Date	Chamber	Action
1/13/2021	House	Session Sine Die

Statutes Amended In Order of Appearance

65 ILCS 5/8-8-3.5

65 ILCS 5/11-74.4-5

from Ch. 24, par. 11-74.4-5

65 ILCS 5/11-74.6-22

Synopsis As Introduced
Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by a financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.

Actions 

Date	Chamber	Action
1/30/2020	House	Filed with the Clerk by Rep. Jonathan Carroll
1/30/2020	House	Added Chief Co-Sponsor Rep. Mark Batinick
2/3/2020	House	First Reading
2/3/2020	House	Referred to Rules Committee
2/7/2020	House	Added Chief Co-Sponsor Rep. Sam Yingling
2/10/2020	House	Added Chief Co-Sponsor Rep. Daniel Didech
3/12/2020	House	Assigned to Revenue & Finance Committee
6/23/2020	House	Rule 19(b) / Re-referred to Rules Committee
1/13/2021	House	Session Sine Die

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