IllinoisHB3693104th General Assembly (2025–2026)House

TIF-COMPLETION

Sponsored By: Maura Hirschauer (Democratic)

In Committee

Summary

Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that, if the ordinance approving the redevelopment project area was adopted on or after July 1, 2025, then the estimated dates of completion of the redevelopment project and the retirement of obligations issued to finance redevelopment project costs may not be later than December 31 of the year in which the payment to the municipal treasurer is to be made with respect to ad valorem taxes levied in the 15th (currently, 23rd) calendar year after the year in which the ordinance approving the redevelopment project area was adopted. Effective immediately.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Maura Hirschauer

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/21/2025House
  2. Assigned to Revenue & Finance Committee

    3/11/2025House
  3. Referred to Rules Committee

    2/18/2025House
  4. First Reading

    2/18/2025House
  5. Filed with the Clerk by Rep. Maura Hirschauer

    2/7/2025House

Bill Text

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