Amends the Property Tax Code. Provides that owners of commercial or industrial property who receive a tax incentive as a result of a tax incentivized development are not eligible to receive distributions from a tax reimbursement account. Effective immediately.
Senate Committee Amendment No. 1: Replaces everything after the enacting clause. Amends the Property Tax Code. Reinserts the provisions of the introduced bill. Provides that the tax incentivized development must be established by an intergovernmental agreement to which the taxing district is a party. Effective immediately.

Statutes affected:
Introduced: 35 ILCS 200/30
Engrossed: 35 ILCS 200/30