Bill Status of SB 2703   103rd General Assembly

Short Description:  PROP TX-HISTORIC RESIDENCE

Senate Sponsors
Sen. Napoleon Harris, III and Laura M. Murphy

House Sponsors
(Rep. Michael J. Kelly)


Last Action  View All Actions

DateChamber Action
  12/16/2024SenateSent to the Governor

Statutes Amended In Order of Appearance
35 ILCS 200/10-40
35 ILCS 200/10-50

Synopsis As Introduced
Amends the Property Tax Code. In provisions concerning the Historic Residence Assessment Freeze Law, provides that the fair cash value of the property shall be based on the final determination by the assessment officer, board of review, Property Tax Appeal Board, or court. Provides that, after the expiration of the 8-year valuation period, if the current fair cash value is less than the adjusted base year valuation, then the assessment shall be based on the current fair cash value. Provides that these changes are declarative of existing law.

House Floor Amendment No. 2
Deletes reference to:
35 ILCS 200/10-40
35 ILCS 200/10-50
Adds reference to:
65 ILCS 5/11-74.4-3.5

Replaces everything after the enacting clause. Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated dates of completion of redevelopment projects and the retirement of obligations issued to finance redevelopment project costs for various ordinances adopted by the Village of Melrose Park, City of Knoxville, the City of Chicago, and the City of St. Charles. Creates tax increment allocation financing extensions to the 47th year (currently, the 35th year) for various ordinances adopted by the Village of Melrose Park, Village of Lansing, and Village of South Holland if those municipalities adopt a specified ordinance and provide notice to the taxing bodies that would otherwise constitute the joint review board of each redevelopment project area. Effective December 31, 2024.

Actions 
DateChamber Action
  1/10/2024SenateFiled with Secretary by Sen. Cristina Castro
  1/10/2024SenateFirst Reading
  1/10/2024SenateReferred to Assignments
  1/31/2024SenateAssigned to Revenue
  2/21/2024SenateDo Pass Revenue; 008-000-000
  2/21/2024SenatePlaced on Calendar Order of 2nd Reading February 22, 2024
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/10/2024SenatePlaced on Calendar Order of 3rd Reading **
  4/10/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  4/12/2024SenateThird Reading - Passed; 059-000-000
  4/12/2024HouseArrived in House
  4/15/2024HouseChief House Sponsor Rep. Kelly M. Burke
  4/15/2024HouseFirst Reading
  4/15/2024HouseReferred to Rules Committee
  4/24/2024HouseAssigned to Revenue & Finance Committee
  5/3/2024HouseCommittee/Final Action Deadline Extended-9(b) May 24, 2024
  5/14/2024HouseDo Pass / Short Debate Revenue & Finance Committee; 015-000-000
  5/15/2024HousePlaced on Calendar 2nd Reading - Short Debate
  5/16/2024HouseSecond Reading - Short Debate
  5/16/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  5/20/2024HouseAlternate Chief Sponsor Changed to Rep. Emanuel "Chris" Welch
  5/20/2024HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Emanuel "Chris" Welch
  5/20/2024HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/20/2024HouseHouse Floor Amendment No. 1 Rules Refers to Executive Committee
  5/22/2024HouseHouse Floor Amendment No. 1 Recommends Be Adopted Executive Committee; 008-004-000
  5/24/2024HouseThird Reading/Final Action Deadline Extended-9(b) May 27, 2024
  5/26/2024HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2024
  5/31/2024HouseRule 19(a) / Re-referred to Rules Committee
  5/31/2024HouseHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  11/19/2024HouseApproved for Consideration Rules Committee; 005-000-000
  11/19/2024HousePlaced on Calendar 2nd Reading - Short Debate
  11/20/2024HouseAlternate Chief Sponsor Changed to Rep. Michael J. Kelly
  11/20/2024HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Michael J. Kelly
  11/20/2024HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  11/20/2024HouseHouse Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee
  11/20/2024HouseHouse Floor Amendment No. 2 Recommends Be Adopted Revenue & Finance Committee; 017-000-000
  11/20/2024HouseHouse Floor Amendment No. 2 Adopted
  11/20/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/20/2024HouseThird Reading - Short Debate - Passed 090-020-000
  11/20/2024HouseHouse Floor Amendment No. 1 Tabled
  11/20/2024SenateChief Sponsor Changed to Sen. Napoleon Harris, III
  11/21/2024SenateSecretary's Desk - Concurrence House Amendment(s) 2
  11/21/2024SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2 - November 21, 2024
  11/21/2024SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Napoleon Harris, III
  11/21/2024SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  11/21/2024SenateHouse Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
  11/21/2024SenateHouse Floor Amendment No. 2 3/5 Vote Required
  11/21/2024SenateHouse Floor Amendment No. 2 Senate Concurs 048-003-001
  11/21/2024SenateSenate Concurs
  11/21/2024SenatePassed Both Houses
  12/16/2024SenateSent to the Governor

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