IL SB1803

Reinstates the exemption for tangible personal property purchased from Illinois retailers by taxpayers engaged in centralized purchasing activities who temporarily store the property in Illinois for subsequent transport or processing outside the state.

Extends the exemption sunset date from June 30, 2016 to June 30, 2021 across the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act.

Requires the Director of Revenue to issue permits to eligible taxpayers in good standing who meet exemption criteria, authorizing them to purchase qualifying property exempt from state taxes.

Mandates taxpayers maintain books and records to substantiate that purchased tangible personal property is used and consumed solely outside Illinois.

Takes effect immediately upon becoming law.