Date	Chamber	Action
1/10/2023	House	Session Sine Die

Statutes Amended In Order of Appearance

65 ILCS 5/11-74.4-8

from Ch. 24, par. 11-74.4-8

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, after the effective date of the amendatory Act, the municipal treasurer shall pay: (i) 25% of the money attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in a redevelopment project area directly to school districts within the redevelopment project area in proportion to the percent of that amount that each school district would have received if there was no redevelopment project area; and (ii) the remaining 75% into the special tax allocation fund for the purpose of paying redevelopment project costs and obligations incurred in the payment thereof. Provides that, for redevelopment project areas established after the effective date of the amendatory Act, a school district within a proposed redevelopment project area may negotiate an additional percentage of money for the school district.

Actions 

Date	Chamber	Action
2/16/2021	House	Filed with the Clerk by Rep. Stephanie A. Kifowit
2/17/2021	House	First Reading
2/17/2021	House	Referred to Rules Committee
3/9/2021	House	Assigned to Revenue & Finance Committee
3/18/2021	House	To Property Tax Subcommittee
3/27/2021	House	Rule 19(a) / Re-referred to Rules Committee
1/19/2022	House	Assigned to Revenue & Finance Committee
1/27/2022	House	To Property Tax Subcommittee
2/18/2022	House	Rule 19(a) / Re-referred to Rules Committee
1/10/2023	House	Session Sine Die

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