Illinois House Bill 4995

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 7 2024 - 25% progression
Action: 2024-02-08 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, before an ordinance may be adopted approving a redevelopment project area, the redevelopment project area must be approved by referendum of the voters of the affected taxing districts. Includes requirements for the ordinance or resolution proposing the redevelopment project area, for submission of and language for the referendum, and approval of the referendum when a majority of the voters in each of the affected taxing districts approve the referendum. Modifies notice requirements for the public meeting, and requires the notification of all voters of the affected taxing districts. Requires notice by publication, mailing, and on the website of the municipality (rather than by publication and mailing), and modifies the timing in which notices must be sent. Requires that a notice also must contain a copy of the proposed ordinance designating the redevelopment project area, a list of all taxes levied by each of the taxing districts that constitute the joint review board, a statement of the projected impact that the redevelopment project area will have on those taxing district, and the proposed referendum language. Makes other changes. Effective immediately.

TIF DISTRICTS-REFERENDUM

Rep. Jeff Keicher [R]

Date	Chamber	Action
2024-02-08	House	Referred to Rules Committee
2024-02-08	House	First Reading
2024-02-07	House	Filed with the Clerk by Rep. Jeff Keicher

Chapter	Article	Section	Citation Type	Statute Text
65	5	11-74.4-5	Amended Code	Citation Text
65	5	11-74.4-6	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4995&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4995.htm