Illinois General Assembly - Bill Status for HB5017
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 Bill Status of HB5017  101st General Assembly


Short Description:  MUNI-DORMANT TIF DISTRICTS

House Sponsors
Rep. Anne Stava-Murray

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-5from Ch. 24, par. 11-74.4-5
65 ILCS 5/11-74.4-13 new


Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. In a municipality's annual reporting for each redevelopment project area, provides that the municipality shall report the percentage of the amounts of expenditures from the special tax allocation fund on redevelopment project costs compared to the amounts deposited into the special tax allocation fund during the fiscal year. Provides that a redevelopment project area is dormant when the percentage of the amounts of expenditures from a special tax allocation fund on redevelopment project costs is 10% or less than the amounts deposited into the special tax allocation fund for 7 consecutive fiscal years of the redevelopment project area. Provides that a municipality shall by ordinance terminate a dormant redevelopment project area no later than 45 days after filing its annual report indicating that a redevelopment project area is dormant. Provides that if a municipality fails to terminate a dormant redevelopment project area as required, the municipality shall be subject to a fine of $1,000 per day until it terminates the dormant redevelopment project area. Effective immediately.

Actions 
DateChamber Action
  2/13/2020HouseFiled with the Clerk by Rep. Anne Stava-Murray
  2/18/2020HouseFirst Reading
  2/18/2020HouseReferred to Rules Committee
  3/12/2020HouseAssigned to Revenue & Finance Committee
  6/23/2020HouseRule 19(b) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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