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SB1694Introduced in the Senate

TIF-DEVELOPER LOT INITIAL EAV

IntroducedSenate Assignments

Introduced by Robert Martwick, District 10

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that if (1) 3 or more improved lots, blocks, tracts, or parcels of real property within a single redevelopment project area are purchased by a developer or a developer's parent company or wholly-owned subsidiary, or any combination thereof, within the 3 years prior to the date that the ordinance providing for the tax increment allocation was adopted by the municipality, and (2) an improvement on any of the lots, blocks, tracts, or parcels of real property is demolished or otherwise rendered uninhabitable, then the initial equalized assessed value for the lot, block, tract or parcel of real property shall be the equalized assessed value of the lot, block, tract, or parcel of real property on the date it was purchased by the developer, the developer's parent company, or the developer's wholly-owned subsidiary or purchased by any combination thereof. Limits the provisions to ordinances adopted after the effective date of the amendatory Act.

Where it stands

Rule 3-9(a) / Re-referred to Assignments

May 22, 2026

How did lawmakers vote?

No recorded vote is available for this bill yet.

Bill history

  1. Filed with Secretary by Sen. Robert F. Martwick

  2. First Reading

  3. Referred to Assignments

  4. Assigned to Revenue

  5. Rule 2-10 Committee Deadline Established As April 11, 2025

  6. Rule 2-10 Committee Deadline Established As May 9, 2025

  7. Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025

  8. Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025

  9. Rule 3-9(a) / Re-referred to Assignments

  10. Re-assigned to Revenue

  11. Rule 2-10 Committee Deadline Established As April 24, 2026

  12. Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026

  13. Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026

  14. Rule 3-9(a) / Re-referred to Assignments

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