Bill Title: Amends the Statewide Innovation Development and Economy Act. Creates a New Opportunities for Vacation and Adventure Urban District or NOVA urban district. Sets forth the capital investment and job creation requirements to be certified as a NOVA urban district. Amends the Property Tax Code. Creates the Megaproject Assessment Freeze and Payment Law. Provides that property that receives a megaproject certificate from the Department of Commerce and Economic Opportunity is eligible for an assessment freeze. Contains provisions concerning megaproject incentive agreements.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced) 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB5556 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-02-06	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5556

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5556 currently on file.