Illinois House Bill 1115

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2023 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. For redevelopment project areas designated after November 1, 1999, in municipalities with less than 1,000,000 population, modifies the formula for elementary, secondary, or unit school district's increased costs attributable to assisted housing units located within the redevelopment project area for which the developer or redeveloper receives financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the assisted housing sites necessary for the completion of that housing. Removes differences in formulation for alternate method districts, flat grant districts, and foundation districts. For school districts in a municipality with a population in excess of 1,000,000, changes the last date upon which a school district may submit a claim for reimbursement to the municipality to October 31 of each year (currently, September 30) and provides that municipalities shall reimburse school districts that have met specified criteria no later than January 31 of the school year in which the claim is made.

TIF-REDEVELOPMENT PROJECT COST

Rep. Lance Yednock [D]

Date	Chamber	Action
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-03-08	House	To Revenue - Property Tax Subcommittee
2024-01-31	House	Assigned to Revenue & Finance Committee
2023-03-10	House	Rule 19(a) / Re-referred to Rules Committee
2023-02-16	House	To Revenue - Property Tax Subcommittee
2023-02-07	House	Assigned to Revenue & Finance Committee
2023-01-12	House	Referred to Rules Committee
2023-01-12	House	First Reading
2023-01-09	House	Prefiled with Clerk by Rep. Lance Yednock

Chapter	Article	Section	Citation Type	Statute Text
65	5	11-74.4-3	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1115&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB1115.htm