Illinois 101st Regular Session Status: Died 1 D cosponsors

HB 4427 — MUNICIPAL CODE-TIF REPORTING

Last action — Rule 19(b) / Re-referred to Rules Committee

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 101st Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by a financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.

Bill Text

Action History

  1. Rule 19(b) / Re-referred to Rules Committee

  2. Assigned to Revenue & Finance Committee

  3. Added Chief Co-Sponsor Rep. Daniel Didech

  4. Added Chief Co-Sponsor Rep. Sam Yingling

  5. Referred to Rules Committee

  6. First Reading

  7. Added Chief Co-Sponsor Rep. Mark Batinick

  8. Filed with the Clerk by Rep. Jonathan Carroll

Sponsors

  • Jonathan Carroll · Cosponsor
  • Mark Batinick · Cosponsor
  • Sam Yingling · Cosponsor
  • Daniel Didech · Cosponsor

Sponsorship breakdown

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0 sponsors · 4 co-sponsors · 179 not signed on

Sponsors (0)

None.

Co-sponsors (4)

  • Jonathan Carroll
  • Mark Batinick
  • Sam Yingling
  • Daniel Didech Democrat

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 4427 do?
Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by a financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.
Who sponsors HB 4427?
HB 4427 is sponsored by Jonathan Carroll, Mark Batinick, Sam Yingling, and Daniel Didech (Democrat).
What is the current status of HB 4427?
This bill died with 101st Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 4427?
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