Bill Title: Creates the Short-Term Rental Operators' Occupation Tax Act. Imposes a tax upon persons engaged in the business of short-term rental at the rate of 5% of 94% of the gross rental receipts from such renting, leasing or letting. Imposes an additional tax at the rate of 1% of 94% of the gross rental receipts from such renting, leasing or letting. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Provides that receipts that are subject to tax under the Hotel Operators' Occupation Tax Act are not subject to tax under the Short-Term Rental Operators' Occupation Tax Act. Amends the Hotel Operators' Occupation Tax Act. Provides that re-renters of hotel rooms who meet certain criteria related to gross receipts or number of transactions are required to collect and remit the tax under the Act. Provides that a "re-renter" is a person who obtains from a hotel operator the right or authority to control the access to, or occupancy of, a hotel room located in this State and who resells the right to occupy that room. Effective October 1, 2021.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-05-07 - Rule 3-9(a) / Re-referred to Assignments
[SB1746 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
Introduced | 2021-02-26 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
No bill amendments currently on file for Illinois SB1746 |
Supplemental Documents
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No supplemental documents for Illinois SB1746 currently on file. |
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