Sec. 15.1. No taxes to be imposed by political subdivisions.
172 words·~1 min read·
/il/chapter-215/act-155/15-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 15.1. No taxes to be imposed by political subdivisions. The fees, charges, and taxes provided for by this Act shall be in lieu of all license fees or privilege or occupation taxes or other fees levied or assessed by any municipality, county, or other political subdivision of this State. No municipality, county, or other political subdivision of this State shall impose any license fee or privilege or occupation tax or fee upon any domestic, foreign, or alien company, or upon any of its agents, for the privilege of doing insurance business therein.
This Section shall not be construed to prohibit the levy and collection of State, county, or municipal taxes upon the real and personal property of the company, including the tax imposed by subsections
(c)and
(d)of Section 201 of the Illinois Income Tax Act. This Section 15.1 is declared to be a denial and limitation of the powers of home rule units pursuant to paragraph
(g)of Section 6 of Article VII of the Illinois Constitution of 1970.