Illinois House Bill 4543

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 22 2024 - 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. Provides that, if an ordinance is adopted after the effective date of the amendatory Act creating a redevelopment project area, the redevelopment project area will expire the 23rd year after the year in which the first project started using the moneys from the special tax allocation fund (rather than expire the 23rd year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance). Provides that the start of the 23 years for ordinances adopted after the effective date of the amendatory Act commences no later than 10 years after the year in which the ordinance approving the redevelopment project area was adopted even if no projects have been started using the moneys from the special tax allocation fund. Makes a conforming change in provisions extending the expiration of a redevelopment project area to the 35th calendar year. Provides that no more extensions of redevelopment project areas to the 47th calendar year may occur after January 8, 2025 unless added by a Public Act of the 103rd General Assembly. Effective immediately.

MUNI-TIF DISTRICTS-START DATE

Rep. Jackie Haas [R]

Date	Chamber	Action
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-03-08	House	To Revenue - Property Tax Subcommittee
2024-02-14	House	Assigned to Revenue & Finance Committee
2024-01-31	House	Referred to Rules Committee
2024-01-31	House	First Reading
2024-01-22	House	Filed with the Clerk by Rep. Jackie Haas

Chapter	Article	Section	Citation Type	Statute Text
65	5	11-74.4-3.5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4543&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4543.htm