IL HB2701 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 14 2019 - 25% progression, died in committee
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 of the Illinois Municipal Code. Provides that in order to use a decline in the total equalized assessed value of the proposed redevelopment project area for 3 of the last 5 calendar years as a factor in designating an area "blighted", the municipality must rely on appraisal evidence to show the proposed redevelopment project area's equalized assessed value has declined if the properties within the redevelopment project area had been utilized using the properties' highest and best use during the relevant period. Effective immediately.
Title
TIF-BLIGHTED AREA DEFINITION
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-03-29 | House | Rule 19(a) / Re-referred to Rules Committee |
2019-03-06 | House | To Property Tax Subcommittee |
2019-02-26 | House | Assigned to Revenue & Finance Committee |
2019-02-14 | House | Referred to Rules Committee |
2019-02-14 | House | First Reading |
2019-02-14 | House | Filed with the Clerk by Rep. Robert Martwick |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
65 | 5 | 11-74.4-3 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2701&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/HB/10100HB2701.htm |