Illinois House Bill 3435 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Bipartisan Bill
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Economic Development Area Tax Increment Allocation Act. Provides that, if the maximum duration for obligations allowed under an economic development plan is less than the maximum duration allowed under the Act, a municipality may, by ordinance, amend the plan to increase the duration up to the maximum duration allowed under the Act. Provides that obligations secured by the special tax allocation fund for an economic development project area shall mature not later than 38 years (now, 23 years) from the date of establishment of the economic development project area. Provides that, under the Act, a municipality has the power to acquire and operate public improvements. Makes other changes. Effective immediately.

ECON DEV AREA-PLAN AMENDMENT

Rep. Fred Crespo [D]

Rep. Thomas Morrison [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-03-17	House	Rule 19(a) / Re-referred to Rules Committee
2011-03-09	House	Added Chief Co-Sponsor Rep. Thomas Morrison
2011-03-01	House	Assigned to Revenue & Finance Committee
2011-02-24	House	Referred to Rules Committee
2011-02-24	House	First Reading
2011-02-24	House	Filed with the Clerk by Rep. Fred Crespo

Chapter	Article	Section	Citation Type	Statute Text
20	620	11	Amended Code	Citation Text
20	620	3	Amended Code	Citation Text
20	620	4	Amended Code	Citation Text
20	620	5	Amended Code	Citation Text
20	620	8	Amended Code	Citation Text
20	620	9	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3435&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB3435.htm