SB1432 - 104th General Assembly (2025-2026)

MUNI CD-TIF SURPLUS FUNDS
Last Action
2/04/2026 - Senate: Postponed - Local Government
Hearings
Local Government Hearing Feb 4 2026 3:00PM Capitol 409 Springfield, IL
Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-7  from Ch. 24, par. 11-74.4-7
Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that all surplus funds in the special tax allocation fund shall be distributed as soon as possible after they are calculated (rather than distributed annually within 180 days after the close of the municipality's fiscal year).
Actions
DateChamberAction
1/31/2025SenateFiled with Secretary by Sen. Laura M. Murphy
1/31/2025SenateFirst Reading
1/31/2025SenateReferred to Assignments
2/11/2025SenateAssigned to Local Government
2/26/2025SenateAdded as Chief Co-Sponsor Sen. Mark L. Walker
2/27/2025SenatePostponed - Local Government
3/06/2025SenatePostponed - Local Government
3/19/2025SenatePostponed - Local Government
3/21/2025SenateRule 3-9(a) / Re-referred to Assignments
1/27/2026SenateRe-assigned to Local Government
2/04/2026SenatePostponed - Local Government