IllinoisHB4712104th General Assembly (2025–2026)House

MUNI CD-TIF SURPLUS FUNDS

Sponsored By: Robert "Bob" Rita

In Committee

Summary

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that not more than 5% of all surplus funds in the special tax allocation fund may be distributed. Provides that surplus funds in the special tax allocation fund may be distributed not more than once every 10 years (rather than annually). Provides that, if the termination date for a redevelopment project area is extended beyond the 23rd calendar year after the year in which the ordinance approving the redevelopment project area was adopted, then following the 23rd calendar year, no surplus funds may be distributed until the redevelopment project area is terminated. Effective immediately.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert "Bob" Rita

    Affiliation unavailable

Cosponsors

  • Joe C. Sosnowski

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Joe C. Sosnowski

    5/21/2026House
  2. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  3. Assigned to Revenue & Finance Committee

    3/12/2026House
  4. Referred to Rules Committee

    2/6/2026House
  5. First Reading

    2/6/2026House
  6. Filed with the Clerk by Rep. Robert "Bob" Rita

    1/30/2026House

Bill Text

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