HB2789 - 104th General Assembly (2025-2026)

PROP TX-MEGA PROJECT
Last Action
2/26/2026 - House: To Tax Credit and Incentives Subcommittee
Hearings
Tax Policy: Sales Tax Subcommittee Hearing Mar 26 2026 8:08AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Other Taxes Subcommittee Hearing Mar 26 2026 8:07AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Income Tax Subcommittee Hearing Mar 26 2026 8:06AM Stratton Building Room D-1 Springfield, IL
Tax Policy: Finance Subcommittee Hearing Mar 26 2026 8:05AM Stratton Building Room D-1 Springfield, IL
Tax Credit and Incentives Subcommittee Hearing Mar 26 2026 8:04AM Stratton Building Room D-1 Springfield, IL
Sales Tax Subcommittee Hearing Mar 26 2026 8:03AM Stratton Building Room D-1 Springfield, IL
Revenue & Finance Committee Hearing Mar 26 2026 8:00AM Stratton Building Room D-1 Springfield, IL
Property Tax Subcommittee Hearing Mar 26 2026 8:02AM Stratton Building Room D-1 Springfield, IL
Income Tax Subcommittee Hearing Mar 26 2026 8:01AM Stratton Building Room D-1 Springfield, IL
Finance Subcommittee Hearing Mar 26
Statutes Amended In Order of Appearance
35 ILCS 200/Art. 10 Div. 22 heading new  
35 ILCS 200/10-900 new  
35 ILCS 200/10-905 new  
35 ILCS 200/10-910 new  
35 ILCS 200/10-915 new  
35 ILCS 200/10-920 new  
35 ILCS 200/10-925 new  
35 ILCS 200/10-930 new  
35 ILCS 200/10-935 new  
35 ILCS 200/10-940 new  
35 ILCS 200/10-945 new  
35 ILCS 200/10-950 new  
35 ILCS 200/10-955 new  
35 ILCS 200/10-960 new  
35 ILCS 200/10-965 new  
35 ILCS 200/10-970 new  
35 ILCS 200/10-980 new  
35 ILCS 200/10-990 new  
Synopsis As Introduced
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.
Actions
DateChamberAction
2/05/2025HouseFiled with the Clerk by Rep. Mary Beth Canty
2/06/2025HouseFirst Reading
2/06/2025HouseReferred to Rules Committee
3/04/2025HouseAssigned to Revenue & Finance Committee
3/06/2025HouseTo Tax Credit and Incentives Subcommittee
3/21/2025HouseRule 19(a) / Re-referred to Rules Committee
4/22/2025HouseAdded Co-Sponsor Rep. Nicolle Grasse
8/21/2025HouseAdded Chief Co-Sponsor Rep. Anthony DeLuca
1/21/2026HouseAdded Chief Co-Sponsor Rep. Tracy Katz Muhl
1/21/2026HouseAdded Co-Sponsor Rep. Daniel Didech
1/21/2026HouseAdded Co-Sponsor Rep. Dagmara Avelar
2/11/2026HouseAssigned to Revenue & Finance Committee
2/19/2026HouseAdded Co-Sponsor Rep. Michelle Mussman
2/26/2026HouseTo Tax Credit and Incentives Subcommittee