Date	Chamber	Action
8/16/2013	Senate	Public Act . . . . . . . . . 98-0494

Statutes Amended In Order of Appearance

35 ILCS 200/10-370

Synopsis As Introduced
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.

Senate Committee Amendment No. 1

	Adds reference to:
	35 ILCS 200/10-365

35 ILCS 200/10-380

Replaces everything after the enacting clause. In a Section concerning valuation of PPV leases, provides that the term "net income" means all revenues received minus the lesser of (i) 62% (instead of 42%) of all revenues or (ii) actual expenses before interest, taxes, depreciation, and amortization. Provides that the provisions of the Property Tax Code concerning valuation of PPV leases apply only through taxable year 2015.

Senate Floor Amendment No. 2
Provides that the provisions of Senate Amendment 1 concerning the definition of "net operating income" apply only to naval facilities.

Actions 

Date	Chamber	Action
2/15/2013	Senate	Filed with Secretary by Sen. Terry Link
2/15/2013	Senate	First Reading
2/15/2013	Senate	Referred to Assignments
3/5/2013	Senate	Assigned to Revenue
3/12/2013	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
3/12/2013	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/13/2013	Senate	Senate Committee Amendment No. 1 Assignments Refers to Revenue
3/13/2013	Senate	Senate Committee Amendment No. 1 Adopted
3/13/2013	Senate	Do Pass as Amended Revenue; 010-000-000
3/13/2013	Senate	Placed on Calendar Order of 2nd Reading March 14, 2013
3/19/2013	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link
3/19/2013	Senate	Senate Floor Amendment No. 2 Referred to Assignments
3/20/2013	Senate	Senate Floor Amendment No. 2 Assignments Refers to Revenue
3/20/2013	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Revenue; 011-000-000
4/10/2013	Senate	Second Reading
4/10/2013	Senate	Senate Floor Amendment No. 2 Adopted; Link
4/10/2013	Senate	Placed on Calendar Order of 3rd Reading April 11, 2013
4/11/2013	Senate	Added as Chief Co-Sponsor Sen. Iris Y. Martinez
4/12/2013	Senate	Added as Co-Sponsor Sen. Michael E. Hastings
4/12/2013	Senate	Third Reading - Passed; 052-000-000
4/12/2013	House	Arrived in House
4/12/2013	House	Chief House Sponsor Rep. Ed Sullivan, Jr.
4/12/2013	House	First Reading
4/12/2013	House	Referred to Rules Committee
5/1/2013	House	Alternate Chief Sponsor Changed to Rep. Rita Mayfield
5/1/2013	House	Added Alternate Chief Co-Sponsor Rep. Ed Sullivan, Jr.
5/1/2013	House	Assigned to Revenue & Finance Committee
5/2/2013	House	To Property Tax Subcommittee
5/8/2013	House	Added Alternate Chief Co-Sponsor Rep. David Harris
5/9/2013	House	Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 005-000-000
5/9/2013	House	Remains in Revenue & Finance Committee
5/9/2013	House	Do Pass / Short Debate Revenue & Finance Committee; 010-000-000
5/9/2013	House	Placed on Calendar 2nd Reading - Short Debate
5/10/2013	House	Second Reading - Short Debate
5/10/2013	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/15/2013	House	Added Alternate Chief Co-Sponsor Rep. Robyn Gabel
5/15/2013	House	Added Alternate Chief Co-Sponsor Rep. Martin J. Moylan
5/16/2013	House	Added Alternate Co-Sponsor Rep. Camille Y. Lilly
5/20/2013	House	Third Reading - Short Debate - Passed 097-011-002
5/20/2013	Senate	Passed Both Houses
5/20/2013	House	Added Alternate Co-Sponsor Rep. Carol A. Sente
5/20/2013	House	Added Alternate Co-Sponsor Rep. Thaddeus Jones
6/18/2013	Senate	Sent to the Governor
8/16/2013	Senate	Governor Approved
8/16/2013	Senate	Effective Date January 1, 2014
8/16/2013	Senate	Public Act . . . . . . . . . 98-0494

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