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HB2789 - 104th General Assembly
PROP TX-MEGA PROJECT
Last Action
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
| Date | Chamber | Action |
|---|---|---|
| 2/05/2025 | House | Filed with the Clerk by Rep. Mary Beth Canty |
| 2/06/2025 | House | First Reading |
| 2/06/2025 | House | Referred to Rules Committee |
| 3/04/2025 | House | Assigned to Revenue & Finance Committee |
| 3/06/2025 | House | To Tax Credit and Incentives Subcommittee |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |
| 4/22/2025 | House | Added Co-Sponsor Rep. Nicolle Grasse |
| 8/21/2025 | House | Added Chief Co-Sponsor Rep. Anthony DeLuca |