Bill Title: Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that any school district that is affected by the establishment of a tax increment financing district may file an objection with the State Board of Education, alleging: (i) that the redevelopment project area does not meet the criteria for designation; or (ii) that property tax revenue received by the school district after the establishment of the tax increment financing district is likely to be insufficient to allow the school district to meet its obligation to provide a high quality public education to students under Section 1 of Article X of the Illinois Constitution.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB2587 Detail]

Text: Latest bill text (Introduced) [HTML]

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