Illinois General Assembly - Bill Status for HB4543
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 Bill Status of HB4543  103rd General Assembly


Short Description:  MUNI-TIF DISTRICTS-START DATE

House Sponsors
Rep. Jackie Haas

Last Action
DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-3.5


Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, if an ordinance is adopted after the effective date of the amendatory Act creating a redevelopment project area, the redevelopment project area will expire the 23rd year after the year in which the first project started using the moneys from the special tax allocation fund (rather than expire the 23rd year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance). Provides that the start of the 23 years for ordinances adopted after the effective date of the amendatory Act commences no later than 10 years after the year in which the ordinance approving the redevelopment project area was adopted even if no projects have been started using the moneys from the special tax allocation fund. Makes a conforming change in provisions extending the expiration of a redevelopment project area to the 35th calendar year. Provides that no more extensions of redevelopment project areas to the 47th calendar year may occur after January 8, 2025 unless added by a Public Act of the 103rd General Assembly. Effective immediately.

Actions 
DateChamber Action
  1/22/2024HouseFiled with the Clerk by Rep. Jackie Haas
  1/31/2024HouseFirst Reading
  1/31/2024HouseReferred to Rules Committee
  2/14/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue - Property Tax Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

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