Illinois General Assembly - Bill Status for HB6903

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

Date	Chamber	Action
8/27/2010	House	Filed with the Clerk by Rep. John A. Fritchey
11/10/2010	House	First Reading
11/10/2010	House	Referred to Rules Committee
1/11/2011	House	Session Sine Die

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