Bill Status of HB3693

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HB3693 - 104th General Assembly

TIF-COMPLETION
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
House Sponsors
Rep. Maura Hirschauer
Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-3.5
Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that, if the ordinance approving the redevelopment project area was adopted on or after July 1, 2025, then the estimated dates of completion of the redevelopment project and the retirement of obligations issued to finance redevelopment project costs may not be later than December 31 of the year in which the payment to the municipal treasurer is to be made with respect to ad valorem taxes levied in the 15th (currently, 23rd) calendar year after the year in which the ordinance approving the redevelopment project area was adopted. Effective immediately.
Actions
Date Chamber Action
2/07/2025 House Filed with the Clerk by Rep. Maura Hirschauer
2/18/2025 House First Reading
2/18/2025 House Referred to Rules Committee
3/11/2025 House Assigned to Revenue & Finance Committee
3/21/2025 House Rule 19(a) / Re-referred to Rules Committee