In CommitteeFiled Jan 30, 2026
Sponsor: Robert "Bob" Rita
Latest Action
Rule 19(a) / Re-referred to Rules Committee
Mar 27, 2026
Summary
The bill changes the Illinois Municipal Code so that no more than 5% of any surplus in a special tax allocation fund can be distributed, and such distributions can occur only once per decade. It also bars any surplus distribution after the 23rd year of a redevelopment project unless the project is terminated. The changes affect municipalities that use tax‑increment financing for redevelopment projects.
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