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Bill

SB 4073

GIFTED/TRANSFERRED VEH TAX

104th Regular Session Introduced by Neil Anderson and 9 co-sponsors

Illinois bill modifying tax treatment for gifted or transferred vehicles, potentially reducing state revenue from vehicle transfer taxation.

Added as Co-Sponsor Sen. Terri Bryant
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WeVote Research Nonpartisan
Bill Summary · SB 4073

Legislative bill overview

SB 4073 modifies Illinois tax treatment for gifted or transferred vehicles. The bill appears to address how state taxes are calculated and applied when vehicles change ownership through gift or transfer rather than purchase. This represents a technical adjustment to Illinois vehicle tax code.

Why is this important

Vehicle transfer taxes affect both individual taxpayers and state revenue collection. Clarifying tax obligations on gifted vehicles removes ambiguity that currently exists in the tax code and can impact property transfer costs for families inheriting or receiving vehicles. The revenue implications depend on whether the bill increases, decreases, or merely clarifies existing tax obligations.

Potential points of contention

  • Revenue impact: Whether the bill reduces state tax revenue from vehicle transfers and by how much, particularly affecting the Road Fund
  • Fairness questions: Whether exempting or reducing taxes on gifted vehicles creates inequitable treatment compared to purchased vehicles with the same value
  • Enforcement clarity: How the state will verify vehicle transfers are genuine gifts versus disguised sales to avoid taxation

Compiled from official sources — confirm details with the bill’s official record.

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