IllinoisSB1695104th General Assembly (2025–2026)Senate

TIF-INITIAL & TOTAL EAV

Sponsored By: Robert F. Martwick (Democratic)

In Committee

Summary

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, if a county clerk determines that any lot, block, tract, or parcel of real property within a redevelopment project area is not taxable or has an initial equalized assessed value of $0, then the fair market value of the lot, block, tract, or parcel shall be instead determined by a written MAI-certified appraisal or by a written certified appraisal of a State-certified or State-licensed real estate appraiser. Provides that this reappraisal shall be the initial equalized assessed value of the lot, block, tract, or parcel and shall be added to the total initial equalized assessed value of the taxable real property within the redevelopment project area. Limits the provisions to tax increment allocation financing ordinances adopted after the effective date of the amendatory Act.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert F. Martwick

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    5/22/2026Senate
  2. Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026

    5/15/2026Senate
  3. Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026

    4/24/2026Senate
  4. Rule 2-10 Committee Deadline Established As April 24, 2026

    3/13/2026Senate
  5. Re-assigned to Revenue

    1/27/2026Senate
  6. Rule 3-9(a) / Re-referred to Assignments

    6/2/2025Senate
  7. Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025

    5/23/2025Senate
  8. Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025

    5/9/2025Senate
  9. Rule 2-10 Committee Deadline Established As May 9, 2025

    4/11/2025Senate
  10. Rule 2-10 Committee Deadline Established As April 11, 2025

    3/21/2025Senate
  11. Assigned to Revenue

    2/18/2025Senate
  12. Referred to Assignments

    2/5/2025Senate
  13. First Reading

    2/5/2025Senate
  14. Filed with Secretary by Sen. Robert F. Martwick

    2/5/2025Senate

Bill Text

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