Illinois SB2430 amends the Hotel Operators' Occupation Tax Act to impose a tax on short-term rentals starting January 2026.
SB2430 amends the Hotel Operators' Occupation Tax Act by imposing a tax on short-term rentals starting January 2026. The tax applies to short-term rental unit providers unless the rental is secured through a marketplace meeting certain thresholds. The tax is imposed at a rate of 5% of 94% of the gross rental receipts. Exemptions include rentals by religious organizations and disaster relief entities. The bill also defines terms such as "short-term rental," "short-term rental marketplace," and "hotel operator." Effective immediately.
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