Illinois · House Bill 4248 · 103rd General Assembly

EMINENT DOMAIN-VALUE-BUSINESS

HB 4248 Sponsored by Jed Davis Died in committee

  1. Introduced Nov 29, 2023
  2. In committee Jan 16, 2024
  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 Eminent Domain Act. Provides that when calculating the fair cash market value of a business property, the value shall include any positive revenue the property would generate for the business during a 10-year period, as evidenced by the business's tax returns. Requires the prospective beneficiary to submit an affidavit describing (i) the current cash value of the property, (ii) the current cash flow…

Read the full title (165 words)

Amends the Eminent Domain Act. Provides that when calculating the fair cash market value of a business property, the value shall include any positive revenue the property would generate for the business during a 10-year period, as evidenced by the business's tax returns. Requires the prospective beneficiary to submit an affidavit describing (i) the current cash value of the property, (ii) the current cash flow generated by the property, if any, and (iii) the expected cash flow to be generated by the property at a point 5 years forward. Provides that if a prospective beneficiary is admitted to the program, the beneficiary or the beneficiary's sucessor-in-interest shall refile an affidavit describing the current cash value and cash flow of the property. Provides that if an affidavit is filed in bad faith, the filer is subject to penalties and interest equivalent to what the filer would have owed in the case of underpayment of income taxes in the same amount at the same point in time.

Every action

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

  1. HouseFiled with the Clerk by Rep. Jed Davis
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. HouseSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

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.