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IL HB0411

Bill

Official Source

Status

Introduced

1/29/2021

Primary Sponsor

Jay Hoffman

Click for details

Origin

House of Representatives

102nd General Assembly

AI Summary

  • Extends the estimated completion dates and retirement of debt obligations for two tax increment financing (TIF) redevelopment projects in Fairmont City established by ordinances adopted on August 4, 1999 and October 2, 1999.

  • Changes Section 11-74.4-3.5 of the Illinois Municipal Code to add two new subsections (189) and (190) specifying extended completion dates for Fairmont City's TIF projects based on the 35th calendar year after project area adoption.

  • Becomes effective immediately upon becoming law.

Legislative Description

TIF-FAIRMONT CITY

Last Action

Added Chief Co-Sponsor Rep. Anne Stava-Murray

8/19/2021

Committee Referrals

Rules3/27/2021
Property Tax3/11/2021
Revenue & Finance3/2/2021
Rules2/8/2021

Full Bill Text

No bill text available