Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated dates of completion of redevelopment projects and the retirement of obligations issued to finance redevelopment project costs for various ordinances adopted by the Village of Bourbonnais, City of Geneva, Village of Downers Grove, City of Chicago, and Village of Fox River Grove. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after the adoption of the ordinance of March 30, 1992 by the Village of Ohio. Requires adoption of an ordinance by the Village of Ohio 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: Moderate Partisan Bill (Democrat 5-1)

Status: (Passed) 2023-12-08 - Public Act . . . . . . . . . 103-0575 [SB0696 Detail]

Text: Latest bill text (Chaptered) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Omar Aquino [D]	Primary	Sponsored Bills	SD-002	FollowTheMoney	Ballotpedia	VoteSmart
Representative Hoan Huynh [D]	Primary	Sponsored Bills	HD-013	FollowTheMoney	Ballotpedia	VoteSmart
Representative Cyril Nichols [D]	Cosponsor	Sponsored Bills	HD-032	N/A	Ballotpedia	VoteSmart
Representative Kevin Olickal [D]	Cosponsor	Sponsored Bills	HD-016	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anthony DeLuca [D]	Cosponsor	Sponsored Bills	HD-080	FollowTheMoney	Ballotpedia	VoteSmart
Representative Ryan Spain [R]	Cosponsor	Sponsored Bills	HD-073	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL SB0696