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(A) (1) A tax is hereby imposed upon each vehicle, as defined in § 1-146 of the Illinois Vehicle Code (ILCS Ch. 625, Act 5, § 1-146), purchased in this city by or on behalf of an insurance company to replace a vehicle of an insured person in the settlement of a total loss claim.
(2) The tax shall be in the amount of $50 per vehicle purchase.
(B) Every such insurance company that purchases a replacement vehicle as defined herein shall complete and file with the State Department of Revenue a replacement vehicle certificate (Form RVT-7).
(C) At the time such report is filed, there shall be paid to the State Department of Revenue the amount of tax hereby imposed.
(1999 Code, § 35.22) (Ord. 1101, passed 4-30-1984) Penalty, see § 35.999