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HB 5556

Illinois - Session 104

House of Representatives in_committee 2026-03-27
Bill Details

Title: STATEWIDE INNOVATION-PILOT

Summary

Amends the Statewide Innovation Development and Economy Act. Creates a New Opportunities for Vacation and Adventure Urban District or NOVA urban district. Sets forth the capital investment and job creation requirements to be certified as a NOVA urban district. Amends the Property Tax Code. Creates the Megaproject Assessment Freeze and Payment Law. Provides that property that receives a megaproject certificate from the Department of Commerce and Economic Opportunity is eligible for an assessment freeze. Contains provisions concerning megaproject incentive agreements.

Sponsor
Jay Hoffman
Official Source Back to Bills
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Actions Timeline
Date Event Detail
2026-02-13 Introduced Bill introduced
2026-03-27 Status in_committee
2026-03-27 Latest Action 3/27/2026 - House:
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