IL HB5799 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that on or after the effective date of the amendatory Act, tax increment revenues may be utilized for jointly undertaken and performed redevelopment projects only in an amount equal to the percentage of eligible costs undertaken within the redevelopment project area that received the revenue. Provides that tax increment revenues received in one redevelopment project area may not be used for eligible costs in another redevelopment project area and tax increment revenues may not be transferred to another redevelopment project area. Provides that if there are any contracts or agreements in force on the effective date of the amendatory Act, tax increment revenues may continue to be used or transferred to another redevelopment project area or utilized for jointly undertaken and performed redevelopment projects only to the extent necessary to comply with the contract or agreement.
Title
TIF-TRANSFERS BETWEEN AREAS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2018-04-13 | House | Rule 19(a) / Re-referred to Rules Committee |
2018-04-12 | House | To Growth, Reform & Fairness Subcommittee |
2018-03-21 | House | Assigned to Revenue & Finance Committee |
2018-02-16 | House | Referred to Rules Committee |
2018-02-16 | House | First Reading |
2018-02-16 | House | Filed with the Clerk by Rep. Mark Batinick |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
65 | 5 | 11-74.4-4 | Amended Code | Citation Text |
65 | 5 | 11-74.4-4.3 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5799&GAID=14&DocTypeID=HB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/HB/10000HB5799.htm |