Bill Status of HB 6903   96th General Assembly

Short Description:  MUNI CD-TIF-EXEMPT SCHOOLS

House Sponsors
Rep. John A. Fritchey

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-7from Ch. 24, par. 11-74.4-7

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that all accumulated tax incremental revenues not specifically appropriated for defined costs for projects within a redevelopment project area by the end of a municipality's fiscal year shall be deemed "surplus" funds. Provides that all surplus funds in the special tax allocation fund shall be distributed annually within 60 (instead of 180) days after the close of the municipality's fiscal year. Effective immediately.

Actions 
DateChamber Action
  8/27/2010HouseFiled with the Clerk by Rep. John A. Fritchey
  11/10/2010HouseFirst Reading
  11/10/2010HouseReferred to Rules Committee
  1/11/2011HouseSession Sine Die

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