Illinois General Assembly - Bill Status for HB3693

Revenue & Finance Committee Hearing Mar 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL
Revenue & Finance Committee Hearing Mar 20 2025 2:00PM Stratton Building Room D-1 Springfield, IL

Last Action

Date	Chamber	Action
3/11/2025	House	Assigned to Revenue & Finance Committee

Statutes Amended In Order of Appearance

65 ILCS 5/11-74.4-3.5

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that, if the ordinance approving the redevelopment project area was adopted on or after July 1, 2025, then the estimated dates of completion of the redevelopment project and the retirement of obligations issued to finance redevelopment project costs may not be later than December 31 of the year in which the payment to the municipal treasurer is to be made with respect to ad valorem taxes levied in the 15th (currently, 23rd) calendar year after the year in which the ordinance approving the redevelopment project area was adopted. Effective immediately.

Actions

Date	Chamber	Action
2/7/2025	House	Filed with the Clerk by Rep. Maura Hirschauer
2/18/2025	House	First Reading
2/18/2025	House	Referred to Rules Committee
3/11/2025	House	Assigned to Revenue & Finance Committee

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