Illinois 98th Regular Session Status: In Committee 1 R cosponsors

HB 2673 — INDUSTRIAL JOBS TIF-EXTEND

Last action — Session Sine Die

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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 98th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 Industrial Jobs Recovery Law in the Illinois Municipal Code. Provides that the Department shall submit to the General Assembly a report regarding established redevelopment project areas on or before January 1, 2015. Provides that the authority granted to municipalities to establish redevelopment project areas and to adopt tax increment allocation financing shall expire on January 1, 2016. Effective immediately.

Bill Text

How this bill changes current law

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This bill amends the expiration date for municipal authority to establish redevelopment project areas and adopt tax increment allocation financing.

  • 65 ILCS 5/11-74.6-50

    On or after January 1, 2012 the authority granted hereunder to municipalities to establish redevelopment project areas and to adopt tax increment allocation financing in connection therewith shall expire unless the General Assembly shall have authorized municipalities to continue to exercise said powers. → On or before January 1, 2015, the Department shall submit to the General Assembly a report detailing the number of redevelopment project areas that have been established, the number and type of jobs created or retained therein, the aggregate amount of tax increment incentives provided, the aggregate amount of private investment produced therein, the amount of tax increment revenue produced and available for expenditure within the tax increment financing districts, and such additional information as the Department may determine to be relevant. On January 1, 2016, the authority granted hereunder to municipalities to establish redevelopment project areas and to adopt tax increment allocation financing in connection therewith shall expire unless the General Assembly shall have authorized municipalities to continue to exercise said powers.

    This change extends the deadline for municipalities to establish redevelopment project areas and adopt tax increment financing until January 1, 2016.

Action History

  1. Session Sine Die

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

  3. Assigned to Revenue & Finance Committee

  4. Referred to Rules Committee

  5. First Reading

  6. Filed with the Clerk by Rep. Joe Sosnowski

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 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 2673 do?
Amends the Industrial Jobs Recovery Law in the Illinois Municipal Code. Provides that the Department shall submit to the General Assembly a report regarding established redevelopment project areas on or before January 1, 2015. Provides that the authority granted to municipalities to establish redevelopment project areas and to adopt tax increment allocation financing shall expire on January 1, 2016. Effective immediately.
Who sponsors HB 2673?
HB 2673 is sponsored by Joe C. Sosnowski (Republican).
What is the current status of HB 2673?
This bill died with 98th 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 2673?
Track HB 2673 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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