Illinois Statutes
§ 3-2001
Illinois·Topic TRANSPORTATION·Ch. 625 VEHICLES·Act 625 ILCS 5/ Illinois Vehicle Code.·Art. Chapter 3 - Certificates Of Title And Registration Of Vehicles
Until July 1, 2003, a tax of $200 is hereby imposed on the purchase of any passenger car as defined in Section 1-157 of this Code, purchased in Illinois by or on behalf of an insurance company to replace a passenger car of an insured person in settlement of a total loss claim. The tax imposed by this Section shall apply only to that portion of the purchase price of the replacement vehicle paid by the insurance company in settlement of the total loss claim, but not including any portion of such insurance payment which exceeds the market value of the total loss vehicle.
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Legislative History
(Source: P.A. 93-24, eff. 6-20-03.)
Nearby Sections
15
§ 3
Definitions§ 3-1.5
(Repealed)§ 3-10
Penalty§ 3-100
Definitions§ 3-100.1
Use of electronic records§ 3-100.3
Rules§ 3-1001
§ 3-1001§ 3-1002
§ 3-1002§ 3-1002.1
§ 3-1002.1§ 3-1002.2
§ 3-1002.2§ 3-1003
§ 3-1003§ 3-1004
§ 3-1004§ 3-1005
§ 3-1005