TURNER,ART-BRUNSVOLD-KUBIK-GRANBERG-MOORE,ANDREA, SMITH,MICHAEL, HOLBROOK, BOLAND. (PETERSON-FITZGERALD-SEVERNS-COLLINS) New Act 30 ILCS 105/6z-18 from Ch. 127, par. 142z-18 30 ILCS 105/6z-20 from Ch. 127, par. 142z-20 35 ILCS 105/3-5 from Ch. 120, par. 439.3-5 35 ILCS 120/2-5 from Ch. 120, par. 441-5 Creates the Automobile Leasing Occupation and Use Tax Act to impose a tax at the rate of 6.25% on the leasing of automobiles for a period of more than one year. Provides that tax proceeds shall be deposited into the Local Government Tax Fund and the County and Mass Transit District Fund. Amends the Use Tax Act and the Retailers' Occupation Tax Act to exempt the leasing of automobiles and the use of leased automobiles from taxation under those Acts. Provides that lessors who claim not to be engaged in the auto leasing business for purposes of collecting the Automobile Leasing Occupation and Use Tax may not claim an exemption under the Retailers' Occupation Tax Act unless they register with the Department and pay tax under the Automobile Leasing Occupation and Use Tax. Amends the State Finance Act to provide for distribution of money in the Local Government Tax Fund and the County and Mass Transit District Fund from the Automobile Leasing Occupation and Use Tax to local governments where the lease transactions occurred. STATE MANDATES FISCAL NOTE HB601 fails to create a State mandate. FISCAL NOTE (Dept. of Revenue) Estimated negative fiscal impact will be $288.4 M cumulative the first three years and $67 M in each subsequent year. HOUSE AMENDMENT NO. 2. Deletes reference to: 35 ILCS 105/3-5 35 ILCS 120/2-5 Adds reference to: 30 ILCS 105/5.449 new 30 ILCS 105/6z-42 new Deletes everything. Creates the Automobile Leasing Occupation and Use Tax Act to impose a use tax on the leasing of automobiles leased for a period of more than one year. Provides that the tax shall be imposed (1) at a rate equal to the sum of 1.25%, plus a rate equal to the rate of any additional occupation or use tax imposed by a unit of local government that is authorized to and does impose an additional occupation or use tax, of the capitalized cost, to be paid in a lump sum at the start of the lease term, and (2) at the rate of 5% of the monthly leasing price paid to lessor under the lease agreement. Imposes a retailers' occupation tax (1) at a rate equal to the sum of 1.25%, plus a rate equal to the rate of any additional occupation or use tax imposed by a unit of local government that is authorized to and does impose an additional occupation or use tax, of the capitalized cost, to be paid in a lump sum payment at the start of the lease term, (2) at the rate of 5% of the monthly gross receipts received from the business, and (3) at the rate of 5% of the value of the automobile at the time a lessee exercises an option to purchase a leased vehicle. Provides that the 1.25% tax plus any additional occupation or use tax imposed by a unit of local government that is authorized to impose and does impose an additional occupation or use tax shall be deposited into the Automobile Leasing Occupation and Use Tax Distribution Fund for distribution by the Department of Revenue. Provides that of the 1.25% tax, 1% shall be deposited into the Local Government Tax Fund and .25% shall be deposited into the County and Mass Transit District Fund of the unit of local government where the vehicle was removed from the retailers' inventory or, in the case of out-of-State leases, of the unit of local government where the vehicle is titled. Provides that any moneys received from the additional rate imposed as an equivalent of any additional occupation or use tax shall be distributed to the unit of local government imposing the tax. Amends the State Finance Act to provide for distribution of money in the Local Government Tax Fund and the County and Mass Transit District Fund from the Automobile Leasing Occupation and Use Tax to local governments where the lease transactions occurred. Creates the Automobile Leasing Occupation and Use Tax Distribution Fund. HOUSE AMENDMENT NO. 3. Adds reference to: 35 ILCS 105/3-5 from Ch. 120, par. 439.3-5 35 ILCS 120/2-5 from Ch. 120, par. 441-5 Corrects references. Provides for administration. Restores exemptions to the Use Tax Act and the Retailers' Occupation Tax Act. STATE MANDATES FISCAL NOTE, H-AM 2 No change from previous mandates note. FISCAL NOTE, H-AMS 2 & 3 (Dept. of Revenue) Negative fiscal impact of $231 M for the first 3 years and $53.6 M in each subsequent year thereafter, the revenue loss from State tax receipts, as the locals will continue to receive current tax allocations based upon the two tier tax structure. 97-02-06 H FIRST READING 97-02-06 H ADDED AS A JOINT SPONSOR BRUNSVOLD 97-02-06 H ADDED AS A CO-SPONSOR KUBIK 97-02-06 H ADDED AS A CO-SPONSOR GRANBERG 97-02-06 H ADDED AS A CO-SPONSOR MOORE,ANDREA 97-02-06 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-10 H ASSIGNED TO COMMITTEE REVENUE 97-03-07 H ADDED AS A CO-SPONSOR BLACK 97-03-13 H FISCAL NOTE REQUESTED MOORE,A 97-03-13 H STATE MANDATES FISCAL NOTE REQUESTED MOORE.A 97-03-13 H DO PASS/SHORT DEBATE 008-002-001 HREV 97-03-13 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-04-07 H STATE MANDATES FISCAL NOTE FILED 97-04-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-09 H FISCAL NOTE FILED 97-04-09 H AMENDMENT NO. 01-MOORE,ANDREA 97-04-09 H AMENDMENT REFERRED TO HRUL 97-04-09 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-10 H AMENDMENT NO. 02-MOORE,ANDREA 97-04-10 H AMENDMENT REFERRED TO HRUL 97-04-10 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-11 H AMENDMENT NO. 01-MOORE,ANDREA 97-04-11 H RULES REFERS TO HREV 97-04-11 H AMENDMENT NO. 02-MOORE,ANDREA 97-04-11 H RULES REFERS TO HREV 97-04-11 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-12 H AMENDMENT NO. 02-MOORE,ANDREA 97-04-12 H BE ADOPTED HREV 97-04-12 H AMENDMENT NO. 03-MOORE,ANDREA 97-04-12 H AMENDMENT REFERRED TO HRUL 97-04-12 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-12 H ADDED AS A CO-SPONSOR SMITH,MICHAEL 97-04-12 H ADDED AS A CO-SPONSOR HOLBROOK 97-04-12 H ADDED AS A CO-SPONSOR BOLAND 97-04-14 H FISCAL NOTE REQUESTED AS AMENDED/CURRIE 97-04-14 H AMENDMENT NO. 03-MOORE,ANDREA 97-04-14 H BE ADOPTED HRUL 97-04-14 H SECOND READING-SHORT DEBATE 97-04-14 H AMENDMENT NO. 02-MOORE,ANDREA 97-04-14 H ADOPTED 97-04-14 H AMENDMENT NO. 03-MOORE,ANDREA 97-04-14 H ADOPTED 97-04-14 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-04-15 H STATE MANDATES FISCAL NOTE FILED AS AMENDED 97-04-15 H FISCAL NOTE FILED AS AMENDED 97-04-15 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-04-24 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-24 H TABLED PURSUANT TO RULE 40(A) HFA 01 97-04-24 H THIRD READING/SHORT DEBATE/PASSED 115-001-001 97-04-24 S ARRIVE IN SENATE 97-04-24 S CHIEF SPONSOR PETERSON 97-04-24 S PLACED CALENDAR ORDER OF FIRST READING 97-04-24 S ADDED AS A CHIEF CO-SPONSOR FITZGERALD 97-04-24 S ADDED AS A CHIEF CO-SPONSOR SEVERNS 97-04-25 S FIRST READING 97-04-25 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-25 S ADDED AS A CO-SPONSOR WELCH 97-04-29 S ASSIGNED TO COMMITTEE REVENUE 97-05-01 S ADDED AS A CO-SPONSOR SYVERSON 97-05-08 S DO PASS 010-000-000 SREV 97-05-08 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-09 97-05-09 S SECOND READING 97-05-09 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-12 97-05-13 S ADDED AS A CHIEF CO-SPONSOR COLLINS 97-05-13 S THIRD READING - PASSED 055-000-003 97-05-13 H PASSED BOTH HOUSES 97-06-11 H SENT TO THE GOVERNOR 97-08-01 H GOVERNOR VETOED 97-08-01 H PLACED CALENDAR TOTAL VETO OCTOBER 28, 1997 97-10-30 H TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary