Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated date of completion of a redevelopment project and the retirement of obligations issued to finance redevelopment project costs for an ordinance adopted on December 23, 1986 by the City of Sparta to create TIF #1. Provides that specified termination procedures under the Act are not required for this redevelopment project area prior to the 47th calendar year after the year in which the ordinance approving the redevelopment project year was adopted. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced) 2023-03-10 - Rule 19(a) / Re-referred to Rules Committee [HB2361 Detail]

Text: Latest bill text (Introduced) [HTML]

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