IL SB1888

Reinstates a sales and use tax exemption for businesses engaged in centralized purchasing activities in Illinois from January 1, 2026 through December 31, 2031

The exemption applies to tangible personal property purchased from Illinois retailers that will be temporarily stored in Illinois before being transported out of state for use solely outside Illinois

Also covers property temporarily stored in Illinois for processing, fabricating, or manufacturing into other goods that will be transported and used solely outside Illinois

Amends four tax acts: the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act

The exemption previously existed from January 1, 2002 through June 30, 2016, and this bill extends it for an additional six-year period beginning in 2026