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Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that, if an ordinance is adopted after the effective date of the amendatory Act creating a redevelopment project area, the redevelopment project area will expire in the 23rd year after the year in which the first project started using the moneys from the special tax allocation fund (rather than the 23rd year after the year in which the ordinance approving the redevelopment project area was adopted). Provides, however, that, for ordinances adopted after the effective date of the amendatory Act, the 23 years must begin to run no later than 10 years after the year in which the ordinance approving the redevelopment project area was adopted even if no projects have been started using the moneys from the special tax allocation fund. Makes a conforming change in provisions extending the expiration of a redevelopment project area to the 35th calendar year. Provides that no extensions of redevelopment project areas to the 47th calendar year may occur after the effective date of the amendatory Act. Effective immediately.
Introduced
Jan 14, 2026
Last Action
Feb 26, 2026
Session
IL 104th
Sponsors
1 primary · 0 co
To Tax Policy: Other Taxes Subcommittee
Assigned to Revenue & Finance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Jackie Haas
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
To Tax Policy: Other Taxes Subcommittee