Illinois House Bill 4343 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

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.

LOCAL GOV STABILIZATION ACT

Rep. Thaddeus Jones [D]

Rep. Gregory Harris [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2018-05-29	House	Added Co-Sponsor Rep. Gregory Harris
2018-01-26	House	Referred to Rules Committee
2018-01-26	House	First Reading
2018-01-25	House	Filed with the Clerk by Rep. Thaddeus Jones

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4343&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB4343.htm