SUBSTITUTE
REVENUE ORDINANCE AS
AMENDED
WHEREAS, The City of Chicago is a home rule unit of government as defined in Article VII, Section 6 (a) of the Illinois Constitution; and
WHEREAS, As a home rule unit of government, the City of Chicago may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, The management of its finances is a matter pertaining to the government and affairs of the City of Chicago; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
This ordinance is organized into fourteen Articles, as follows:
Article I Personal Property Lease Transaction Tax
Article II Chicago Liquid Nicotine Product Tax
Article III Property Tax Limitation Ordinance
Article IV Amusement Tax
Article V Parking Tax
Article VI Overweight Truck Permit Fees
Article VII Uninsured Motorist Regulation
Article VIII Building Permit Fees
Article IX Refuse Collection
Article X Capital Improvement Tax Levy
Article XI Taxi Rate and TNP Airport Surcharge
Article XII Miscellaneous Ordinances
Article XIII Severability and Repealer
Article XIV Effective Date
Article I
Personal Property Lease Transaction Tax
SECTION 1. Chapter 3-32 of the Municipal Code of Chicago is hereby amended by inserting the language underscored, as follows:
3-32-020 Definitions,
When any of the following words or terms are used in this chapter, whether or not capitalized and whether or not used in a conjunctive or connective form, they shall have the meaning or construction ascribed to them in this section:
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I I
(Omitted text is unaffected by this ordinance)
I. "Lease" or "rental" means any transfer of the possession or use of personal property, but not title or ownership, to a user for consideration, whether or nol designated as a lease, rental, license or by some other term, and includes a "nonpossessory lease".
The term "nonpossessory lease" means a lease or rental wherein use but not possession of the personal property is tra...
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