Illinois 103rd Regular Session Status: In Committee 2 D cosponsors

HB 5545 — REVENUE-MEGAPROJECTS

Last action — House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 103rd 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Property Tax Code. Provides that certain property may be certified by the Department of Commerce and Economic Opportunity as containing a megaproject. Provides that a "megaproject" is a project that meets certain investment and job creation specifications. Provides that the megaproject property is eligible for an assessment freeze. Provides that megaproject property may be granted an abatement. Provides that a company that operates a megaproject shall enter into an agreement with the municipality in which the project is located and other local taxing districts to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or development of a megaproject is exempt from the taxes imposed under those Acts. Effective June 1, 2024.

Bill Text

Amendments

1 amendment

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Action History

  1. House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

  2. Rule 19(a) / Re-referred to Rules Committee

  3. Committee/3rd Reading Deadline Extended-Rule May 31, 2024

  4. Committee/3rd Reading Deadline Extended-Rule May 27, 2024

  5. House Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee

  6. House Committee Amendment No. 1 Referred to Rules Committee

  7. House Committee Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman

  8. Committee/3rd Reading Deadline Extended-Rule May 24, 2024

  9. Added Chief Co-Sponsor Rep. Mark L. Walker

  10. To Revenue - Property Tax Subcommittee

  11. Assigned to Revenue & Finance Committee

  12. Referred to Rules Committee

  13. First Reading

  14. Filed with the Clerk by Rep. Jay Hoffman

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 181 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (181)

181 members have not signed on to this bill.

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"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 housing labor
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Frequently asked questions

What does HB 5545 do?
Amends the Property Tax Code. Provides that certain property may be certified by the Department of Commerce and Economic Opportunity as containing a megaproject. Provides that a "megaproject" is a project that meets certain investment and job creation specifications. Provides that the megaproject property is eligible for an assessment freeze. Provides that megaproject property may be granted an abatement. Provides that a company that operates a megaproject shall enter into an agreement with the municipality in which the project is located and other local taxing districts to make certain special payments. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that qualified tangible personal property used in the construction or development of a megaproject is exempt from the taxes imposed under those Acts. Effective June 1, 2024.
Who sponsors HB 5545?
HB 5545 is sponsored by Jay Hoffman (Democrat) and Mark L. Walker (Democrat).
What is the current status of HB 5545?
This bill died with 103rd 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 5545?
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