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Neutral Bill Mar 16, 2026

STATEWIDE INNOVATION-PILOT

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.

https://legiscan.com/IL/bill/HB5556/2025
Jay Hoffman State Representative
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