HB 5662

  • Illinois House Bill
  • 97th Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Veh Cd-Plate Lottery & Auction

Abstract

Amends the Illinois Vehicle Code. Provides that the Secretary of State shall adopt and implement the Tate Revenue Increase Plate Plan, or "TRIPP". Provides that in implementing TRIPP, the Secretary shall comply with requirements of the Illinois Procurement Code concerning sole source procurements. Provides that all currently issued license plates shall be classified as the personal property of the license plate holder, assigned a value of $1,000, and assessed an optional annual license fee to TRIPP in the amount of $120. Provides that a license plate owner who consents to the license fee is eligible for a weekly lottery cash prize and may sell his or her license plate by way of an Internet auction site established for that purpose and available on the State's Internet home page. Provides that certain persons may purchase additional entries into the lottery. Provides that a 25% privilege tax shall be assessed on the sale of a license plate and that the sale price of a plate auctioned under the new provisions shall become the new assessed value of the license plate. Provides certain exemptions from plate transfer fees and other sales requirements. Provides that disputes regarding TRIPP shall be adjudicated by an arbitrator appointed by the Secretary of State. Provides that 15% of all revenue generated by TRIPP shall be used as a license fee, and that no later than 30 days after the effective date of the amendatory Act, the Comptroller shall order transferred and the Treasurer shall transfer to the TRIPP licensor a license fee deposit equal to 10% of the first year's anticipated license fee payment, as calculated by a specified formula. Provides that the Secretary of State shall adopt rules to implement the new provisions. Effective January 1, 2013.

Bill Sponsors (1)

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Jan 08, 2013

House

Session Sine Die

Mar 30, 2012

House

Rule 19(a) / Re-referred to Rules Committee

Mar 27, 2012

House

Second Reading - Short Debate

House

Held on Calendar Order of Second Reading - Short Debate

Mar 07, 2012

House

Placed on Calendar 2nd Reading - Short Debate

House

Do Pass / Short Debate Transportation: Vehicles & Safety Committee; 009-000-000

Feb 27, 2012

House

Assigned to Transportation: Vehicles & Safety Committee

Feb 16, 2012

House

Referred to Rules Committee

House

First Reading

Feb 15, 2012

House

Filed with the Clerk by Rep. Joseph M. Lyons

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