HB 1497

Abstract

Amends the Illinois Vehicle Code. Deletes language limiting the liability of a renter for damage to a vehicle to $2,000 for a vehicle with a Manufacturer's Suggested Retail Price of $50,000 or less, and $40,000 for a vehicle with a Manufacturer's Suggested Retail Price greater than $50,000. Senate Committee Amendment No. 5 Adds reference to: 35 ILCS 155/6 new Replaces everything after the enacting clause. Amends the Automobile Renting Occupation and Use Tax Act. Provides that the taxes imposed under the Act do not apply to any amounts paid or received for peer-to-peer car sharing, as defined in the Car-Sharing Program Act, or the privilege of sharing a shared vehicle through a car-sharing program, as defined in the Car-Sharing Program Act, if the shared vehicle owner paid applicable taxes upon the purchase of the automobile. Defines "applicable taxes". Provides that the car-sharing program shall collect and remit any retailers' occupation tax or use tax due with respect to any proceeds from any shared vehicle upon the purchase of which applicable taxes were not paid. Further amends the Illinois Vehicle Code. Provides that a person who rents a motor vehicle to another may hold the renter liable for physical or mechanical damage to the rented motor vehicle that occurs during the time the motor vehicle is under the rental agreement. Creates limits on liability due to theft based on the MSRP of the stolen vehicle. Provides that, beginning on the effective date and for 6 months after, a person who rents a motor vehicle to another shall provide notice to the renter of the motor vehicle of the changes reflected in the amendatory Act. Requires the notice to be posted in a conspicuous and unobscured place that is separate and apart from any other information. Effective immediately. Senate Floor Amendment No. 6 Adds reference to: 35 ILCS 155/6 new 35 ILCS 155/2 from Ch. 120, par. 1702 Replaces everything after the enacting clause. Amends the Automobile Renting Occupation and Use Tax Act. Amends various definitions to exempt car-sharing from the tax imposed under the Act if tax due on the automobile under the Retailers' Occupation Tax Act or Use Tax Act was paid upon the purchase of the automobile or when the automobile was brought into Illinois. Provides that the taxes imposed under the Act do not apply to any amounts paid or received for peer-to-peer car sharing, as defined in the Car-Sharing Program Act, or the privilege of sharing a shared vehicle through a car-sharing program, as defined in the Car-Sharing Program Act, if the shared vehicle owner paid applicable taxes upon the purchase of the automobile. Defines "applicable taxes". Further amends the Illinois Vehicle Code. Provides that a person who rents a motor vehicle to another may hold the renter liable for physical or mechanical damage to the rented motor vehicle that occurs during the time the motor vehicle is under the rental agreement. Creates limits on liability due to theft based on the MSRP of the stolen vehicle. Provides that, beginning on the effective date and for 6 months after, a person who rents a motor vehicle to another shall provide notice to the renter of the motor vehicle of the changes reflected in the amendatory Act. Requires the notice to be posted in a conspicuous and unobscured place that is separate and apart from any other information. Effective immediately, except that the changes to the Illinois Vehicle Code take effect on January 1, 2024.