Date	Chamber	Action
6/30/2006	Senate	Public Act . . . . . . . . . 94-0974

Statutes Amended In Order of Appearance

35 ILCS 200/1-55

Synopsis As Introduced
Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".

Senate Floor Amendment No. 1

	Deletes reference to:
	35 ILCS 200/1-55

	Adds reference to:
	35 ILCS 200/Art. 10 Div 14 heading new

35 ILCS 200/10-365 new

35 ILCS 200/10-370 new

35 ILCS 200/10-375 new

35 ILCS 200/10-380 new

35 ILCS 200/18-165

35 ILCS 200/18-185

Deletes everything after the enacting clause. Amends the Property Tax Code. Sets forth procedures for calculating the value of certain leasehold estates for property that is owned by the United States and that is leased to another whose property is not exempt for the purpose of design, finance, construction, renovation, management, operation, and maintenance of rental housing units. Authorizes taxing districts to abate the property taxes for such property. In the Property Tax Extension Limitation Law in the Property Tax Code, includes within the definition of "new property", the assessed value of any real property located within the boundaries of an otherwise exempt military reservation that is intended for residential use and owned by or leased to a private corporation or other private entity. Effective immediately.

Senate Floor Amendment No. 2
Makes a technical correction.

House Amendment No. 1
Deletes everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes: Provides that a PPV Lease is a leasehold interest in property at naval training and related naval support facilities (instead of property at, among other facilities, naval training facilities). Makes changes to the calculation of "net operating income". Provides that the capitalization rate is 7.75% (instead of 5.75%). Makes changes to the method of valuation of PPV Leases for taxable years 2006, 2007, 2008, and 2009. Provides that the PPV Leases are included within the definition of "new property" in the Property Tax Extension Limitation Law only after the final stabilization of occupancy after the new construction is complete. Makes other changes. Effective immediately.

Actions 

Date	Chamber	Action
2/18/2005	Senate	Filed with Secretary by Sen. Don Harmon
2/18/2005	Senate	Chief Co-Sponsor Sen. Emil Jones, Jr.
2/18/2005	Senate	First Reading
2/18/2005	Senate	Referred to Rules
2/24/2005	Senate	Assigned to Revenue
3/10/2005	Senate	Do Pass Revenue; 006-003-000
3/10/2005	Senate	Placed on Calendar Order of 2nd Reading March 15, 2005
3/15/2005	Senate	Second Reading
3/15/2005	Senate	Placed on Calendar Order of 3rd Reading March 16, 2005
4/12/2005	Senate	Placed on Calendar Order of 3rd Reading ** April 13, 2005
4/15/2005	Senate	Rule 2-10 Third Reading Deadline Extended to December 31, 2005
7/1/2005	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Rules
11/4/2005	Senate	Rule 2-10 Third Reading Deadline Extended to January 9, 2007
2/28/2006	Senate	Chief Sponsor Changed to Sen. Terry Link
2/28/2006	Senate	Approved for Consideration Rules
2/28/2006	Senate	Placed on Calendar Order of 3rd Reading March 1, 2006
2/28/2006	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Terry Link
2/28/2006	Senate	Senate Floor Amendment No. 1 Referred to Rules
2/28/2006	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link
2/28/2006	Senate	Senate Floor Amendment No. 2 Referred to Rules
2/28/2006	Senate	Senate Floor Amendment No. 1 Rules Refers to Revenue
3/1/2006	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Revenue; 006-002-001
3/2/2006	Senate	Senate Floor Amendment No. 2 Be Approved for Consideration Rules
3/2/2006	Senate	Recalled to Second Reading
3/2/2006	Senate	Senate Floor Amendment No. 1 Adopted; Link
3/2/2006	Senate	Senate Floor Amendment No. 2 Adopted; Link
3/2/2006	Senate	Placed on Calendar Order of 3rd Reading
3/2/2006	Senate	Third Reading - Passed; 033-018-002
3/3/2006	House	Arrived in House
3/3/2006	House	Placed on Calendar Order of First Reading
3/3/2006	House	Chief House Sponsor Rep. Robert S. Molaro
3/3/2006	House	Added Alternate Chief Co-Sponsor Rep. Karen May
3/3/2006	House	First Reading
3/3/2006	House	Referred to Rules Committee
3/15/2006	House	Added Alternate Chief Co-Sponsor Rep. Eddie Washington
3/23/2006	House	Assigned to Revenue Committee
3/24/2006	House	Final Action Deadline Extended-9(b) April 7, 2006
3/30/2006	House	House Amendment No. 1 Filed with Clerk by Revenue Committee
3/30/2006	House	House Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
3/30/2006	House	Do Pass as Amended / Short Debate Revenue Committee; 009-001-000
3/30/2006	House	Placed on Calendar 2nd Reading - Short Debate
3/31/2006	Senate	Added as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg
4/3/2006	House	Second Reading - Short Debate
4/3/2006	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/4/2006	House	Third Reading - Short Debate - Passed 064-049-001
4/5/2006	Senate	Secretary's Desk - Concurrence House Amendment(s) 01
4/5/2006	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 01-April 6, 2006
4/5/2006	Senate	House Amendment No. 1 Motion to Concur Filed with Secretary Sen. Terry Link
4/5/2006	Senate	House Amendment No. 1 Motion to Concur Referred to Rules
4/5/2006	Senate	House Amendment No. 1 Motion to Concur Rules Referred to Revenue
4/5/2006	Senate	House Amendment No. 1 Motion To Concur Recommended Do Adopt Revenue; 010-000-000
4/6/2006	Senate	Added as Chief Co-Sponsor Sen. Susan Garrett
4/6/2006	Senate	House Amendment No. 1 Senate Concurs 055-002-000
4/6/2006	Senate	Passed Both Houses
5/5/2006	Senate	Sent to the Governor
6/30/2006	Senate	Governor Approved
6/30/2006	Senate	Effective Date June 30, 2006
6/30/2006	Senate	Public Act . . . . . . . . . 94-0974

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