HB5556 - 104th General Assembly (2025-2026)

STATEWIDE INNOVATION-PILOT
Last Action
3/18/2026 - House: Assigned to Revenue & Finance Committee
House Sponsors
Rep. Jay Hoffman
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
50 ILCS 475/5-5  
50 ILCS 475/5-10  
50 ILCS 475/5-15  
50 ILCS 475/5-20  
50 ILCS 475/5-30  
50 ILCS 475/5-35  
50 ILCS 475/5-45  
50 ILCS 475/5-70  
35 ILCS 200/Art. 10 Div. 23 heading new  
35 ILCS 200/10-1005 new  
35 ILCS 200/10-1010 new  
35 ILCS 200/10-1015 new  
35 ILCS 200/10-1020 new  
35 ILCS 200/10-1025 new  
35 ILCS 200/10-1030 new  
35 ILCS 200/10-1035 new  
35 ILCS 200/10-1040 new  
35 ILCS 200/10-1045 new  
35 ILCS 200/10-1050 new  
35 ILCS 200/10-1055 new  
35 ILCS 200/10-1060 new  
35 ILCS 200/10-1065 new  
35 ILCS 200/10-1070 new  
35 ILCS 200/10-1075 new  
35 ILCS 200/10-1080 new  
35 ILCS 200/10-1085 new  
35 ILCS 200/10-1090 new  
35 ILCS 200/10-1095 new  
35 ILCS 200/10-1096 new  
35 ILCS 200/10-1097 new  
Synopsis As Introduced
Amends the Statewide Innovation Development and Economy Act. Creates a New Opportunities for Vacation and Adventure Urban District or NOVA urban district. Sets forth the capital investment and job creation requirements to be certified as a NOVA urban district. Amends the Property Tax Code. Creates the Megaproject Assessment Freeze and Payment Law. Provides that property that receives a megaproject certificate from the Department of Commerce and Economic Opportunity is eligible for an assessment freeze. Contains provisions concerning megaproject incentive agreements.
Actions
DateChamberAction
2/06/2026HouseFiled with the Clerk by Rep. Jay Hoffman
2/13/2026HouseFirst Reading
2/13/2026HouseReferred to Rules Committee
3/18/2026HouseAssigned to Revenue & Finance Committee