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Public Act 096-1220
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| SB3619 Enrolled | LRB096 20583 RLJ 36281 b |
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AN ACT concerning local government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Municipal Code is amended by |
changing Section 11-74.6-50 as follows:
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(65 ILCS 5/11-74.6-50) |
Sec. 11-74.6-50. Report; sunset of authority. On or before |
the date which is 60 months following the
date
on which
this |
amendatory Act of 1994 becomes law, the Department shall submit |
to the
General Assembly a
report detailing the number of |
redevelopment project areas that have been
established, the |
number and type of jobs created or retained
therein, the |
aggregate amount of tax increment incentives provided, the
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aggregate amount of private investment produced therein, the |
amount of tax
increment revenue produced and available for |
expenditure within the tax
increment financing districts and |
such additional
information
as the Department may determine to |
be relevant. |
On or after January 1, 2012 the date which
is 16 years |
following the date on which this amendatory Act
of 1994 becomes
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law the authority
granted hereunder to municipalities to |
establish redevelopment
project areas and to adopt tax |
increment allocation financing in connection
therewith
shall |