Bills · 2025-2026 Regular Session
Relating to: allowing more than 35 percent of the area within a tax incremental district in the Village of Somers to be used for residential use. (FE)
- Introduced, stopped here
- Passes Senate, not reached
- Passes Assembly, not reached
- Governor signs, not reached
- Law, not reached
Unfamiliar terms? Glossary
What this bill does
Plain-language analysis by the nonpartisan Legislative Reference Bureau
Current law requires that revenue obtained through tax incremental financing (TIF) be used only for certain project costs, including any expenditures made or estimated to be made or monetary obligations incurred or estimated to be incurred for a mixed-use development tax incremental district (TID). Under current law, mixed-use development means development that contains a combination of industrial, commercial, or residential uses, except that lands proposed for newly platted residential use may not exceed 35 percent of the real property within the TID.
This bill creates an exception to this 35 percent limit for TIDs in the Village of Somers. Under the bill, lands proposed for newly platted residential use within a mixed-use development TID in the Village of Somers may not exceed 50 percent of the real property within the TID.
What it would cost
Fiscal estimates filed by state agencies, as official PDFs
Sponsors
Full history
- Feb 17, 2026 · Senate
Introduced by Senator Wanggaard; cosponsored by Representatives Novak and McGuire
- Feb 17, 2026 · Senate
Read first time and referred to Committee on Transportation and Local Government
- Feb 18, 2026 · Senate
Senate Amendment 1 offered by Senator Wanggaard
- Feb 18, 2026 · Senate
Fiscal estimate received
- Mar 23, 2026 · Senate
Failed to pass pursuant to Senate Joint Resolution 1