USE/OCC TAX-LEASES Senate SponsorsSen. Thomas Cullerton and Wm. Sam McCann 1/10/2017SenateSession Sine Die 35 ILCS 105/2from Ch. 120, par. 439.235 ILCS 120/1from Ch. 120, par. 440Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, with respect to tangible personal property that is sold for the purpose of leasing the property in Illinois for a defined period, the term "selling price" means the consideration received by the lessor pursuant to the lease contract, including amounts due at lease signing and all monthly or other regular payments charged over the term of the lease. Provides that, for those items of tangible personal property, "selling price" also includes amounts received from the lessee that are not calculated at the time the lease is executed.Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, for tangible personal property that is subject to a rental-purchase agreement, "selling price" or "amount of sale" means consideration received by the merchant pursuant to the rental-purchase agreement, including amounts due at signing and all monthly or other regular payments charged over the term of the agreement. Provides that the merchant (instead of the retailer who sells the property to the merchant) assumes the liability for reporting, collecting, and remitting tax. 2/3/2015SenateFiled with Secretary by Sen. Thomas Cullerton 2/3/2015SenateFirst Reading 2/3/2015SenateReferred to Assignments 2/11/2015SenateAssigned to Revenue 3/5/2015SenateTo Subcommittee on Special Issues (RV) 3/12/2015SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Thomas Cullerton 3/12/2015SenateSenate Committee Amendment No. 1 Referred to Assignments 3/17/2015SenateSenate Committee Amendment No. 1 Assignments Refers to Revenue 3/25/2015SenateReported Back To Revenue; 003-000-000 3/25/2015SenateSenate Committee Amendment No. 1 Reported Back To Revenue; 003-000-000 3/25/2015SenateSenate Committee Amendment No. 1 Adopted 3/26/2015SenateDo Pass as Amended Revenue; 008-003-000 3/26/2015SenatePlaced on Calendar Order of 2nd Reading April 14, 2015 4/16/2015SenateSecond Reading 4/16/2015SenatePlaced on Calendar Order of 3rd Reading April 21, 2015 4/24/2015SenateRule 2-10 Committee/3rd Reading Deadline Established As May 15, 2015 5/6/2015SenateAdded as Co-Sponsor Sen. Wm. Sam McCann 5/15/2015SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2015 10/8/2015SenateRule 2-10 Third Reading Deadline Established As October 20, 2015 10/10/2015SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 1/10/2017SenateSession Sine Die