(A) A tax is hereby imposed upon all persons engaged in the business of renting or leasing tangible personal property to the users thereof at the rate of .5% of the gross receipts from such renting or leasing made in the course of such business while this section is in effect, in accordance with the provisions of ILCS Ch. 65, Act 5, § 8-11-6.
(B) Every person engaged in such business in the village shall file with the State Department of Revenue the return in the manner as required by Section Five of the “Leasing Occupation Tax Act” as adopted by the 74th General Assembly.
(C) At the time such return is filed, there shall be paid to the State Department of Revenue the amount of tax hereby imposed on account of the receipts from renting or leasing tangible personal property during the preceding month.
(Ord. 561, passed 9-7-65)