Date	Chamber	Action
1/13/2015	Senate	Session Sine Die

Statutes Amended In Order of Appearance

65 ILCS 5/11-74.4-4

from Ch. 24, par. 11-74.4-4

65 ILCS 5/11-74.4-9

from Ch. 24, par. 11-74.4-9

Synopsis As Introduced
Amends the Illinois Municipal Code. Provides that the year of the most recent assessment made prior to the effective date of the ordinance shall be the year that the county clerk shall use for determining the total initial equalized assessed value of property within the redevelopment project area. Provides that the most recently ascertained equalized assessed value of real property that is exempt from taxation under the Property Tax Code at the time that the municipality adopts an ordinance providing for tax increment allocation financing shall be zero. Provides requirements for the assessing authority and county clerk regarding the equalized assessed value as of the date that the property ceased to be exempt. Provides the formula by which the county clerk must certify the "total initial equalized assessed value as adjusted" of the taxable real property within a redevelopment project area. Further provides that this amendatory Act is declarative of existing law.

Actions 

Date	Chamber	Action
2/15/2013	Senate	Filed with Secretary by Sen. Andy Manar
2/15/2013	Senate	First Reading
2/15/2013	Senate	Referred to Assignments
3/5/2013	Senate	Assigned to Local Government
3/13/2013	Senate	Postponed - Local Government
3/20/2013	Senate	Postponed - Local Government
3/22/2013	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2015	Senate	Session Sine Die

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