Bill Text: IL HB4890 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Amends the Municipal Validation Law of 2002. Makes a technical change in a Section concerning redevelopment actions.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB4890 Detail]
Download: Illinois-2011-HB4890-Introduced.html
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1 | AN ACT concerning local government.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Municipal Validation Law of 2002 is amended | |||||||||||||||||||
5 | by changing Section 5-5 as follows:
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6 | (65 ILCS 46/5-5)
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7 | Sec. 5-5. Redevelopment actions; validation. All actions | |||||||||||||||||||
8 | taken before the
the
effective
date of this Law by any | |||||||||||||||||||
9 | municipality pursuant to the Tax Increment Allocation
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10 | Redevelopment Act for purposes of approving a redevelopment | |||||||||||||||||||
11 | plan and
redevelopment
project, designating a redevelopment | |||||||||||||||||||
12 | project area, and adopting tax increment
allocation
financing | |||||||||||||||||||
13 | are validated, ratified, and confirmed as valid actions in full | |||||||||||||||||||
14 | force
and effect as
of the date of adoption of the ordinance of | |||||||||||||||||||
15 | the municipality approving the
redevelopment
plan and project, | |||||||||||||||||||
16 | notwithstanding that an ordinance designating the
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17 | redevelopment
project area was not adopted on that date and an | |||||||||||||||||||
18 | ordinance adopting tax
increment
allocation financing was not | |||||||||||||||||||
19 | adopted on that date, provided that, no later than
180 days
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20 | after the effective date of this Law, the governing body of the | |||||||||||||||||||
21 | municipality
adopts an
ordinance designating the redevelopment | |||||||||||||||||||
22 | project area and an ordinance adopting
tax
increment allocation | |||||||||||||||||||
23 | financing for the redevelopment project area. |
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1 | (Source: P.A. 92-884, eff. 1-13-03.)
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