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IL HB2964

Bill

Official Source

Status

Failed

1/8/2019

Primary Sponsor

Elaine Nekritz

Click for details

Origin

House of Representatives

100th General Assembly

AI Summary

  • Amends the Tax Increment Allocation Redevelopment Act within the Illinois Municipal Code by adding Section 11-74.4-3.7
  • Prohibits property from being included in a new redevelopment project area for 15 years after a previous redevelopment project area has been dissolved, completed, or terminated
  • Applies to all redevelopment project areas regardless of how they ended (dissolution, completion, or termination)
  • Establishes a mandatory waiting period to prevent immediate re-designation of former TIF district properties into new TIF districts

Legislative Description

TIF-REDEVELOPMENT PROJECT AREA

Last Action

Session Sine Die

1/8/2019

Committee Referrals

Rules4/28/2017
Revenue & Finance3/16/2017
Property Tax3/9/2017
Revenue & Finance2/22/2017
Rules2/9/2017

Full Bill Text

No bill text available