WALSH,T-DELEO. 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 105/1a from Ch. 120, par. 439.1a 35 ILCS 105/3-10 from Ch. 120, par. 439.3-10 35 ILCS 105/9 from Ch. 120, par. 439.9 35 ILCS 120/1c from Ch. 120, par. 440c 35 ILCS 120/2-10 from Ch. 120, par. 441-10 35 ILCS 120/3 from Ch. 120, par. 442 Creates the Automobile Leasing Occupation and Use Tax Act. Imposes a tax at the rate of 5% of the gross receipts upon persons engaged in the business of leasing automobiles and a tax at the rate of 5% of the leasing price upon the privilege of using in this State an automobile that is leased from a lessor. Amends the State Finance Act, the Use Tax Act, and the Retailers' Occupation Tax Act. Imposes a use tax and a retailers' occupation tax at the rate of 1.25% on any motor vehicle that is sold to a lessor for the purpose of leasing under a lease subject to the Automobile Leasing Occupation and Use Tax Act. Imposes a tax at the rate of 5% on a motor vehicle that has been leased by a lessor to a lessee under a lease that is subject to the Automobile Leasing Occupation and Use Tax Act and is subsequently sold to the lessee of the vehicle. Provides for the distribution of proceeds of the tax. Effective July 1, 2002. FEB-06-2002 S FIRST READING FEB-06-2002 S ADDED AS A CHIEF CO-SPONSOR DELEO FEB-06-2002 S REFERRED TO SENATE RULES COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary