The bill amends the Use Tax Act of 1937 by updating definitions and provisions related to the taxation of tangible personal property and services. Key insertions include a broader definition of "person" to encompass various entities, including counties, and the clarification that "purchase" includes acquiring property through various means, whether conditional or absolute. Additionally, the bill introduces a new subparagraph regarding credits for the agreed-upon value of portable electronic devices used as part payment for new or used devices, ensuring that such credits are separately stated on invoices.

Furthermore, the bill addresses delivery and installation charges, mandating the cancellation of outstanding balances related to these charges for assessments issued before April 26, 2023. It prohibits the issuance of new assessments for these charges for any tax period before that date, thereby providing relief to taxpayers. The enactment of this bill is contingent upon the passage of related legislation, ensuring that the changes take effect only if certain other bills are also enacted.

Statutes affected:
House Introduced Bill: 205.92