92nd General Assembly
Summary of HB2415
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House Sponsors:
YOUNGE.

Short description: 
TIF-SALE TAX-SCHOOL DIST GRANT                                             

Synopsis of Bill as introduced:
        Amends the Use Tax Act, the Service  Use  Tax  Act,  the  Service      
   Occupation  Tax  Act,  the  Retailers' Occupation Tax Act, and the Tax      
   Increment Allocation Redevelopment Act of the Illinois Municipal Code.      
   Requires the Department of Revenue to award grants to school districts      
   levying taxes in a redevelopment area in an amount equal to the tax         
   revenue lost by the school district because tax increment allocation        
   financing was adopted. Provides that the grant must be paid out of the      
   State's share of use and occupation taxes collected by the Department       
   of Revenue. Effective January 1, 2002.                                      
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status