IL HB0304 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 10 2019 - 25% progression
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that all obligations issued by a non-home rule municipality in connection with the Tax Increment Allocation Redevelopment Act (instead of TIF obligations secured by the full faith and credit of the municipality) are subject to a backdoor referendum. Provides that a petition calling for a referendum on the issuance of those bonds shall be filed within 45 (instead of 30) days after the publication of the ordinance. Makes changes concerning the signature requirement for those petitions. Effective immediately.

Tracking Information

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Title

MUNI CD-TIF BONDS

Sponsors


History

DateChamberAction
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-02-14HouseTo Property Tax Subcommittee
2019-02-05HouseAssigned to Revenue & Finance Committee
2019-01-30HouseAdded Chief Co-Sponsor Rep. Allen Skillicorn
2019-01-10HouseReferred to Rules Committee
2019-01-10HouseFirst Reading
2019-01-10HouseFiled with the Clerk by Rep. David McSweeney

Code Citations

ChapterArticleSectionCitation TypeStatute Text
65511-74.4-7Amended CodeCitation Text

Illinois State Sources


Bill Comments

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