Illinois Senate Bill 2712

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 10 2024 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated date of completion of a redevelopment project and the retirement of obligations issued to finance redevelopment project costs for an ordinance adopted on August 29, 2006 by the City of Ottawa establishing the Ottawa Dayton Industrial TIF District. Creates tax increment allocation financing extensions to the 47th year (currently, the 35th year) for ordinances adopted by the City of Ottawa on December 29, 1993 and September 20, 1994 if the City of Ottawa adopts specified ordinances and provides notice to the taxing bodies that would otherwise constitute the joint review board of each redevelopment project area. Effective immediately.

TIF-CITY OF OTTAWA

Sen. Susan Rezin [R]

Date	Chamber	Action
2024-03-15	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-01-31	Senate	Assigned to Revenue
2024-01-10	Senate	Referred to Assignments
2024-01-10	Senate	First Reading
2024-01-10	Senate	Filed with Secretary by Sen. Sue Rezin

Chapter	Article	Section	Citation Type	Statute Text
65	5	11-74.4-3.5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2712&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2712.htm