Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that for redevelopment project areas created on and after the effective date of the amendatory Act, "blighted areas" must have a household median income of 100% or less of the area median income, as defined by the U.S. Department of Housing and Urban Development, in addition to the other requirements for "blighted areas". Provides that on or after January 1, 2019, 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 on or after January 1, 2019 and tax increment revenues may not be transferred to another redevelopment project area on or after January 1, 2019. 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 after January 1, 2019 only to the extent necessary to comply with the contract or agreement.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Failed) 2019-01-08 - Session Sine Die [HB5230 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Introduced	2018-02-15	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5230

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5230 currently on file.

Social Comments on IL HB5230