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Proposed Illinois Luxury Tax on Boats Withdrawn From Consideration
Boating organizations, including NMMA, were prepared to testify
WASHINGTON, DC, February 26, 2009 – Today, the Illinois State Legislature’s Revenue and Finance Committee decided not to move forward with HB 451, a bill to impose a five percent luxury tax on vessels sold in Illinois over a purchase price of $200,000. Mark Adams, vice president of sportshows for the National Marine Manufacturers Association (NMMA), along with opponents from six different marine-related organizations and businesses, attended the hearing to testify in opposition to the tax. However, before testimonies could be heard, the committee echoed industry concerns about the tax and withheld a motion to take up the legislation.