Comments: IL SB1598 | 2017-2018 | 100th General Assembly

Bill Title: Amends the Property Tax Code. Provides that the valuation procedures for PPV leases sunsets on January 1, 2056 (currently, January 1, 2016). Provides that the definition of "net operating income" is the same for naval training facilities as it is for other military training facilities. Makes changes concerning the calculation of the fair cash value of a PPV Lease. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Passed) 2017-08-25 - Public Act . . . . . . . . . 100-0456 [SB1598 Detail]

Text: Latest bill text (Chaptered) [HTML]

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