Illinois General Assembly - Bill Status for HB0195
Illinois General Assembly

Previous General Assemblies

 Bill Status of HB0195  101st General Assembly


Short Description:  PROP TX-PPV LEASES

House Sponsors
Rep. Scott Drury

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/10-365
35 ILCS 200/10-370
35 ILCS 200/10-380


Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/14/2015HouseFiled with the Clerk by Rep. Scott Drury
  1/14/2015HouseFirst Reading
  1/14/2015HouseReferred to Rules Committee
  2/3/2015HouseAssigned to Revenue & Finance Committee
  2/20/2015HouseTo Property Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

Back To Top