IL HB0729 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 25 2017 - 25% progression
Action: 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the Local Government Stabilization Authority Act. Authorizes the corporate authorities of Bloom Township, Bremen Township, Calumet Township, Rich Township, and Thornton Township in Cook County to establish, by ordinance, a Local Government Stabilization Authority that shall use available funds to facilitate the return of vacant, abandoned, and tax-delinquent properties to productive use, combatting community deterioration, and creating economic growth. Provides definitions. Sets forth procedure regarding the creation of an Authority and funding sources. Further provides for the following: (1) an Authority's tax-exempt status; (2) the appointment of the Board of Directors and Chairperson, their terms of office, their removal, and vacancies; (3) the responsibilities and powers of the Board of Directors; and (4) an Executive Director to administer an Authority on a day-to-day basis. Sets forth the powers of an Authority to implement the purpose of the Act, including the authority to borrow money, enter into partnerships and joint ventures, and contract for goods and services. Permits an Authority to acquire, hold, manage, and dispose of real property. Requires an Authority to prepare an annual budget and provide annual financial statements and reports to the corporate authorities. Permits the corporate authorities to dissolve an Authority and provides requirements regarding the transfer of an Authority's debts, liabilities, and obligations. Effective immediately.

Tracking Information

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Title

LOCAL GOV STABILIZATION ACT

Sponsors


History

DateChamberAction
2017-03-31HouseRule 19(a) / Re-referred to Rules Committee
2017-02-22HouseRemains in Cities & Villages Committee
2017-02-22HouseMotion Do Pass - Lost Cities & Villages Committee; 007-006-000
2017-02-08HouseAssigned to Cities & Villages Committee
2017-01-27HouseReferred to Rules Committee
2017-01-27HouseFirst Reading
2017-01-25HouseFiled with the Clerk by Rep. Thaddeus Jones

Illinois State Sources


Bill Comments

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