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Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, after the effective date of the amendatory Act, the General Assembly shall not approve the extension of a redevelopment project and the retirement of its obligations to a date that is beyond the 35th calendar year after the year in which the ordinance approving the redevelopment project areas was adopted. Effective immediately.
Introduced
Jan 9, 2025
Last Action
Mar 21, 2025
Session
IL 104th
Sponsors
1 primary · 1 co
Rule 19(a) / Re-referred to Rules Committee
To Finance Subcommittee
Assigned to Revenue & Finance Committee
Added Co-Sponsor Rep. Maura Hirschauer
Filed with the Clerk by Rep. Jeff Keicher
Referred to Rules Committee
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 19(a) / Re-referred to Rules Committee