Illinois House Bill 2701 (Prior Session Legislation)

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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]

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.

TIF-BLIGHTED AREA DEFINITION

Sen. Robert Martwick [D]

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

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=2701&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB2701.htm