IL SB1644

Requires property tax bills to include a statement for each tax increment financing (TIF) district showing how much money each overlapping taxing district (schools, parks, libraries, etc.) would have received that year if the TIF district did not exist

Amends Section 20-15 of the Property Tax Code to add this new TIF transparency disclosure requirement

Applies to all properties located within TIF districts, requiring the information to be printed on the tax bill or on a separate slip mailed with the bill

Takes effect immediately upon becoming law