Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 200/15-97 new

Synopsis As Introduced
Creates the Downtown Real Estate Improvement Assessment Phase-In Act. Authorizes any property owner within a downtown development district to apply for an assessment phase-in. Amends the Property Tax Code. Provides that the local assessment officer may phase-in the increase in assessed value of property in an area designated by a municipality as a downtown development district. Provides that a property is not eligible for the phase-in program if: (i) the property is receiving tax increment finance revenue through a redevelopment agreement or through some other type of agreement or ordinance where the property's value is directly dependent upon the increased value of the property or (ii) the property ceases to be part of a downtown development district. Effective immediately.

Actions 

Date	Chamber	Action
2/5/2004	House	Filed with the Clerk by Rep. Jim Sacia
2/5/2004	House	First Reading
2/5/2004	House	Referred to Rules Committee
2/13/2004	House	Added Co-Sponsor Rep. Suzanne Bassi
2/24/2004	House	Added Chief Co-Sponsor Rep. Lisa M. Dugan
2/24/2004	House	Added Chief Co-Sponsor Rep. William J. Grunloh
3/30/2004	House	Added Chief Co-Sponsor Rep. Naomi D. Jakobsson
5/4/2004	House	Added Co-Sponsor Rep. Brandon W. Phelps
1/11/2005	House	Session Sine Die

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