IL SB2880 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
TIF-BLIGHT AND UTILIZE REVENUE
Sponsors
History
Date | Chamber | Action |
---|---|---|
2019-01-09 | Senate | Session Sine Die |
2018-04-27 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2018-04-13 | Senate | Rule 2-10 Committee Deadline Established As April 27, 2018 |
2018-03-14 | Senate | Added as Co-Sponsor Sen. Dale A. Righter |
2018-02-21 | Senate | Assigned to Revenue |
2018-02-14 | Senate | Referred to Assignments |
2018-02-14 | Senate | First Reading |
2018-02-14 | Senate | Filed with Secretary by Sen. John F. Curran |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
65 | 5 | 11-74.4-3 | Amended Code | Citation Text |
65 | 5 | 11-74.4-3.1 | Amended Code | Citation Text |
65 | 5 | 11-74.4-4 | Amended Code | Citation Text |
65 | 5 | 11-74.4-4.3 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2880&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
Text | https://www.ilga.gov/legislation/100/SB/10000SB2880.htm |