Bill
SB 3436
Establishes the Cap City Redevelopment Zone to spur economic development with incentives, financing, and regulatory tools for targeted redevelopment.
SB 3436 (104th General Assembly) – CAP CITY REDEVELOPMENT ZONE
Overview
- Jurisdiction: Illinois
- Session: 104th General Assembly
- Title: Cap City Redevelopment Zone
- Primary sponsor: Senator Doris Turner (co-sponsor)
- Current status: Assigned to Revenue; Rule 2-10 deadlines set (commissioning process ongoing in 2026)
Purpose and intent
- The bill proposes establishing a designated redevelopment zone, referred to as the “Cap City Redevelopment Zone,” with the aim of stimulating economic development, redevelopment, and investment within a defined area.
- It seeks to create a framework for incentives and regulatory provisions to attract private investment, support public projects, and facilitate neighborhood revitalization.
Key provisions and mechanisms (as indicated by bill’s structure and summary cues)
- Redevelopment Zone designation: Establishes a specific geographic area within Illinois that qualifies for targeted redevelopment efforts.
- Incentives and financing: Likely to authorize financial incentives (such as tax incentives, abatements, or competitive grant programs) designed to attract developers and stimulate project activity within the zone. The exact mix (e.g., tax increment financing, sales tax sharing, or property tax incentives) would be detailed in the full bill text.
- Eligible activities: Redevelopment activities may include property assembly, infrastructure improvements, blight remediation, housing development, commercial or mixed-use development, and public‑private partnerships.
- Governance and administration: May establish a governing body or designate a city, county, or municipal authority to administer the zone, approve projects, and monitor compliance.
- Compliance and reporting: Likely includes reporting requirements to ensure oversight, measure outcomes, and ensure eligible uses of funds or incentives.
- Interaction with existing programs: The bill may specify how the Cap City Redevelopment Zone interacts with state economic development programs, local zoning, and other redevelopment tools.
Who would be affected
- Local governments: Cities or municipalities hosting the Redevelopment Zone would manage designation, development approvals, and program administration.
- Developers and property owners: Entities involved in qualifying redevelopment projects within the zone could access incentives and financing mechanisms.
- Taxpayers and residents: Indirect impact through potential changes in property values, tax receipts, and local services tied to redevelopment outcomes.
- Public agencies: State or local agencies involved in oversight, budgeting, and accountability for programs within the zone.
Procedural and timeline notes
- Filing and introduction: Filed February 4, 2026; first reading and assigned to Assignments.
- Committee path: Referred to Assignments on Feb 4, 2026; later assigned to Revenue (Feb 17, 2026).
- Rule 2-10 deadlines: Committee/3rd Reading Deadline established May 15, 2026; Committee Deadline established April 24, 2026.
- Next steps: The bill will move through committee hearings (likely in Revenue or related committees), potential amendments, and floor consideration by the Senate, with further timeline dependent on schedule and action by the chamber.
Notes
- The full text is not included here; specific eligible activities, precise incentives, funding levels, geographic boundaries, and sunset/renewal provisions would be clarified in the enacted bill or the accompanying fiscal note. For a complete understanding, review the bill’s full text and any fiscal impact statements.
Compiled from official sources — confirm details with the bill’s official record.
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