Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after the adoption of the ordinance of December 20, 1988 by the Village of Lansing. Requires adoption of an ordinance by the Village of Lansing extending the completion date of the redevelopment project area to 47 years and providing notice to the taxing bodies that would otherwise constitute the joint review board. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB5062 Detail]

Text: Latest bill text (Introduced) [HTML]

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