Illinois House Bill 4318 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
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
2014-12-03	House	Session Sine Die
2014-03-28	House	Rule 19(a) / Re-referred to Rules Committee
2014-03-11	House	Fiscal Note Filed
2014-03-06	House	Balanced Budget Note Filed
2014-03-05	House	Housing Affordability Impact Note Filed
2014-03-04	House	Judicial Note Filed
2014-03-03	House	Pension Note Filed
2014-02-28	House	State Debt Impact Note Filed
2014-02-28	House	Home Rule Note Filed
2014-02-28	House	State Mandates Fiscal Note Filed
2014-02-27	House	Judicial Note Filed
2014-02-27	House	Correctional Note Filed
2014-02-27	House	Land Conveyance Appraisal Note Filed
2014-02-27	House	State Debt Impact Note Requested by Rep. Rita Mayfield
2014-02-27	House	Pension Note Requested by Rep. Rita Mayfield
2014-02-27	House	Land Conveyance Appraisal Note Requested by Rep. Rita Mayfield
2014-02-27	House	Judicial Note Requested by Rep. Rita Mayfield
2014-02-27	House	Housing Affordability Impact Note Requested by Rep. Rita Mayfield
2014-02-27	House	Home Rule Note Requested by Rep. Rita Mayfield
2014-02-27	House	Correctional Note Requested by Rep. Rita Mayfield
2014-02-27	House	Balanced Budget Note Requested by Rep. Rita Mayfield
2014-02-27	House	State Mandates Fiscal Note Requested by Rep. Rita Mayfield
2014-02-27	House	Fiscal Note Requested by Rep. Rita Mayfield
2014-02-20	House	To Property Tax Subcommittee
2014-02-04	House	Assigned to Revenue & Finance Committee
2014-01-28	House	Referred to Rules Committee
2014-01-28	House	First Reading
2014-01-27	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=4318&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB4318.htm