Bill Texts: IL SB3498 | 2023-2024 | 103rd General Assembly
Bill Title: Creates the Short-Term Rental Occupation Tax Act. Imposes taxes upon short-term rental transactions facilitated by a hosting platform. Provides that one tax is imposed at the rate of 5% of 94% of the gross rental receipts from the transaction. Provides that an additional tax is imposed at the rate of 1% of 94% of the gross rental receipts from the transaction. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Amends the Counties Code and the Illinois Municipal Code to make conforming changes. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-09 - Referred to Assignments [SB3498 Detail]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-09 - Referred to Assignments [SB3498 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
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Introduced | 2024-02-09 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
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No bill amendments currently on file for Illinois SB3498 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
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No supplemental documents for Illinois SB3498 currently on file. |