Article XI - Replacement Vehicle Tax
(625 ILCS 5/Ch. 3 Art. XI heading) ARTICLE XI. REPLACEMENT VEHICLE TAX
(625 ILCS 5/3‑2001) (from Ch. 95 1/2, par. 3‑2001)
Sec. 3‑2001. Until July 1, 2003, a tax of $200 is hereby imposed on the purchase of any passenger car as defined in Section 1‑157 of this Code, purchased in Illinois by or on behalf of an insurance company to replace a passenger car of an insured person in settlement of a total loss claim. The tax imposed by this Section shall apply only to that portion of the purchase price of the replacement vehicle paid by the insurance company in settlement of the total loss claim, but not including any portion of such insurance payment which exceeds the market value of the total loss vehicle.
(Source: P.A. 93‑24, eff. 6‑20‑03.) |
(625 ILCS 5/3‑2002) (from Ch. 95 1/2, par. 3‑2002)
Sec. 3‑2002. The purchaser insurance company or broker for an insurance company shall file a return with the Department of Revenue on a form prescribed by the Department. Such return shall contain such information as the Department may reasonably require. Such return and payment from the purchaser shall be submitted to the Department after the sale in order to secure the title to the motor vehicle.
When a purchaser pays the tax imposed by Section 3‑2001 of this Code, the Department (upon request therefor from such purchaser) shall issue an appropriate receipt to such purchaser showing that he has paid such tax to the Department. Such receipt shall be sufficient to relieve the purchaser from further liability for the tax to which such receipt may refer.
(Source: P.A. 83‑114.) |
(625 ILCS 5/3‑2003) (from Ch. 95 1/2, par. 3‑2003)
Sec. 3‑2003. The Department shall have full power to administer and enforce this Article; to collect all taxes, penalties and interest due hereunder; to dispose of taxes, penalties and interest so collected in the manner hereinafter provided, and to determine all rights to credit memoranda or refunds arising on account of the erroneous payment of tax penalty or interest hereunder. In the administration of, and compliance with, this Article, the Department and persons who are subject to this Article shall have the same rights, remedies, privileges, immunities, powers and duties, and be subject to the same conditions, restrictions, limitations, penalties and definitions of terms, and employ the same modes of procedure, as are prescribed in the Use Tax Act, as now or hereafter amended, which are not inconsistent with this Article, as fully as if provisions contained in those Sections of the Use Tax Act were set forth in this Article.
(Source: P.A. 83‑114.) |
(625 ILCS 5/3‑2004) (from Ch. 95 1/2, par. 3‑2004)
Sec. 3‑2004. The State Department of Revenue shall, upon collecting any taxes as provided in this Article, pay such taxes over to the General Revenue Fund.
(Source: P.A. 84‑471.) |
(625 ILCS 5/3‑2005) (from Ch. 95 1/2, par. 3‑2005)
Sec. 3‑2005. The Department shall have the authority to adopt such rules and regulations as are reasonable and necessary to implement the provisions of this Article.
(Source: P.A. 83‑114.) |
(625 ILCS 5/3‑2006) (from Ch. 95 1/2, par. 3‑2006)
Sec. 3‑2006. For the purposes of this Article, "Department" is the Department of Revenue of the State of Illinois.
(Source: P.A. 83‑114.) |