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 Bill Status of HB0342  100th General Assembly


Short Description:  MUNI CD-TIF BONDS

House Sponsors
Rep. David McSweeney

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-7from Ch. 24, par. 11-74.4-7


Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that all obligations issued by a non-home rule municipality in connection with the Tax Increment Allocation Redevelopment Act (instead of TIF obligations secured by the full faith and credit of the municipality) are subject to a backdoor referendum. Provides that a petition calling for a referendum on the issuance of those bonds shall be filed within 45 (instead of 30) days after the publication of the ordinance. Makes changes concerning the signature requirement for those petitions. Effective immediately.

Actions 
DateChamber Action
  1/11/2017HouseFiled with the Clerk by Rep. David McSweeney
  1/11/2017HouseFirst Reading
  1/11/2017HouseReferred to Rules Committee
  1/25/2017HouseAssigned to Revenue & Finance Committee
  2/24/2017HouseTo Property Tax Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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