Illinois House Bill 2789

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2025 - 25% progression
Action: 2025-02-06 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that property certified by the Department of Revenue as mega project property is eligible for an assessment freeze. Provides that, if property is certified as mega project property, then, during the incentive period, the value added to the property by the project shall not be considered for assessment purposes, and the total valuation of the property during the incentive period shall be limited to the base year valuation. Provides that "mega project" means a project that satisfies certain minimum investment, investment period, and other requirements. Contains provisions concerning incentive agreements between a company that plans to undertake a mega project and a local municipality obligating the company to make special payments in addition to property taxes. Effective June 1, 2025.

PROP TX-MEGA PROJECT

Rep. Mary Canty [D]

Date	Chamber	Action
2025-02-06	House	Referred to Rules Committee
2025-02-06	House	First Reading
2025-02-05	House	Filed with the Clerk by Rep. Mary Beth Canty

Chapter	Article	Section	Citation Type	Statute Text
35	200	10-22	New Code	See Bill Text
35	200	10-900	New Code	See Bill Text
35	200	10-905	New Code	See Bill Text
35	200	10-910	New Code	See Bill Text
35	200	10-915	New Code	See Bill Text
35	200	10-920	New Code	See Bill Text
35	200	10-925	New Code	See Bill Text
35	200	10-930	New Code	See Bill Text
35	200	10-935	New Code	See Bill Text
35	200	10-940	New Code	See Bill Text
35	200	10-945	New Code	See Bill Text
35	200	10-950	New Code	See Bill Text
35	200	10-955	New Code	See Bill Text
35	200	10-960	New Code	See Bill Text
35	200	10-965	New Code	See Bill Text
35	200	10-970	New Code	See Bill Text
35	200	10-980	New Code	See Bill Text
35	200	10-990	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2789&GAID=18&DocTypeID=HB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/HB/10400HB2789.htm