IL SB2256

Amends the Use Tax Act and Service Use Tax Act to expand the multistate exemption for property returning to Illinois for storage, repair, or refurbishment by out-of-state lessors or purchasers, provided the property is not used by lessees or purchasers within Illinois.

Defines "refurbishment" to include replacement of component parts and upgrades for both the Use Tax Act (Section 3-55, subsection e-5) and Service Use Tax Act (Section 3-45, subsection d-5).

Creates new exemption categories (subsections e-5 and d-5) that allow out-of-state property owners to return equipment to Illinois for maintenance and improvement without triggering use tax liability, as long as the property does not remain in use within the state.

Takes effect immediately upon becoming law.