Bill Status of HB1867 95th General Assembly
Short Description: TIF-INFLATION ADJUSTMENTS
Rep. Elizabeth Hernandez
| 1/13/2009||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Economic Development Area Tax Increment Allocation Act, the County Economic Development Project Area Property Tax Allocation Act, the County Economic Development Project Area Tax Increment Allocation Act of 1991, the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code, the Industrial Jobs Recovery Law in the Illinois Municipal Code, and the Economic Development Project Area Tax Increment Allocation Act of 1995. Provides that, beginning January 1, 2008, the initial equalized assessed value of all taxable real property within the economic development project area must be increased over the initial equalized assessed value of the previous year by the annual rate of increase, for the previous calendar year, of the Consumer Price Index for All Urban Consumers for all items, published by the United States Bureau of Labor Statistics. Effective immediately.
House Committee Amendment No. 1
Deletes everything after the enacting clause. Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that "redevelopment project costs" include reimbursements to school districts and community college districts for costs related to certain capital facilities projects. Sets forth requirements for the reimbursements. Provides that, by accepting this reimbursement, the school district waives the right to directly or indirectly set aside, modify, or contest in any manner the establishment of the redevelopment project area or projects.
|Date||Chamber|| Action|| 2/23/2007||House||Filed with the Clerk by Rep. Elizabeth Hernandez|| 2/23/2007||House||First Reading|| 2/23/2007||House||Referred to Rules Committee|| 2/27/2007||House||Assigned to Revenue Committee|| 3/23/2007||House||Rule 19(a) / Re-referred to Rules Committee|| 3/3/2008||House||Assigned to Revenue Committee|| 3/13/2008||House||Recommends Do Pass Subcommittee/ Revenue Committee; 003-000-000|| 3/13/2008||House||House Committee Amendment No. 1 Filed with Clerk by Revenue Committee|| 3/13/2008||House||House Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote|| 3/13/2008||House||Do Pass as Amended / Short Debate Revenue Committee; 012-000-000|| 3/13/2008||House||Placed on Calendar 2nd Reading - Short Debate|| 4/18/2008||House||Final Action Deadline Extended-9(b) May 9, 2008|| 5/9/2008||House||Final Action Deadline Extended-9(b) May 23, 2008|| 5/23/2008||House||Final Action Deadline Extended-9(b) May 31, 2008|| 5/29/2008||House||Second Reading - Short Debate|| 5/29/2008||House||Held on Calendar Order of Second Reading - Short Debate|| 5/31/2008||House||Rule 19(a) / Re-referred to Rules Committee|| 1/13/2009||House||Session Sine Die|