Bill Title: Amends the Property Tax Code. In a Section concerning valuation of PPV leases, provides that the term "net income" means all revenues received minus actual expenses before interest, taxes, depreciation, and amortization (now, "net income" means all revenues received minus the lesser of (i) 42% of all revenue or (ii) actual expenses before interest, taxes, depreciation, and amortization). Effective January 1, 2014.

Spectrum: Moderate Partisan Bill (Democrat 9-2)

Status: (Passed) 2013-08-16 - Public Act . . . . . . . . . 98-0494 [SB1953 Detail]

Text: Latest bill text (Chaptered) [HTML]

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