Illinois 104th General Assembly Status: Introduced 1 D cosponsors

SB2344      — STATEWIDE INNOVATION DEVELOP

Last action — Rule 3-9(a) / Re-referred to Assignments

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

This bill has been introduced in the Senate. Introduced February 07, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Creates the Statewide Innovation Development and Economy Act. Provides that the purpose of the Act is to promote, stimulate, and develop the general and economic welfare of the State of Illinois and its communities and to assist in the development and redevelopment of major tourism, entertainment, retail, and related projects within eligible areas of the State, thereby creating new jobs, stimulating significant capital investment, and promoting the general welfare of the citizens of this State, by authorizing municipalities and counties to issue sales tax and revenue (STAR) bonds for the financing of STAR bond projects and to otherwise exercise the powers and authorities granted to municipalities to provide incentives to create new job opportunities and to promote major tourism, entertainment, retail, and related projects within the State. Provides that the Office of the Governor, in consultation with the Department of Commerce and Economic Opportunity, shall have final approval of all STAR bond districts and STAR bond projects established under this Act, which may be established throughout the 10 Economic Development Regions in the State as established by the Department of Commerce and Economic Opportunity. Provides that regardless of the number of STAR bond districts established within any Economic Development Region, only one STAR bond project may be approved in each of the 10 Regions, excluding projects located in STAR bond districts established under the Innovation Development and Economy Act. Provides that each STAR bond district in which a STAR bonds project has been approved may only receive 50% of the total development costs up to $75,000,000 in State sales tax increment. Provides that a STAR bond district under the Act may not be located either entirely or partially inside of a municipality with a population in excess of 2,000,000. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read SB2344 on the official Illinois source →

Action History

  1. Rule 3-9(a) / Re-referred to Assignments

  2. Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025

  3. Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025

  4. Rule 2-10 Committee Deadline Established As May 9, 2025

  5. Rule 2-10 Committee Deadline Established As April 11, 2025

  6. Assigned to Revenue

  7. Referred to Assignments

  8. First Reading

  9. Filed with Secretary by Sen. Steve Stadelman

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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 housing labor transportation
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 SB2344      do?
Creates the Statewide Innovation Development and Economy Act. Provides that the purpose of the Act is to promote, stimulate, and develop the general and economic welfare of the State of Illinois and its communities and to assist in the development and redevelopment of major tourism, entertainment, retail, and related projects within eligible areas of the State, thereby creating new jobs, stimulating significant capital investment, and promoting the general welfare of the citizens of this State, by authorizing municipalities and counties to issue sales tax and revenue (STAR) bonds for the financing of STAR bond projects and to otherwise exercise the powers and authorities granted to municipalities to provide incentives to create new job opportunities and to promote major tourism, entertainment, retail, and related projects within the State. Provides that the Office of the Governor, in consultation with the Department of Commerce and Economic Opportunity, shall have final approval of all STAR bond districts and STAR bond projects established under this Act, which may be established throughout the 10 Economic Development Regions in the State as established by the Department of Commerce and Economic Opportunity. Provides that regardless of the number of STAR bond districts established within any Economic Development Region, only one STAR bond project may be approved in each of the 10 Regions, excluding projects located in STAR bond districts established under the Innovation Development and Economy Act. Provides that each STAR bond district in which a STAR bonds project has been approved may only receive 50% of the total development costs up to $75,000,000 in State sales tax increment. Provides that a STAR bond district under the Act may not be located either entirely or partially inside of a municipality with a population in excess of 2,000,000. Effective immediately.
Who sponsors SB2344     ?
SB2344      is sponsored by Steve Stadelman (Democrat).
What is the current status of SB2344     ?
This bill has been introduced in the Senate. Introduced February 07, 2025. It must pass committee before a floor vote.
Where can I track SB2344     ?
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Last checked for changes 3 months ago · updated continuously

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