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SB 743 Illinois Senate · 99th Regular Session

USE/OCC TAX-LEASES

Summary
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, with respect to tangible personal property that is sold for the purpose of leasing the property in Illinois for a defined period, the term "selling price" means the consideration received by the lessor pursuant to the lease contract, including amounts due at lease signing and all monthly or other regular payments charged over the term of the lease. Provides that, for those items of tangible personal property, "selling price" also includes amounts received from the lessee that are not calculated at the time the lease is executed.
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2015
Committee Review
Floor Vote
Governor
Introduced Feb 3, 2015 Last action Jan 10, 2017
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
21
Key actions
5
Committee
8
Amendments
2
Oct 10, 2015
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Mar 26, 2015
Upper · Passed
Do Pass as Amended Revenue; 008-003-000
upper
Mar 25, 2015
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Mar 25, 2015
Upper · Passed
Senate Committee Amendment No. 1 Reported Back To Revenue; 003-000-000
upper
Mar 17, 2015
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Revenue
upper
Mar 12, 2015
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Mar 12, 2015
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Thomas Cullerton
upper
Mar 5, 2015
Upper · Passed
To Subcommittee on Special Issues (RV)
upper
Feb 11, 2015
Committee
Assigned to Revenue
upper
Feb 3, 2015
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.