HB 5556

Illinois House of Representatives bill in Session 104.

Status: in_committee. Latest action: March 27, 2026.

STATEWIDE INNOVATION-PILOT.

Bill ID IL-104-HB-5556

Session 104

Status in_committee

Committee Rules Committee

House of Representatives in_committee 2026-03-27

Business / Commerce Tax / Budget / Appropriations

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

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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