Bill Title: Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that any private individual or entity that receives benefits under this Act for the purpose of originating, locating, maintaining, rehabilitating, or expanding a business facility and that abandons or relocates its facility in violation of the agreement shall pay to the municipality an amount equal to the prorated value of the benefit.

Sponsorship: Slight Partisan Bill (Democrat 9-4)

Status: (Passed) 2009-08-11 - Public Act . . . . . . . . . 96-0324 [HB4326 Detail]

Text: Latest bill text (Enrolled) [HTML]

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