Illinois General Assembly - Bill Status for HB4318
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 Bill Status of HB4318  98th General Assembly

Short Description:  PROP TX-PPV LEASES

House Sponsors
Rep. Scott Drury

Last Action
DateChamber Action
  12/3/2014HouseSession 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.

 Land Conveyance Appraisal Note (Dept. of Transportation)
 No land conveyances are included in this bill; therefore, there are no appraisals to be filed.

 Correctional Note (Dept of Corrections)
 There are no penalty enhancements associated with this bill. The bill would have no fiscal or population impact on the Department of Corrections.

 Judicial Note (Admin Office of the Illinois Courts)
 This bill would neither increase nor decrease the number of judges needed in the State.

 State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)
 HB 4318 does not create a State mandate.

 Home Rule Note (Dept. of Commerce & Economic Opportunity)
 HB 4318 does not pre-empt home rule authority.

 State Debt Impact Note (Government Forecasting & Accountability)
 HB 4318 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness.

 Pension Note (Government Forecasting & Accountability)
 HB 4318 will not impact any public pension fund or retirement system in Illinois.

 Judicial Note (Admin Office of the Illinois Courts)
 This bill would neither increase nor decrease the number of judges needed in the State.

 Housing Affordability Impact Note (Housing Development Authority)
 This bill will have no effect on the cost of constructing, purchasing, owning, or selling a single-family residence.

 Balanced Budget Note (Office of Management and Budget)
 HB 4318 does not have any fiscal impact on State revenues.

 Fiscal Note (Dept. of Revenue)
 HB 4318 will have no fiscal impact on State revenues.

Actions 
DateChamber Action
  1/27/2014HouseFiled with the Clerk by Rep. Scott Drury
  1/28/2014HouseFirst Reading
  1/28/2014HouseReferred to Rules Committee
  2/4/2014HouseAssigned to Revenue & Finance Committee
  2/20/2014HouseTo Property Tax Subcommittee
  2/27/2014HouseFiscal Note Requested by Rep. Rita Mayfield
  2/27/2014HouseState Mandates Fiscal Note Requested by Rep. Rita Mayfield
  2/27/2014HouseBalanced Budget Note Requested by Rep. Rita Mayfield
  2/27/2014HouseCorrectional Note Requested by Rep. Rita Mayfield
  2/27/2014HouseHome Rule Note Requested by Rep. Rita Mayfield
  2/27/2014HouseHousing Affordability Impact Note Requested by Rep. Rita Mayfield
  2/27/2014HouseJudicial Note Requested by Rep. Rita Mayfield
  2/27/2014HouseLand Conveyance Appraisal Note Requested by Rep. Rita Mayfield
  2/27/2014HousePension Note Requested by Rep. Rita Mayfield
  2/27/2014HouseState Debt Impact Note Requested by Rep. Rita Mayfield
  2/27/2014HouseLand Conveyance Appraisal Note Filed
  2/27/2014HouseCorrectional Note Filed
  2/27/2014HouseJudicial Note Filed
  2/28/2014HouseState Mandates Fiscal Note Filed
  2/28/2014HouseHome Rule Note Filed
  2/28/2014HouseState Debt Impact Note Filed
  3/3/2014HousePension Note Filed
  3/4/2014HouseJudicial Note Filed
  3/5/2014HouseHousing Affordability Impact Note Filed
  3/6/2014HouseBalanced Budget Note Filed
  3/11/2014HouseFiscal Note Filed
  3/28/2014HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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