HB2789 - 104th General Assembly (2025-2026)

PROP TX-MEGA PROJECT
Last Action
03/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 200/Art. 10 Div. 22 heading new  
35 ILCS 200/10-900 new  
35 ILCS 200/10-905 new  
35 ILCS 200/10-910 new  
35 ILCS 200/10-915 new  
35 ILCS 200/10-920 new  
35 ILCS 200/10-925 new  
35 ILCS 200/10-930 new  
35 ILCS 200/10-935 new  
35 ILCS 200/10-940 new  
35 ILCS 200/10-945 new  
35 ILCS 200/10-950 new  
35 ILCS 200/10-955 new  
35 ILCS 200/10-960 new  
35 ILCS 200/10-965 new  
35 ILCS 200/10-970 new  
35 ILCS 200/10-980 new  
35 ILCS 200/10-990 new  
Synopsis As Introduced
Amends the Property Tax Code. Provides that property certified by the Department of Revenue as mega project property is eligible for an assessment freeze. Provides that, if property is certified as mega project property, then, during the incentive period, the value added to the property by the project shall not be considered for assessment purposes, and the total valuation of the property during the incentive period shall be limited to the base year valuation. Provides that "mega project" means a project that satisfies certain minimum investment, investment period, and other requirements. Contains provisions concerning incentive agreements between a company that plans to undertake a mega project and a local municipality obligating the company to make special payments in addition to property taxes. Effective June 1, 2025.
Actions
DateChamberAction
02/05/2025HouseFiled with the Clerk by Rep. Mary Beth Canty
02/06/2025HouseFirst Reading
02/06/2025HouseReferred to Rules Committee
03/04/2025HouseAssigned to Revenue & Finance Committee
03/06/2025HouseTo Tax Credit and Incentives Subcommittee
03/21/2025HouseRule 19(a) / Re-referred to Rules Committee
04/22/2025HouseAdded Co-Sponsor Rep. Nicolle Grasse
08/21/2025HouseAdded Chief Co-Sponsor Rep. Anthony DeLuca