Bill Status of SB 400   97th General Assembly


Short Description:  PROP TAX-LEASEBACK PROPERTY

Senate Sponsors
Sen. Toi W. Hutchinson-David Koehler-Michael Noland-Linda Holmes, Martin A. Sandoval, Jacqueline Y. Collins, William E. Brady-Donne E. Trotter and Dan Kotowski

House Sponsors
(Rep. Barbara Flynn Currie-Mary E. Flowers-Al Riley-Marlow H. Colvin, Derrick Smith, Kenneth Dunkin and Monique D. Davis)


Last Action  View All Actions

DateChamber Action
  1/10/2012SenatePublic Act . . . . . . . . . 97-0652

Statutes Amended In Order of Appearance
35 ILCS 130/5from Ch. 120, par. 453.5

Synopsis As Introduced
Amends the Cigarette Tax Act. Makes a technical change in a Section concerning tax stamps.

Senate Floor Amendment No. 2
Deletes reference to:
35 ILCS 130/5
Adds reference to:
35 ILCS 200/15-185

Replaces everything after the enacting clause. Amends the Property Tax Code. In a Section concerning exemptions for leaseback properties, provides that the Section applies to property owned by any municipality or unit of local government. Provides that, in the case of a conveyance of that property, the municipality or unit of local government must retain an option to purchase the property at a future date or, within the limitations period for reverters, the property must revert back to the municipality or unit of local government. Provides that, for exemption purposes, the property shall be treated as though the lessee were the owner of the property, as long as the property on which the leased improvements are or will be located is used for school, religious, or charitable purposes pursuant to that lease or any renewal thereof. Contains provisions requiring that the funds received from the conveyance of the property must be used for certain purposes. Effective immediately.

Senate Floor Amendment No. 3
Replaces everything after the enacting clause. Amends the Property Tax Code. In a Section concerning exemptions for leaseback property, provides that the Section applies to all property that is exempt under Article 15 of the Property Tax Code. Provides that, for exemption purposes, the property shall be treated as though the lessee were the owner of the property as long as the property on which the leased improvements is located is used for school, religious, or charitable purposes pursuant to that lease or any renewal of that lease. Contains provisions requiring that the funds received from the conveyance of the property must be used for certain purposes. Provides that projects using funds from the sale of certain property that is subject to a leaseback are subject to the provisions of the Illinois Prevailing Wage Act for the initial construction of the improvements and all bidders for those projects shall comply with the Illinois Procurement Code. Effective immediately.

House Committee Amendment No. 1
Deletes reference to:
35 ILCS 200/15-185
Adds reference to:
35 ILCS 200/1-55

Replaces everything after the enacting clause. Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".

House Floor Amendment No. 2
Deletes reference to:
35 ILCS 200/1-55
Adds reference to:
35 ILCS 5/204from Ch. 120, par. 2-204
35 ILCS 5/212

Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Provides that the earned income tax credit is (i) 7.5% of the federal tax credit for each taxable year beginning on or after January 1, 2012 and ending prior to December 31, 2013 and (ii) 10% of the federal tax credit for each taxable year beginning on or after January 1, 2013. Provides that the standard exemption is (i) $2,050 for taxable years ending on or after December 31, 2012 and prior to December 31, 2013 and (ii) $2,050 plus a cost-of-living adjustment for taxable years ending on or after December 31, 2013.

Actions 
DateChamber Action
  2/8/2011SenateFiled with Secretary by Sen. John J. Cullerton
  2/8/2011SenateFirst Reading
  2/8/2011SenateReferred to Assignments
  3/9/2011SenateAssigned to Executive
  3/17/2011SenateDo Pass Executive; 015-000-000
  3/17/2011SenatePlaced on Calendar Order of 2nd Reading March 17, 2011
  3/17/2011SenateSecond Reading
  3/17/2011SenatePlaced on Calendar Order of 3rd Reading March 29, 2011
  4/6/2011SenateChief Sponsor Changed to Sen. James F. Clayborne, Jr.
  4/11/2011SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr.
  4/11/2011SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/11/2011SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. James F. Clayborne, Jr.
  4/11/2011SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/12/2011SenateSenate Floor Amendment No. 1 Assignments Refers to Judiciary
  4/12/2011SenateSenate Floor Amendment No. 2 Assignments Refers to Judiciary
  4/12/2011SenateSenate Floor Amendment No. 1 Postponed - Judiciary
  4/12/2011SenateSenate Floor Amendment No. 2 Postponed - Judiciary
  4/15/2011SenateRule 2-10 Third Reading Deadline Established As May 4, 2011
  5/10/2011SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. James F. Clayborne, Jr.
  5/10/2011SenateSenate Floor Amendment No. 3 Referred to Assignments
  5/10/2011SenateSenate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 007-001-001
  5/11/2011SenateAdded as Chief Co-Sponsor Sen. David Koehler
  5/12/2011SenateSenate Floor Amendment No. 3 Assignments Refers to Judiciary
  5/13/2011SenateSenate Floor Amendment No. 3 Recommend Do Adopt Judiciary; 008-000-000
  5/13/2011SenateAdded as Chief Co-Sponsor Sen. Michael Noland
  5/13/2011SenateRule 2-10 Third Reading Deadline Established As May 31, 2011
  5/17/2011SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
  5/18/2011SenateAdded as Co-Sponsor Sen. Darin M. LaHood
  5/18/2011SenateAdded as Co-Sponsor Sen. Martin A. Sandoval
  5/20/2011SenateSenate Floor Amendment No. 4 Filed with Secretary by Sen. James F. Clayborne, Jr.
  5/20/2011SenateSenate Floor Amendment No. 4 Referred to Assignments
  5/24/2011SenateRecalled to Second Reading
  5/24/2011SenateSenate Floor Amendment No. 2 Adopted; Clayborne
  5/24/2011SenateSenate Floor Amendment No. 3 Adopted; Clayborne
  5/24/2011SenatePlaced on Calendar Order of 3rd Reading
  5/24/2011SenateThird Reading - Passed; 037-017-001
  5/24/2011SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  5/24/2011SenateSenate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a)
  5/25/2011HouseArrived in House
  5/25/2011HousePlaced on Calendar Order of First Reading
  5/25/2011HouseChief House Sponsor Rep. Jehan A. Gordon
  5/25/2011HouseAdded Alternate Chief Co-Sponsor Rep. Joe Sosnowski
  5/25/2011HouseFirst Reading
  5/25/2011HouseReferred to Rules Committee
  5/25/2011HouseAlternate Chief Sponsor Removed Rep. Jehan A. Gordon
  5/26/2011HouseAdded Alternate Chief Co-Sponsor Rep. Patrick J. Verschoore
  5/26/2011HouseAdded Alternate Chief Co-Sponsor Rep. Mary E. Flowers
  5/28/2011HouseAdded Alternate Co-Sponsor Rep. Derrick Smith
  5/29/2011HouseAdded Alternate Co-Sponsor Rep. Michael Unes
  5/30/2011HouseAdded Alternate Chief Co-Sponsor Rep. David R. Leitch
  11/2/2011HouseFinal Action Deadline Extended-9(b) November 10, 2011
  11/2/2011HouseAssigned to Revenue & Finance Committee
  11/8/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Barbara Flynn Currie
  11/8/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  11/8/2011HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  11/10/2011HouseFinal Action Deadline Extended-9(b) November 30, 2011
  11/27/2011HouseChief House Sponsor Rep. Barbara Flynn Currie
  11/29/2011HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  11/29/2011HouseDo Pass as Amended / Standard Debate Revenue & Finance Committee; 005-004-000
  11/29/2011HousePlaced on Calendar 2nd Reading - Standard Debate
  11/29/2011HouseSecond Reading - Standard Debate
  11/29/2011HouseHeld on Calendar Order of Second Reading - Standard Debate
  11/30/2011HouseFinal Action Deadline Extended-9(b) December 31, 2011
  12/8/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Barbara Flynn Currie
  12/8/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  12/8/2011HouseHouse Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee
  12/12/2011HouseAlternate Chief Co-Sponsor Removed Rep. David R. Leitch
  12/12/2011HouseAlternate Chief Co-Sponsor Removed Rep. Joe Sosnowski
  12/12/2011HouseAlternate Co-Sponsor Removed Rep. Michael Unes
  12/12/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Revenue & Finance Committee; 007-002-000
  12/12/2011HouseAdded Alternate Chief Co-Sponsor Rep. Al Riley
  12/12/2011HouseHouse Floor Amendment No. 2 Adopted by Voice Vote
  12/12/2011HousePlaced on Calendar Order of 3rd Reading - Standard Debate
  12/12/2011HouseAdded Alternate Chief Co-Sponsor Rep. Marlow H. Colvin
  12/12/2011HouseAlternate Chief Co-Sponsor Removed Rep. Patrick J. Verschoore
  12/12/2011HouseAdded Alternate Co-Sponsor Rep. Kenneth Dunkin
  12/12/2011HouseAdded Alternate Co-Sponsor Rep. Monique D. Davis
  12/12/2011HouseThird Reading - Standard Debate - Passed 067-049-000
  12/13/2011SenateSecretary's Desk - Concurrence House Amendment(s) 1, 2
  12/13/2011SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 2 - December 13, 2011
  12/13/2011SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  12/13/2011SenateChief Sponsor Changed to Sen. Toi W. Hutchinson
  12/13/2011SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Toi W. Hutchinson
  12/13/2011SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  12/13/2011SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Toi W. Hutchinson
  12/13/2011SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  12/13/2011SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
  12/13/2011SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive
  12/13/2011SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 014-001-000
  12/13/2011SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 014-001-000
  12/13/2011SenateSponsor Removed Sen. Darin M. LaHood
  12/13/2011SenateAdded as Co-Sponsor Sen. William E. Brady
  12/13/2011SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter
  12/13/2011SenateAdded as Co-Sponsor Sen. Dan Kotowski
  12/13/2011SenateHouse Committee Amendment No. 1 Senate Concurs 048-004-000
  12/13/2011SenateHouse Floor Amendment No. 2 Senate Concurs 048-004-000
  12/13/2011SenatePassed Both Houses
  12/15/2011SenateSent to the Governor
  1/10/2012SenateGovernor Approved
  1/10/2012SenateEffective Date June 1, 2012
  1/10/2012SenatePublic Act . . . . . . . . . 97-0652

Back To Top