Illinois General Assembly - Bill Status for HB2270
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 Bill Status of HB2270  102nd General Assembly

Short Description:  TIF-INITIAL & TOTAL EAV

House Sponsors
Rep. Robert Martwick

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-9from Ch. 24, par. 11-74.4-9

Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that if a county clerk determines that any lot, block, tract, or parcel of real property within a redevelopment project area is not taxable or has an initial equalized assessed value of $0, then the fair market value of the lot, block, tract, or parcel shall be instead determined by a written MAI-certified appraisal or by a written certified appraisal of a State-certified or State-licensed real estate appraiser. Provides that this reappraisal shall be the initial equalized assessed value of the lot, block, tract, or parcel and shall be added to the total initial equalized assessed value of the taxable real property within the redevelopment project area. Limits the provisions to tax increment allocation financing ordinances adopted after the effective date of the amendatory Act.

DateChamber Action
  2/7/2019HouseFiled with the Clerk by Rep. Robert Martwick
  2/13/2019HouseFirst Reading
  2/13/2019HouseReferred to Rules Committee
  2/19/2019HouseAssigned to Revenue & Finance Committee
  2/28/2019HouseTo Property Tax Subcommittee
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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