Date	Chamber	Action
8/25/2017	Senate	Public Act . . . . . . . . . 100-0456

Statutes Amended In Order of Appearance

35 ILCS 200/10-365

35 ILCS 200/10-370

35 ILCS 200/10-375

35 ILCS 200/10-380

Synopsis As Introduced
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.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Property Tax Code. Provides that the valuation procedures for PPV leases sunset on January 1, 2056 (currently, January 1, 2016). Provides that those valuation procedures apply in the absence of a separate settlement agreement. Provides that, beginning with the 2017 tax year, those provisions apply only to leasehold interests in naval training facilities, naval bases, and naval support facilities (currently, all military training facilities, military bases, and related military support facilities). Provides that, for tax year 2017 and thereafter, for naval training facilities, naval bases, and naval support facilities, "net operating income" means all revenues received minus the actual expenses before interest, taxes, depreciation, and amortization (currently, the lesser of (i) 62% of all revenues or (ii) actual expenses before interest, taxes, depreciation, and amortization). Provides that, to determine the fair cash value of a PPV Lease, the net operating income is divided by (i) a rate of 12% (currently, 7.75%) plus (ii) the actual or most recently ascertainable tax load factor. Effective immediately.

Senate Committee Amendment No. 2
Replaces everything after the enacting clause. Amends the Property Tax Code. Provides that the valuation procedures for PPV leases sunset on January 1, 2056 (currently, January 1, 2016). Provides that those valuation procedures apply in the absence of a separate settlement agreement. Provides that, for tax year 2017 and thereafter, for naval training facilities, naval bases, and naval support facilities, "net operating income" means all revenues received minus the actual expenses before interest, taxes, depreciation, and amortization (currently, the lesser of (i) 62% of all revenues or (ii) actual expenses before interest, taxes, depreciation, and amortization). Provides that, to determine the fair cash value of a PPV Lease, the net operating income is divided by (i) a rate of 12% (currently, 7.75%) plus (ii) the actual or most recently ascertainable tax load factor. Effective immediately.

House Floor Amendment No. 1
Provides that the valuation procedures in the engrossed bill apply absent a separate settlement agreement entered into under a particular provision of the Code (in the engrossed bill, all settlement agreements).

Actions 

Date	Chamber	Action
2/9/2017	Senate	Filed with Secretary by Sen. Terry Link
2/9/2017	Senate	First Reading
2/9/2017	Senate	Referred to Assignments
2/28/2017	Senate	Assigned to Revenue
3/2/2017	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
3/2/2017	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/7/2017	Senate	Senate Committee Amendment No. 1 Assignments Refers to Revenue
3/8/2017	Senate	Senate Committee Amendment No. 2 Filed with Secretary by Sen. Terry Link
3/8/2017	Senate	Senate Committee Amendment No. 2 Referred to Assignments
3/9/2017	Senate	Postponed - Revenue
3/9/2017	Senate	Senate Committee Amendment No. 1 Postponed - Revenue
3/15/2017	Senate	Senate Committee Amendment No. 2 Assignments Refers to Revenue
3/15/2017	Senate	Senate Committee Amendment No. 1 Adopted
3/15/2017	Senate	Senate Committee Amendment No. 2 Adopted
3/16/2017	Senate	Do Pass as Amended Revenue; 008-000-000
3/16/2017	Senate	Placed on Calendar Order of 2nd Reading March 28, 2017
3/16/2017	Senate	Added as Chief Co-Sponsor Sen. Pamela J. Althoff
4/25/2017	Senate	Second Reading
4/25/2017	Senate	Placed on Calendar Order of 3rd Reading April 26, 2017
4/27/2017	Senate	Third Reading - Passed; 056-000-000
4/27/2017	House	Arrived in House
4/27/2017	House	Chief House Sponsor Rep. Rita Mayfield
4/27/2017	House	First Reading
4/27/2017	House	Referred to Rules Committee
5/9/2017	House	Assigned to Revenue & Finance Committee
5/11/2017	House	Added Alternate Chief Co-Sponsor Rep. Barbara Wheeler
5/17/2017	House	Do Pass / Short Debate Revenue & Finance Committee; 007-000-000
5/18/2017	House	Placed on Calendar 2nd Reading - Short Debate
5/23/2017	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Rita Mayfield
5/23/2017	House	House Floor Amendment No. 1 Referred to Rules Committee
5/24/2017	House	House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000
5/24/2017	House	Second Reading - Short Debate
5/24/2017	House	House Floor Amendment No. 1 Adopted
5/24/2017	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/26/2017	House	Final Action Deadline Extended-9(b) May 31, 2017
5/30/2017	House	Third Reading - Short Debate - Passed 067-045-001
5/30/2017	Senate	Secretary's Desk - Concurrence House Amendment(s) 1
5/30/2017	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 31, 2017
5/30/2017	Senate	House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Terry Link
5/30/2017	Senate	House Floor Amendment No. 1 Motion to Concur Referred to Assignments
5/31/2017	Senate	House Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive
5/31/2017	Senate	House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 016-000-000
5/31/2017	Senate	House Floor Amendment No. 1 Senate Concurs 043-008-000
5/31/2017	Senate	Senate Concurs
5/31/2017	Senate	Passed Both Houses
6/29/2017	Senate	Sent to the Governor
8/25/2017	Senate	Governor Approved
8/25/2017	Senate	Effective Date August 25, 2017
8/25/2017	Senate	Public Act . . . . . . . . . 100-0456

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