SB1406

SB1406 amends Illinois tax laws to redefine "use as rolling stock moving in interstate commerce" for aircraft and watercraft.

SB1406 amends the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act in Illinois. It redefines "use as rolling stock moving in interstate commerce" for aircraft purchased on or after January 1, 2025, and watercraft purchased on or after January 1, 2014. For aircraft, this occurs when, during a 24-month period, the rolling stock has carried persons or property for hire in interstate commerce for more than 50% of its total trips or miles. For watercraft, this occurs during a 12-month period.