Illinois · House Bill 2484 · 103rd General Assembly

NEW MARKET DEVELOPMENT PROGRAM

HB 2484 Sponsored by Jay Hoffman Died in committee

  1. Introduced Feb 15, 2023
  2. In committee Feb 15, 2023
  3. Died  
  4. Passed the Senate  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the New Markets Development Program Act. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of qualified equity investments at no more than $20,000,000 of tax credits for the primary allocation and no more than $12,000,000 of tax credits for the targeted allocation. Provides that, on or after January 1, 2024, but not more than 120 days after the Community…

Read the full title (130 words)

Amends the New Markets Development Program Act. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of qualified equity investments at no more than $20,000,000 of tax credits for the primary allocation and no more than $12,000,000 of tax credits for the targeted allocation. Provides that, on or after January 1, 2024, but not more than 120 days after the Community Development Financial Institutions Fund of the United States Department of the Treasury announces allocation awards under a Notice of Funding Availability that was published in the Federal Register on November 22, 2022, $250,000,000 of qualified equity investments for the primary allocation and $150,000,000 of qualified equity investments for the targeted allocation shall be allocated by the Department. Makes other changes. Defines terms. Effective immediately.

Every action

11 steps, oldest first, as the legislature records them.

  1. HouseFiled with the Clerk by Rep. Jay Hoffman
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. HouseAdded Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
  5. HouseAdded Chief Co-Sponsor Rep. Norine K. Hammond
  6. HouseAdded Co-Sponsor Rep. Michael T. Marron
  7. HouseChief Co-Sponsor Changed to Rep. Norine K. Hammond
  8. CommitteeAssigned to Revenue & Finance Committee · House Revenue & Finance
  9. CommitteeTo Revenue - Tax Credit and Incentives Subcommittee · House Tax Credit and Incentives Subcommi
  10. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
  11. HouseSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 3 cosponsors: 2 Republicans, 1 Democrat.

All 3 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.