Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that the estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs is the 15th calendar year (rather than the 23rd calendar year) after the year in which the ordinance approving the redevelopment project area was adopted for ordinances adopted on or after the effective date of the amendatory Act. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4498 Detail]

Text: Latest bill text (Introduced) [HTML]

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