Illinois House Bill 195 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 14 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. In provisions concerning PPV leases, provides that the current method of classifying and valuing PPV leases expires on the earlier of (i) January 1, 2056 or (ii) January 1 of the calendar year in which the particular PPV lease terminates (now, January 1, 2016). Provides that, for naval training facilities, naval bases, and naval support facilities, "net operating income" means all revenues received minus the lesser of (i) 42% of all revenues or (ii) actual expenses before interest, taxes, depreciation, and amortization (now, all revenues received minus the lesser of (i) 62% of all revenues or (ii) actual expenses before interest, taxes, depreciation, and amortization). Effective immediately.

PROP TX-PPV LEASES

Rep. Scott Drury [D]

Date	Chamber	Action
2015-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2015-02-20	House	To Property Tax Subcommittee
2015-02-03	House	Assigned to Revenue & Finance Committee
2015-01-14	House	Referred to Rules Committee
2015-01-14	House	First Reading
2015-01-14	House	Filed with the Clerk by Rep. Scott Drury

Chapter	Article	Section	Citation Type	Statute Text
35	200	10-365	Amended Code	Citation Text
35	200	10-370	Amended Code	Citation Text
35	200	10-380	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=195&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB0195.htm