republic-os/legislation/us/states/il/98th/sb-1953.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	PROP TX-PPV LEASES	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.	us/states/il	Illinois General Assembly	98th	SB 1953	Illinois SB 1953 (98th)	bill		enacted		3	46	2	2013-02-15	2013-08-16	openstates	ocd-bill/99f1430c-336e-424c-a566-ba82c87f833f	http://ilga.gov/legislation/BillStatus.asp?DocNum=1953&GAID=12&DocTypeID=SB&LegId=73531&SessionID=85&GA=98	4a6b0155d787ddef53234e37d5892efc0c549c91d904289a0e86f5d109912019	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois SB 1953 (98th) — PROP TX-PPV LEASES

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.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. Introduced (filed) — source
2. Engrossed (committee substitute) — source
3. Enrolled (enrolled) — source

Votes

• Third Reading — 97–11 (pass) · lower
• Third Reading — 52–0 (pass) · upper

Sponsors

• Camille Y. Lilly — cosponsor (person)
• Carol A. Sente — cosponsor (person)
• Terry Link — primary (person)
• Thaddeus Jones — cosponsor (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2013-02-15 Filed with Secretary by Sen. Terry Link filing
• 2013-02-15 First Reading reading-1
• 2013-02-15 Referred to Assignments referral-committee
• 2013-03-05 Assigned to Revenue referral-committee
• 2013-03-12 Senate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link amendment-introduction
• 2013-03-12 Senate Committee Amendment No. 1 Referred to Assignments referral-committee
• 2013-03-13 Senate Committee Amendment No. 1 Assignments Refers to Revenue
• 2013-03-13 Senate Committee Amendment No. 1 Adopted amendment-passage
• 2013-03-13 Do Pass as Amended Revenue; 010-000-000 committee-passage
• 2013-03-13 Placed on Calendar Order of 2nd Reading March 14, 2013
• 2013-03-19 Senate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link amendment-introduction
• 2013-03-19 Senate Floor Amendment No. 2 Referred to Assignments referral-committee
• 2013-03-20 Senate Floor Amendment No. 2 Assignments Refers to Revenue
• 2013-03-20 Senate Floor Amendment No. 2 Recommend Do Adopt Revenue; 011-000-000
• 2013-04-10 Second Reading reading-2
• 2013-04-10 Senate Floor Amendment No. 2 Adopted; Link amendment-passage
• 2013-04-10 Placed on Calendar Order of 3rd Reading April 11, 2013
• 2013-04-11 Added as Chief Co-Sponsor Sen. Iris Y. Martinez
• 2013-04-12 Added as Co-Sponsor Sen. Michael E. Hastings
• 2013-04-12 Third Reading - Passed; 052-000-000 reading-3, passage
• 2013-04-12 Arrived in House introduction
• 2013-04-12 Chief House Sponsor Rep. Ed Sullivan, Jr.
• 2013-04-12 First Reading reading-1
• 2013-04-12 Referred to Rules Committee referral-committee
• 2013-05-01 Alternate Chief Sponsor Changed to Rep. Rita Mayfield
• 2013-05-01 Added Alternate Chief Co-Sponsor Rep. Ed Sullivan, Jr.
• 2013-05-01 Assigned to Revenue & Finance Committee referral-committee
• 2013-05-02 To Property Tax Subcommittee
• 2013-05-08 Added Alternate Chief Co-Sponsor Rep. David Harris
• 2013-05-09 Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 005-000-000 committee-passage
• 2013-05-09 Remains in Revenue & Finance Committee
• 2013-05-09 Do Pass / Short Debate Revenue & Finance Committee; 010-000-000 committee-passage
• 2013-05-09 Placed on Calendar 2nd Reading - Short Debate
• 2013-05-10 Second Reading - Short Debate reading-2
• 2013-05-10 Placed on Calendar Order of 3rd Reading - Short Debate
• 2013-05-15 Added Alternate Chief Co-Sponsor Rep. Robyn Gabel
• 2013-05-15 Added Alternate Chief Co-Sponsor Rep. Martin J. Moylan
• 2013-05-16 Added Alternate Co-Sponsor Rep. Camille Y. Lilly
• 2013-05-20 Third Reading - Short Debate - Passed 097-011-002 reading-3, passage
• 2013-05-20 Passed Both Houses
• 2013-05-20 Added Alternate Co-Sponsor Rep. Carol A. Sente
• 2013-05-20 Added Alternate Co-Sponsor Rep. Thaddeus Jones
• 2013-06-18 Sent to the Governor executive-receipt
• 2013-08-16 Governor Approved executive-signature
• 2013-08-16 Effective Date January 1, 2014
• 2013-08-16 Public Act . . . . . . . . . 98-0494 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/99f1430c-336e-424c-a566-ba82c87f833f. Confidence: reported (aggregated from official Illinois legislature records).