Illinois General Assembly - Bill Status for HB1976

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Bill Status of HB1976 97th General Assembly

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Short Description: MUNI-TIF-REDEVELOPMENT COSTS

House Sponsors
Rep. Cynthia Soto

Last Action

Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

65 ILCS 5/11-74.4-3

from Ch. 24, par. 11-74.4-3

65 ILCS 5/11-74.4-4

from Ch. 24, par. 11-74.4-4

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that a municipality may pay from tax increment revenues up to 100% of the cost of construction of new housing units to be occupied by very low-income households. Provides that a municipality may incur project redevelopment costs and reimburse developers who incur redevelopment project costs, or reimburse an affiliate of a developer, including an entity that controls a developer that is a limited partnership or limited liability company, authorized by a redevelopment agreement, and the reimbursement may take the form of a loan to the developer. Effective immediately.

Actions

Date	Chamber	Action
2/17/2011	House	Filed with the Clerk by Rep. Cynthia Soto
2/17/2011	House	First Reading
2/17/2011	House	Referred to Rules Committee
2/23/2011	House	Assigned to Revenue & Finance Committee
3/7/2011	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Cynthia Soto
3/7/2011	House	House Committee Amendment No. 1 Referred to Rules Committee
3/8/2011	House	House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
3/17/2011	House	House Committee Amendment No. 1 Tabled Pursuant to Rule 40
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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