Illinois General Assembly - Bill Status for SB2298
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 Bill Status of SB2298  102nd General Assembly


Short Description:  TIF/REDEVELOPMENT PROJECT AREA

Senate Sponsors
Sen. Ann Gillespie - Melinda Bush

Last Action
DateChamber Action
  5/21/2021SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
65 ILCS 5/11-74.4-3from Ch. 24, par. 11-74.4-3
65 ILCS 5/11-74.4-3.5
65 ILCS 5/11-74.4-5from Ch. 24, par. 11-74.4-5
65 ILCS 5/11-74.4-7from Ch. 24, par. 11-74.4-7


Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Adds two factors to the determination of a "blighted area" for improved, industrial, commercial, and residential buildings or improvements: (i) if the redevelopment project area has had an annual average unemployment rate of at least 120% of the State's annual average unemployment rate; and (ii) if the redevelopment project area has a poverty rate of at least 20%, 50% or more of children in the redevelopment project area participate in the federal free lunch program, or 20% or more households in the redevelopment project area receive food stamps. Removes or modifies various factors from the definitions of "blighted area" and "conservation area" for improved and vacant areas. Provides that a new redevelopment project shall have a completion date no later than December 31st of the 10th year after the ordinance was adopted (rather than the 23rd year) and may be extended to 15 years (rather than 35 years). Provides that the joint review board and municipality shall approve surplus funds and extensions of redevelopment project area completion dates. Provides that surplus funds shall be distributed annually within 90 days (rather than 180 days) after the close of a municipality's fiscal year. Provides that a new or modified redevelopment project area that overlaps with any existing redevelopment project area shall not be approved. Effective July 1, 2021.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Ann Gillespie
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/23/2021SenateAssigned to Revenue
  4/15/2021SenateDo Pass Revenue; 009-000-000
  4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
  4/15/2021SenateAdded as Chief Co-Sponsor Sen. Melinda Bush
  4/21/2021SenateSecond Reading
  4/21/2021SenatePlaced on Calendar Order of 3rd Reading April 22, 2021
  4/23/2021SenateRule 2-10 Third Reading Deadline Established As April 30, 2021
  4/30/2021SenateRule 2-10 Third Reading Deadline Established As May 7, 2021
  5/7/2021SenateRule 2-10 Committee/3rd Reading Deadline Established As May 21, 2021
  5/21/2021SenateRule 3-9(a) / Re-referred to Assignments

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