Illinois Compiled Statutes 815 ILCS 636/10.5 – Adjusted capitalized cost
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 815 ILCS 636/10.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The amount which serves as the basis for determining the base lease payment, computed by subtracting from the capitalized cost any capitalized cost reduction.