summary
Introduced
02/05/2026
02/05/2026
In Committee
02/24/2026
02/24/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Reinstates the exemption for the use or sale of tangible personal property purchased from an Illinois retailer by a taxpayer engaged in centralized purchasing activities in Illinois. Provides that the exemption is repealed on June 30, 2031 (currently, June 30, 2016). Effective immediately.
AI Summary
This bill amends several Illinois tax laws, including the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act, to reinstate and extend a tax exemption for tangible personal property purchased from an Illinois retailer by businesses engaged in centralized purchasing activities within Illinois. This exemption, which was set to expire on June 30, 2016, is now reinstated and will be in effect again from July 1, 2026, through June 30, 2031, allowing businesses that temporarily store property in Illinois before transporting it out of state for use or consumption to avoid paying certain taxes on those purchases. The bill takes effect immediately upon becoming law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/24/2026)
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