Senate Sponsors: WEAVER,S-MYERS,J. House Sponsors: JOHNSON,TIM Short description: PROP TX-SPECIFIC EXTNSION ACCT Synopsis of Bill as introduced: Amends the Property Tax Code and the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the tax proceeds of a taxing district designated for direct deposit into an escrow account are not subject to the deduction imposed for tax increment financing. Effective immediately. SENATE AMENDMENT NO. 1. Deletes everything. Amends the Property Tax Code and the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the tax proceeds of a levy by a township to retire bonds issued to satisfy court-ordered damages are not subject to the deduction imposed for tax increment financing. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0190 Last action date: 99-07-20 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status