MUNI CD-TIF-LATE REPORTS
Sponsored By: Kevin Schmidt (Republican)
In Committee
Summary
Amends the Illinois Municipal Code. In provisions concerning the reports a municipality is required to provide to the Comptroller under the Tax Increment Allocation Redevelopment Act, provides that, beginning on the effective date of the amendatory Act, if a municipality fails to file the Tax Increment Financing Report within the time required, then the Comptroller may order the municipality to cease all distributions from its Special Tax Allocation Fund for redevelopment project costs other than debt service on bonds until the municipality files the Tax Increment Financing Report. Requires the municipality to comply with the Comptroller's orders.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Kevin Schmidt
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Rules Committee
10/28/2025HouseFirst Reading
10/28/2025HouseFiled with the Clerk by Rep. Kevin Schmidt
10/17/2025House
Bill Text
Introduced
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