IL HB1063

Amends Section 20-15 of the Property Tax Code to require information about tax increment financing (TIF) districts and redevelopment projects be printed on property tax bills or separate statements mailed with bills.

Requires listing of each redevelopment project associated with a TIF district that has been completed during or before the taxable year for which the bill is prepared, or is in the process of being completed during that taxable year.

Maintains existing requirements for property tax bills to itemize tax rates for each taxing district, show dollar amounts allocated to each district, and provide property assessment details and homestead exemption information.

Preserves requirement that bills include information about potential tax exemptions, abatements, and assistance programs available to taxpayers.

Maintains that bill statement requirements are mandatory statutory duties and failure to comply does not affect the validity of taxes or taxpayer liability for payment.