Bill Status of HB4712

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HB4712 - 104th General Assembly

MUNI CD-TIF SURPLUS FUNDS
Last Action
3/27/2026 - House: Rule 19(a) / Re-referred to Rules Committee
House Sponsors
Rep. Robert "Bob" Rita
Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-7from Ch. 24, par. 11-74.4-7
65 ILCS 5/11-74.4-8from Ch. 24, par. 11-74.4-8
Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that not more than 5% of all surplus funds in the special tax allocation fund may be distributed. Provides that surplus funds in the special tax allocation fund may be distributed not more than once every 10 years (rather than annually). Provides that, if the termination date for a redevelopment project area is extended beyond the 23rd calendar year after the year in which the ordinance approving the redevelopment project area was adopted, then following the 23rd calendar year, no surplus funds may be distributed until the redevelopment project area is terminated. Effective immediately.
Actions
Date Chamber Action
1/30/2026 House Filed with the Clerk by Rep. Robert "Bob" Rita
2/06/2026 House First Reading
2/06/2026 House Referred to Rules Committee
3/12/2026 House Assigned to Revenue & Finance Committee
3/27/2026 House Rule 19(a) / Re-referred to Rules Committee