HB3660 Summary

• Increases use tax rates for private motor vehicle sales valued at $30,000 or more, effective January 1, 2020, replacing the flat $1,500 rate with tiered rates: $2,000 ($30,000-$49,999), $2,500 ($50,000-$99,999), $5,000 ($100,000-$999,999), and $10,000 ($1,000,000+).

• Applies the same tiered tax structure to motorcycles, motor driven cycles, and mopeds beginning January 1, 2020, replacing the flat $25 rate with rates matching other motor vehicles based on value.

• Maintains existing tax rates for motor vehicles valued under $30,000 and vehicles in other transaction categories, including family transfers and estate beneficiaries.

• Amends Section 3-1001 of the Illinois Vehicle Code to implement the new tax structure.