Illinois HB 4168: FINANCIALLY DISTRESSED CITIES

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB4168

Introduced 10/28/2025, by Rep. Kevin Schmidt 

SYNOPSIS AS INTRODUCED:

65 ILCS 5/8-8-3.5

 Amends the Illinois Municipal Code. In provisions concerning the reports a municipality is required to provide to the Comptroller under the Tax Increment Allocation Redevelopment Act, provides that, beginning on the effective date of the amendatory Act, if a municipality fails to file the Tax Increment Financing Report within the time required, then the Comptroller may order the municipality to cease all distributions from its Special Tax Allocation Fund for redevelopment project costs other than debt service on bonds until the municipality files the Tax Increment Financing Report. Requires the municipality to comply with the Comptroller's orders.

LRB104 15647 RTM 28817 b

A BILL FOR

HB4168LRB104 15647 RTM 28817 b

1 AN ACT concerning local government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Municipal Code is amended by 

5changing Section 8-8-3.5 as follows:

6 (65 ILCS 5/8-8-3.5)

7 Sec. 8-8-3.5. Tax Increment Financing Report. The reports 

8filed under subsection (d) of Section 11-74.4-5 of the Tax 

9Increment Allocation Redevelopment Act and the reports filed 

10under subsection (d) of Section 11-74.6-22 of the Industrial 

11Jobs Recovery Law in the Illinois Municipal Code must be 

12separate from any other annual report filed with the 

13Comptroller. The Comptroller must, in cooperation with 

14reporting municipalities, create a format for the reporting of 

15information described in paragraphs (1.5), (5), and (8) and in 

16subparagraph (G) of paragraph (7) of subsection (d) of Se