Bill Status of HB 1976   97th General Assembly


Short Description:  MUNI-TIF-REDEVELOPMENT COSTS

House Sponsors
Rep. Cynthia Soto

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-3from Ch. 24, par. 11-74.4-3
65 ILCS 5/11-74.4-4from Ch. 24, par. 11-74.4-4

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that a municipality may pay from tax increment revenues up to 100% of the cost of construction of new housing units to be occupied by very low-income households. Provides that a municipality may incur project redevelopment costs and reimburse developers who incur redevelopment project costs, or reimburse an affiliate of a developer, including an entity that controls a developer that is a limited partnership or limited liability company, authorized by a redevelopment agreement, and the reimbursement may take the form of a loan to the developer. Effective immediately.

Actions 
DateChamber Action
  2/17/2011HouseFiled with the Clerk by Rep. Cynthia Soto
  2/17/2011HouseFirst Reading
  2/17/2011HouseReferred to Rules Committee
  2/23/2011HouseAssigned to Revenue & Finance Committee
  3/7/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Cynthia Soto
  3/7/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/8/2011HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/17/2011HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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