Bill Status of HB 4344   102nd General Assembly


Short Description:  USE/OCC TAX-EXEMPT TRANSFERS

House Sponsors
Rep. Amy Elik

Last Action  View All Actions

DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 105/2from Ch. 120, par. 439.2
35 ILCS 120/1from Ch. 120, par. 440
35 ILCS 157/10-15
35 ILCS 158/15-10

Synopsis As Introduced
Amends the Use Tax Act, the Retailers' Occupation Tax Act, the Aircraft Use Tax Law, and the Watercraft Use Tax Law. Provides that the taxes under those Acts do not apply to transfers that occur between a natural individual and (i) a revocable trust where the transferor is the grantor of the trust or (ii) a business entity if the transferor has ownership or control of the business entity. Provides that the transferor must retain a beneficial interest in the property, and the property must be transferred without valuable consideration.

Actions 
DateChamber Action
  1/4/2022HouseFiled with the Clerk by Rep. Amy Elik
  1/5/2022HouseFirst Reading
  1/5/2022HouseReferred to Rules Committee
  2/9/2022HouseAssigned to Revenue & Finance Committee
  2/15/2022HouseTo Sales, Amusement, & Other Taxes Subcommittee
  2/18/2022HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2023HouseSession Sine Die

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