Tuesday, March 4th, on a vote of 111-0, the Illinois House of Representatives passed House Bill 2317. Beginning January 1, 2015, House Bill 2317 would change the tax base for motor vehicle leases from the selling price of the leased vehicle to the amount of the lease payments. This legislation passed out of the Senate 55-0 last Spring.
Next, House Bill 2317 will go to the Governor's Desk for his signature. We ask dealers to contact the Governor and urge him to sign House Bill 2317 into law. The Honorable Governor Pat Quinn, 207 Statehouse, Springfield, Il. 62706. He can also be contacted here
, through IADA's website.
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