By Dennis Brown and Megan Kueck AROUND THE STATES ELFA-Supported Illinois Legislation Moves to Senate Floor E LFA-SUPPORTED LEGISL ATION (Illinois Senate Bill 1548) has favorably passed through the Senate Revenue Committee without opposition and was expected to gain approval from the full State Senate in mid-to late-April before moving to consideration in the House. Jill Robertson with BMO Harris Equipment Finance varied secondary market requirements together with a desire Company represented the industry in discussions with poli-to avoid separate contracts for each state. You may wish to cymakers in the legislature and at the Senate Revenue Com-review the exemption provision of this automatic renewal mittee hearing. Senate Bill 1548 is intended to resolve issues legislation endorsed in December of 2010 by CSG -Louisiana created by new regulations for sourcing of local retail sales Senate Bill 802 Enrolled as 2010 Act No. 906. If you have ad-taxes implemented as a result of the Hartney Fuel decision ditional questions about this legislation, or other automatic of the Illinois Supreme Court. The correct local tax to charge renewal legislation, contact Dennis Brown, Vice President is uncertain because the new regulations source tax to where of State Government Relations, at dbrown@elfaonline.org. ■ the equipment is located before it is shipped to the customer, which often will not be in Illinois or the equipment may not For more information, please contact Dennis yet have been manufactured. Brown , ELFA Vice President of State Government The bill has strong support from the chair of the Senate Relations, at dbrown@elfaonline.org, or Revenue Committee, who sponsored the bill in the Senate, Megan Kueck , ELFA Director of and the House Finance and Revenue Chairman (Rep. John State Government Relations, at Bradley) has agreed to be the sponsor in the House. For more mkueck@elfaonline.org. information on this issue, contact Megan Kueck, Director of State Government Relations, at mkueck@elfaonline.org. Maine Automatic Renewal Bill Heard in Joint Committee Maine LD 894 is automatic renewal legislation that focuses on contracts of 12 months or more that automatically renew for more than one month and requires notice to the con-sumer in writing no fewer than 30 days and no more than 60 days before the end of the lease. “Consumer” is defined as an individual, business, corporation or other legal entity receiving products, services or repair under a contract. An ELFA-supported amendment was accepted during public hearing on this legislation. An ELFA-proposed amendment to LD 894 to add an exemption for “finance companies” along with the already exempted entities was accepted by the Committee on Labor, Commerce, Research and Economic Development. This re-vised exemptions in the automatic renewal bill provision, making it not applicable to “a bank, trust company, savings and loan association, savings bank, finance companies or credit union or agency licensed or organized under the laws of any state or the United States or any subsidiary or affili-ate.” Maine LD 894 now heads to a committee work session before a final vote. Automatic renewal legislation has popped up in various states this year, most of it not affecting the leasing industry. The Council of State Governments (CSG) Suggested State Legislation Committee selected as model automatic renewal legislation a statute that exempts banks and finance compa-nies in part due to the diversity of equipment financed with ADVERTISING INDEX ADVERTISER PAGE BMO Harris Bank                                    2 www.bmoharris.com/equipmentfinance www.exsolutions.com Executive Solutions                                 8 GreatAmerica Portfolio Services                     15 www.greatamerica.com/servicing GreatAmerican Insurance Group                      9 www.GreatAmericanInsuranceGroup.com www.leaseteam.com LeaseTeam                                   Cover 2 Odessa Technologies, Inc                   Cover 4 www.odessatech.com Russell Equipment                                  5 www.russellequipment.com F or more information on advertising in Equipment Leasing & Finance magazine, please contact ELFA Advertising Representative Steve Wafalosky at stevew@larichadv.com or 440.247.1060. EQUIPMENT LEASING & FINANCE MAGAZINE MAY/JUNE 2015 37