Rep. Careen M Gordon
Filed: 4/1/2009
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1 | AMENDMENT TO HOUSE BILL 1628
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2 | AMENDMENT NO. ______. Amend House Bill 1628 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Illinois Municipal Code is amended by | ||||||
5 | changing Section 11-74.4-3.5 as follows: | ||||||
6 | (65 ILCS 5/11-74.4-3.5) | ||||||
7 | (Text of Section before amendment by P.A. 95-1028 ) | ||||||
8 | Sec. 11-74.4-3.5. Completion dates for redevelopment | ||||||
9 | projects. | ||||||
10 | (a) Unless otherwise stated in this Section, the estimated | ||||||
11 | dates of completion
of the redevelopment project and retirement | ||||||
12 | of obligations issued to finance
redevelopment project costs | ||||||
13 | (including refunding bonds under Section 11-74.4-7) may not be
| ||||||
14 | later than December 31 of the year in which the payment to the | ||||||
15 | municipal
treasurer, as provided in subsection (b) of Section | ||||||
16 | 11-74.4-8 of this Act, is to
be made with respect to ad valorem |
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| |||||||
1 | taxes levied in the 23rd
calendar year after the year in which | ||||||
2 | the ordinance approving the
redevelopment project area was | ||||||
3 | adopted if the ordinance was adopted on or after
January 15, | ||||||
4 | 1981. | ||||||
5 | (b) The estimated dates of completion
of the redevelopment | ||||||
6 | project and retirement of obligations issued to finance
| ||||||
7 | redevelopment project costs (including refunding bonds under | ||||||
8 | Section 11-74.4-7) may not be later than December 31 of the | ||||||
9 | year in which the payment to the municipal
treasurer as | ||||||
10 | provided in subsection (b) of Section 11-74.4-8 of this Act is | ||||||
11 | to
be made with respect to ad valorem taxes levied in the 33rd | ||||||
12 | calendar
year after the year in which the ordinance approving | ||||||
13 | the
redevelopment project area was adopted, if the ordinance | ||||||
14 | was adopted on May 20, 1985 by the Village of Wheeling. | ||||||
15 | (c) The estimated dates of completion
of the redevelopment | ||||||
16 | project and retirement of obligations issued to finance
| ||||||
17 | redevelopment project costs (including refunding bonds under | ||||||
18 | Section 11-74.4-7) may not be later than December 31 of the | ||||||
19 | year in which the payment to the municipal
treasurer as | ||||||
20 | provided in subsection (b) of Section 11-74.4-8 of this Act is | ||||||
21 | to
be made with respect to ad valorem taxes levied in the 35th | ||||||
22 | calendar
year after the year in which the ordinance approving | ||||||
23 | the
redevelopment project area was adopted: | ||||||
24 | (1) if the ordinance was adopted before January 15, | ||||||
25 | 1981; | ||||||
26 | (2) if the ordinance was adopted in December 1983, |
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| |||||||
1 | April 1984, July 1985,
or December 1989; | ||||||
2 | (3) if the ordinance was adopted in December 1987 and | ||||||
3 | the redevelopment
project is located within one mile of | ||||||
4 | Midway Airport; | ||||||
5 | (4) if the ordinance was adopted before January 1, 1987 | ||||||
6 | by a municipality in
Mason County; | ||||||
7 | (5) if the municipality is subject to the Local | ||||||
8 | Government Financial Planning
and Supervision Act or the | ||||||
9 | Financially Distressed City Law; | ||||||
10 | (6) if the ordinance was adopted in December 1984 by | ||||||
11 | the Village of Rosemont; | ||||||
12 | (7) if the ordinance was adopted on December 31, 1986 | ||||||
13 | by a municipality
located in Clinton County for which at | ||||||
14 | least $250,000 of tax increment
bonds were authorized on | ||||||
15 | June 17, 1997, or if the ordinance was adopted on
December | ||||||
16 | 31, 1986 by a municipality with a population in 1990 of | ||||||
17 | less than
3,600 that is located in a county with a | ||||||
18 | population in 1990 of less than
34,000 and for which at | ||||||
19 | least $250,000 of tax increment bonds were authorized
on | ||||||
20 | June 17, 1997; | ||||||
21 | (8) if the ordinance was adopted on October 5, 1982 by | ||||||
22 | the City of Kankakee, or if the ordinance was adopted on | ||||||
23 | December 29, 1986 by East St. Louis; | ||||||
24 | (9) if
the ordinance was adopted on November 12, 1991 | ||||||
25 | by the Village of Sauget; | ||||||
26 | (10) if the ordinance was
adopted on February 11, 1985 |
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1 | by the City of Rock Island; | ||||||
2 | (11) if the ordinance was adopted before December 18, | ||||||
3 | 1986 by the City of
Moline; | ||||||
4 | (12) if the ordinance was adopted in September 1988 by | ||||||
5 | Sauk Village; | ||||||
6 | (13) if the ordinance was adopted in October 1993 by | ||||||
7 | Sauk Village; | ||||||
8 | (14) if the ordinance was adopted on December 29, 1986 | ||||||
9 | by the City of Galva; | ||||||
10 | (15) if the ordinance was adopted in March 1991 by the | ||||||
11 | City of Centreville; | ||||||
12 | (16) if the ordinance was adopted on January 23, 1991
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13 | by the City of East St. Louis; | ||||||
14 | (17) if the ordinance was adopted on December 22, 1986 | ||||||
15 | by the City of Aledo; | ||||||
16 | (18) if the ordinance was adopted on February 5, 1990 | ||||||
17 | by the City of Clinton; | ||||||
18 | (19) if the ordinance was adopted on September 6, 1994 | ||||||
19 | by the City of Freeport; | ||||||
20 | (20) if the ordinance was adopted on December 22, 1986 | ||||||
21 | by the City of Tuscola; | ||||||
22 | (21) if the ordinance was adopted on December 23, 1986 | ||||||
23 | by the City of Sparta; | ||||||
24 | (22) if the ordinance was adopted on December 23, 1986 | ||||||
25 | by the City of
Beardstown; | ||||||
26 | (23) if the ordinance was adopted on April 27, 1981, |
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| |||||||
1 | October 21, 1985, or
December 30, 1986 by the City of | ||||||
2 | Belleville; | ||||||
3 | (24) if the ordinance was adopted on December 29, 1986 | ||||||
4 | by the City of
Collinsville; | ||||||
5 | (25) if the ordinance was adopted on September 14, 1994 | ||||||
6 | by the
City of Alton; | ||||||
7 | (26) if the ordinance was adopted on November 11, 1996 | ||||||
8 | by the
City of Lexington; | ||||||
9 | (27) if the ordinance was adopted on November 5, 1984 | ||||||
10 | by
the City of LeRoy; | ||||||
11 | (28) if the ordinance was adopted on April 3, 1991 or
| ||||||
12 | June 3, 1992 by the City of Markham; | ||||||
13 | (29) if the ordinance was adopted on November 11, 1986 | ||||||
14 | by the City of Pekin; | ||||||
15 | (30) if the ordinance was adopted on December 15, 1981 | ||||||
16 | by the City of Champaign; | ||||||
17 | (31) if the ordinance was adopted on December 15, 1986 | ||||||
18 | by the City of Urbana; | ||||||
19 | (32) if the ordinance was adopted on December 15, 1986 | ||||||
20 | by the Village of Heyworth; | ||||||
21 | (33) if the ordinance was adopted on February 24, 1992 | ||||||
22 | by the Village of Heyworth; | ||||||
23 | (34) if the ordinance was adopted on March 16, 1995 by | ||||||
24 | the Village of Heyworth; | ||||||
25 | (35) if the ordinance was adopted on December 23, 1986 | ||||||
26 | by the Town of Cicero; |
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1 | (36) if the ordinance was adopted on December 30, 1986 | ||||||
2 | by the City of Effingham; | ||||||
3 | (37) if the ordinance was adopted on May 9, 1991 by the | ||||||
4 | Village of
Tilton; | ||||||
5 | (38) if the ordinance was adopted on October 20, 1986 | ||||||
6 | by the City of Elmhurst; | ||||||
7 | (39) if the ordinance was adopted on January 19, 1988 | ||||||
8 | by the City of
Waukegan; | ||||||
9 | (40) if the ordinance was adopted on September 21, 1998 | ||||||
10 | by the City of
Waukegan; | ||||||
11 | (41) if the ordinance was adopted on December 31, 1986 | ||||||
12 | by the City of Sullivan; | ||||||
13 | (42) if the ordinance was adopted on December 23, 1991 | ||||||
14 | by the City of Sullivan; | ||||||
15 | (43) if the ordinance was adopted on December 31, 1986 | ||||||
16 | by the City of Oglesby; | ||||||
17 | (44) if the ordinance was adopted on July 28, 1987 by | ||||||
18 | the City of Marion; | ||||||
19 | (45) if the ordinance was adopted on April 23, 1990 by | ||||||
20 | the City of Marion; | ||||||
21 | (46) if the ordinance was adopted on August 20, 1985 by | ||||||
22 | the Village of Mount Prospect; | ||||||
23 | (47) if the ordinance was adopted on February 2, 1998 | ||||||
24 | by the Village of Woodhull; | ||||||
25 | (48) if the ordinance was adopted on April 20, 1993 by | ||||||
26 | the Village of Princeville; |
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1 | (49) if the ordinance was adopted on July 1, 1986 by | ||||||
2 | the City of Granite City; | ||||||
3 | (50) if the ordinance was adopted on February 2, 1989 | ||||||
4 | by the Village of Lombard; | ||||||
5 | (51) if the ordinance was adopted on December 29, 1986 | ||||||
6 | by the Village of Gardner; | ||||||
7 | (52) if the ordinance was adopted on July 14, 1999 by | ||||||
8 | the Village of Paw Paw; | ||||||
9 | (53) if the ordinance was adopted on November 17, 1986 | ||||||
10 | by the Village of Franklin Park; | ||||||
11 | (54) if the ordinance was adopted on November 20, 1989 | ||||||
12 | by the Village of South Holland; | ||||||
13 | (55) if the ordinance was adopted on July 14, 1992 by | ||||||
14 | the Village of Riverdale; | ||||||
15 | (56) if the ordinance was adopted on December 29, 1986 | ||||||
16 | by the City of Galesburg; | ||||||
17 | (57) if the ordinance was adopted on April 1, 1985 by | ||||||
18 | the City of Galesburg; | ||||||
19 | (58) if the ordinance was adopted on May 21, 1990 by | ||||||
20 | the City of West Chicago; | ||||||
21 | (59) if the ordinance was adopted on December 16, 1986 | ||||||
22 | by the City of Oak Forest; | ||||||
23 | (60) if the ordinance was adopted in 1999 by the City | ||||||
24 | of Villa Grove; | ||||||
25 | (61) if the ordinance was adopted on January 13, 1987 | ||||||
26 | by the Village of Mt. Zion; |
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1 | (62) if the ordinance was adopted on December 30, 1986 | ||||||
2 | by the Village of Manteno; | ||||||
3 | (63) if the ordinance was adopted on April 3, 1989 by | ||||||
4 | the City of Chicago Heights; | ||||||
5 | (64) if the ordinance was adopted on January 6, 1999 by | ||||||
6 | the Village of Rosemont; | ||||||
7 | (65) if the ordinance was adopted on December 19, 2000 | ||||||
8 | by the Village of Stone Park; | ||||||
9 | (66) if the ordinance was adopted on December 22, 1986 | ||||||
10 | by the City of DeKalb; or | ||||||
11 | (67) if the ordinance was adopted on December 2, 1986 | ||||||
12 | by the City of Aurora ; .
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13 | (68)
(67) if the ordinance was adopted on December 31, | ||||||
14 | 1986 by the Village of Milan; or | ||||||
15 | (69)
(68) if the ordinance was adopted on September 8, | ||||||
16 | 1994 by the City of West Frankfort ; . | ||||||
17 | (70) if the ordinance was adopted on December 23, 1986 | ||||||
18 | by the Village of Libertyville; or | ||||||
19 | (72) if the ordinance was adopted on December 29, 1986 | ||||||
20 | by the City of Morris. | ||||||
21 | (d) For redevelopment project areas for which bonds were | ||||||
22 | issued before
July 29, 1991, or for which contracts were | ||||||
23 | entered into before June 1,
1988, in connection with a | ||||||
24 | redevelopment project in the area within
the State Sales Tax | ||||||
25 | Boundary, the estimated dates of completion of the
| ||||||
26 | redevelopment project and retirement of obligations to finance |
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| |||||||
1 | redevelopment
project costs (including refunding bonds under | ||||||
2 | Section 11-74.4-7) may be extended by municipal ordinance to | ||||||
3 | December 31, 2013.
The termination procedures of subsection (b) | ||||||
4 | of Section 11-74.4-8 are not
required for
these redevelopment | ||||||
5 | project areas in 2009 but are required in 2013.
The extension | ||||||
6 | allowed by Public Act 87-1272 shall not apply to real
property | ||||||
7 | tax increment allocation financing under Section 11-74.4-8. | ||||||
8 | (e) Those dates, for purposes of real property tax | ||||||
9 | increment allocation
financing pursuant to Section 11-74.4-8 | ||||||
10 | only, shall be not more than 35 years
for redevelopment project | ||||||
11 | areas that were adopted on or after December 16,
1986 and for | ||||||
12 | which at least $8 million worth of municipal bonds were | ||||||
13 | authorized
on or after December 19, 1989 but before January 1, | ||||||
14 | 1990; provided that the
municipality elects to extend the life | ||||||
15 | of the redevelopment project area to 35
years by the adoption | ||||||
16 | of an ordinance after at least 14 but not more than 30
days' | ||||||
17 | written notice to the taxing bodies, that would otherwise | ||||||
18 | constitute the
joint review board for the redevelopment project | ||||||
19 | area, before the adoption of
the ordinance. | ||||||
20 | (f) Those dates, for purposes of real property tax | ||||||
21 | increment allocation
financing pursuant to Section 11-74.4-8 | ||||||
22 | only, shall be not more than 35 years
for redevelopment project | ||||||
23 | areas that were established on or after December 1,
1981 but | ||||||
24 | before January 1, 1982 and for which at least $1,500,000 worth | ||||||
25 | of
tax increment revenue bonds were authorized
on or after | ||||||
26 | September 30, 1990 but before July 1, 1991; provided that the
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1 | municipality elects to extend the life of the redevelopment | ||||||
2 | project area to 35
years by the adoption of an ordinance after | ||||||
3 | at least 14 but not more than 30
days' written notice to the | ||||||
4 | taxing bodies, that would otherwise constitute the
joint review | ||||||
5 | board for the redevelopment project area, before the adoption | ||||||
6 | of
the ordinance. | ||||||
7 | (g) In consolidating the material relating to completion | ||||||
8 | dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, | ||||||
9 | it is not the intent of the 95th General Assembly to make any | ||||||
10 | substantive change in the law, except for the extension of the | ||||||
11 | completion dates date for the City of Aurora , the Village of | ||||||
12 | Milan ,
and the City of West Frankfort , and the Village of | ||||||
13 | Libertyville set forth under items item (67) ,
and (68) , (69), | ||||||
14 | and (70) of subsection (c) of this Section.
| ||||||
15 | (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; | ||||||
16 | incorporates P.A. 95-777, eff. 9-22-08; revised 10-14-08.) | ||||||
17 | (Text of Section after amendment by P.A. 95-1028 ) | ||||||
18 | Sec. 11-74.4-3.5. Completion dates for redevelopment | ||||||
19 | projects. | ||||||
20 | (a) Unless otherwise stated in this Section, the estimated | ||||||
21 | dates of completion
of the redevelopment project and retirement | ||||||
22 | of obligations issued to finance
redevelopment project costs | ||||||
23 | (including refunding bonds under Section 11-74.4-7) may not be
| ||||||
24 | later than December 31 of the year in which the payment to the | ||||||
25 | municipal
treasurer, as provided in subsection (b) of Section |
| |||||||
| |||||||
1 | 11-74.4-8 of this Act, is to
be made with respect to ad valorem | ||||||
2 | taxes levied in the 23rd
calendar year after the year in which | ||||||
3 | the ordinance approving the
redevelopment project area was | ||||||
4 | adopted if the ordinance was adopted on or after
January 15, | ||||||
5 | 1981. | ||||||
6 | (b) The estimated dates of completion
of the redevelopment | ||||||
7 | project and retirement of obligations issued to finance
| ||||||
8 | redevelopment project costs (including refunding bonds under | ||||||
9 | Section 11-74.4-7) may not be later than December 31 of the | ||||||
10 | year in which the payment to the municipal
treasurer as | ||||||
11 | provided in subsection (b) of Section 11-74.4-8 of this Act is | ||||||
12 | to
be made with respect to ad valorem taxes levied in the 33rd | ||||||
13 | calendar
year after the year in which the ordinance approving | ||||||
14 | the
redevelopment project area was adopted, if the ordinance | ||||||
15 | was adopted on May 20, 1985 by the Village of Wheeling. | ||||||
16 | (c) The estimated dates of completion
of the redevelopment | ||||||
17 | project and retirement of obligations issued to finance
| ||||||
18 | redevelopment project costs (including refunding bonds under | ||||||
19 | Section 11-74.4-7) may not be later than December 31 of the | ||||||
20 | year in which the payment to the municipal
treasurer as | ||||||
21 | provided in subsection (b) of Section 11-74.4-8 of this Act is | ||||||
22 | to
be made with respect to ad valorem taxes levied in the 35th | ||||||
23 | calendar
year after the year in which the ordinance approving | ||||||
24 | the
redevelopment project area was adopted: | ||||||
25 | (1) if the ordinance was adopted before January 15, | ||||||
26 | 1981; |
| |||||||
| |||||||
1 | (2) if the ordinance was adopted in December 1983, | ||||||
2 | April 1984, July 1985,
or December 1989; | ||||||
3 | (3) if the ordinance was adopted in December 1987 and | ||||||
4 | the redevelopment
project is located within one mile of | ||||||
5 | Midway Airport; | ||||||
6 | (4) if the ordinance was adopted before January 1, 1987 | ||||||
7 | by a municipality in
Mason County; | ||||||
8 | (5) if the municipality is subject to the Local | ||||||
9 | Government Financial Planning
and Supervision Act or the | ||||||
10 | Financially Distressed City Law; | ||||||
11 | (6) if the ordinance was adopted in December 1984 by | ||||||
12 | the Village of Rosemont; | ||||||
13 | (7) if the ordinance was adopted on December 31, 1986 | ||||||
14 | by a municipality
located in Clinton County for which at | ||||||
15 | least $250,000 of tax increment
bonds were authorized on | ||||||
16 | June 17, 1997, or if the ordinance was adopted on
December | ||||||
17 | 31, 1986 by a municipality with a population in 1990 of | ||||||
18 | less than
3,600 that is located in a county with a | ||||||
19 | population in 1990 of less than
34,000 and for which at | ||||||
20 | least $250,000 of tax increment bonds were authorized
on | ||||||
21 | June 17, 1997; | ||||||
22 | (8) if the ordinance was adopted on October 5, 1982 by | ||||||
23 | the City of Kankakee, or if the ordinance was adopted on | ||||||
24 | December 29, 1986 by East St. Louis; | ||||||
25 | (9) if
the ordinance was adopted on November 12, 1991 | ||||||
26 | by the Village of Sauget; |
| |||||||
| |||||||
1 | (10) if the ordinance was
adopted on February 11, 1985 | ||||||
2 | by the City of Rock Island; | ||||||
3 | (11) if the ordinance was adopted before December 18, | ||||||
4 | 1986 by the City of
Moline; | ||||||
5 | (12) if the ordinance was adopted in September 1988 by | ||||||
6 | Sauk Village; | ||||||
7 | (13) if the ordinance was adopted in October 1993 by | ||||||
8 | Sauk Village; | ||||||
9 | (14) if the ordinance was adopted on December 29, 1986 | ||||||
10 | by the City of Galva; | ||||||
11 | (15) if the ordinance was adopted in March 1991 by the | ||||||
12 | City of Centreville; | ||||||
13 | (16) if the ordinance was adopted on January 23, 1991
| ||||||
14 | by the City of East St. Louis; | ||||||
15 | (17) if the ordinance was adopted on December 22, 1986 | ||||||
16 | by the City of Aledo; | ||||||
17 | (18) if the ordinance was adopted on February 5, 1990 | ||||||
18 | by the City of Clinton; | ||||||
19 | (19) if the ordinance was adopted on September 6, 1994 | ||||||
20 | by the City of Freeport; | ||||||
21 | (20) if the ordinance was adopted on December 22, 1986 | ||||||
22 | by the City of Tuscola; | ||||||
23 | (21) if the ordinance was adopted on December 23, 1986 | ||||||
24 | by the City of Sparta; | ||||||
25 | (22) if the ordinance was adopted on December 23, 1986 | ||||||
26 | by the City of
Beardstown; |
| |||||||
| |||||||
1 | (23) if the ordinance was adopted on April 27, 1981, | ||||||
2 | October 21, 1985, or
December 30, 1986 by the City of | ||||||
3 | Belleville; | ||||||
4 | (24) if the ordinance was adopted on December 29, 1986 | ||||||
5 | by the City of
Collinsville; | ||||||
6 | (25) if the ordinance was adopted on September 14, 1994 | ||||||
7 | by the
City of Alton; | ||||||
8 | (26) if the ordinance was adopted on November 11, 1996 | ||||||
9 | by the
City of Lexington; | ||||||
10 | (27) if the ordinance was adopted on November 5, 1984 | ||||||
11 | by
the City of LeRoy; | ||||||
12 | (28) if the ordinance was adopted on April 3, 1991 or
| ||||||
13 | June 3, 1992 by the City of Markham; | ||||||
14 | (29) if the ordinance was adopted on November 11, 1986 | ||||||
15 | by the City of Pekin; | ||||||
16 | (30) if the ordinance was adopted on December 15, 1981 | ||||||
17 | by the City of Champaign; | ||||||
18 | (31) if the ordinance was adopted on December 15, 1986 | ||||||
19 | by the City of Urbana; | ||||||
20 | (32) if the ordinance was adopted on December 15, 1986 | ||||||
21 | by the Village of Heyworth; | ||||||
22 | (33) if the ordinance was adopted on February 24, 1992 | ||||||
23 | by the Village of Heyworth; | ||||||
24 | (34) if the ordinance was adopted on March 16, 1995 by | ||||||
25 | the Village of Heyworth; | ||||||
26 | (35) if the ordinance was adopted on December 23, 1986 |
| |||||||
| |||||||
1 | by the Town of Cicero; | ||||||
2 | (36) if the ordinance was adopted on December 30, 1986 | ||||||
3 | by the City of Effingham; | ||||||
4 | (37) if the ordinance was adopted on May 9, 1991 by the | ||||||
5 | Village of
Tilton; | ||||||
6 | (38) if the ordinance was adopted on October 20, 1986 | ||||||
7 | by the City of Elmhurst; | ||||||
8 | (39) if the ordinance was adopted on January 19, 1988 | ||||||
9 | by the City of
Waukegan; | ||||||
10 | (40) if the ordinance was adopted on September 21, 1998 | ||||||
11 | by the City of
Waukegan; | ||||||
12 | (41) if the ordinance was adopted on December 31, 1986 | ||||||
13 | by the City of Sullivan; | ||||||
14 | (42) if the ordinance was adopted on December 23, 1991 | ||||||
15 | by the City of Sullivan; | ||||||
16 | (43) if the ordinance was adopted on December 31, 1986 | ||||||
17 | by the City of Oglesby; | ||||||
18 | (44) if the ordinance was adopted on July 28, 1987 by | ||||||
19 | the City of Marion; | ||||||
20 | (45) if the ordinance was adopted on April 23, 1990 by | ||||||
21 | the City of Marion; | ||||||
22 | (46) if the ordinance was adopted on August 20, 1985 by | ||||||
23 | the Village of Mount Prospect; | ||||||
24 | (47) if the ordinance was adopted on February 2, 1998 | ||||||
25 | by the Village of Woodhull; | ||||||
26 | (48) if the ordinance was adopted on April 20, 1993 by |
| |||||||
| |||||||
1 | the Village of Princeville; | ||||||
2 | (49) if the ordinance was adopted on July 1, 1986 by | ||||||
3 | the City of Granite City; | ||||||
4 | (50) if the ordinance was adopted on February 2, 1989 | ||||||
5 | by the Village of Lombard; | ||||||
6 | (51) if the ordinance was adopted on December 29, 1986 | ||||||
7 | by the Village of Gardner; | ||||||
8 | (52) if the ordinance was adopted on July 14, 1999 by | ||||||
9 | the Village of Paw Paw; | ||||||
10 | (53) if the ordinance was adopted on November 17, 1986 | ||||||
11 | by the Village of Franklin Park; | ||||||
12 | (54) if the ordinance was adopted on November 20, 1989 | ||||||
13 | by the Village of South Holland; | ||||||
14 | (55) if the ordinance was adopted on July 14, 1992 by | ||||||
15 | the Village of Riverdale; | ||||||
16 | (56) if the ordinance was adopted on December 29, 1986 | ||||||
17 | by the City of Galesburg; | ||||||
18 | (57) if the ordinance was adopted on April 1, 1985 by | ||||||
19 | the City of Galesburg; | ||||||
20 | (58) if the ordinance was adopted on May 21, 1990 by | ||||||
21 | the City of West Chicago; | ||||||
22 | (59) if the ordinance was adopted on December 16, 1986 | ||||||
23 | by the City of Oak Forest; | ||||||
24 | (60) if the ordinance was adopted in 1999 by the City | ||||||
25 | of Villa Grove; | ||||||
26 | (61) if the ordinance was adopted on January 13, 1987 |
| |||||||
| |||||||
1 | by the Village of Mt. Zion; | ||||||
2 | (62) if the ordinance was adopted on December 30, 1986 | ||||||
3 | by the Village of Manteno; | ||||||
4 | (63) if the ordinance was adopted on April 3, 1989 by | ||||||
5 | the City of Chicago Heights; | ||||||
6 | (64) if the ordinance was adopted on January 6, 1999 by | ||||||
7 | the Village of Rosemont; | ||||||
8 | (65) if the ordinance was adopted on December 19, 2000 | ||||||
9 | by the Village of Stone Park; | ||||||
10 | (66) if the ordinance was adopted on December 22, 1986 | ||||||
11 | by the City of DeKalb; or | ||||||
12 | (67) if the ordinance was adopted on December 2, 1986 | ||||||
13 | by the City of Aurora ; .
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14 | (68)
(67) if the ordinance was adopted on December 31, | ||||||
15 | 1986 by the Village of Milan; or | ||||||
16 | (69)
(68) if the ordinance was adopted on September 8, | ||||||
17 | 1994 by the City of West Frankfort ; . | ||||||
18 | (70) if the ordinance was adopted on December 23, 1986 | ||||||
19 | by the Village of Libertyville; | ||||||
20 | (71) if the ordinance was adopted on December 22, 1986 | ||||||
21 | by the Village of Hoffman Estates; or
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22 | (72) if the ordinance was adopted on December 29, 1986 | ||||||
23 | by the City of Morris.
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24 | (d) For redevelopment project areas for which bonds were | ||||||
25 | issued before
July 29, 1991, or for which contracts were | ||||||
26 | entered into before June 1,
1988, in connection with a |
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1 | redevelopment project in the area within
the State Sales Tax | ||||||
2 | Boundary, the estimated dates of completion of the
| ||||||
3 | redevelopment project and retirement of obligations to finance | ||||||
4 | redevelopment
project costs (including refunding bonds under | ||||||
5 | Section 11-74.4-7) may be extended by municipal ordinance to | ||||||
6 | December 31, 2013.
The termination procedures of subsection (b) | ||||||
7 | of Section 11-74.4-8 are not
required for
these redevelopment | ||||||
8 | project areas in 2009 but are required in 2013.
The extension | ||||||
9 | allowed by Public Act 87-1272 shall not apply to real
property | ||||||
10 | tax increment allocation financing under Section 11-74.4-8. | ||||||
11 | (e) Those dates, for purposes of real property tax | ||||||
12 | increment allocation
financing pursuant to Section 11-74.4-8 | ||||||
13 | only, shall be not more than 35 years
for redevelopment project | ||||||
14 | areas that were adopted on or after December 16,
1986 and for | ||||||
15 | which at least $8 million worth of municipal bonds were | ||||||
16 | authorized
on or after December 19, 1989 but before January 1, | ||||||
17 | 1990; provided that the
municipality elects to extend the life | ||||||
18 | of the redevelopment project area to 35
years by the adoption | ||||||
19 | of an ordinance after at least 14 but not more than 30
days' | ||||||
20 | written notice to the taxing bodies, that would otherwise | ||||||
21 | constitute the
joint review board for the redevelopment project | ||||||
22 | area, before the adoption of
the ordinance. | ||||||
23 | (f) Those dates, for purposes of real property tax | ||||||
24 | increment allocation
financing pursuant to Section 11-74.4-8 | ||||||
25 | only, shall be not more than 35 years
for redevelopment project | ||||||
26 | areas that were established on or after December 1,
1981 but |
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| |||||||
1 | before January 1, 1982 and for which at least $1,500,000 worth | ||||||
2 | of
tax increment revenue bonds were authorized
on or after | ||||||
3 | September 30, 1990 but before July 1, 1991; provided that the
| ||||||
4 | municipality elects to extend the life of the redevelopment | ||||||
5 | project area to 35
years by the adoption of an ordinance after | ||||||
6 | at least 14 but not more than 30
days' written notice to the | ||||||
7 | taxing bodies, that would otherwise constitute the
joint review | ||||||
8 | board for the redevelopment project area, before the adoption | ||||||
9 | of
the ordinance. | ||||||
10 | (g) In consolidating the material relating to completion | ||||||
11 | dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, | ||||||
12 | it is not the intent of the 95th General Assembly to make any | ||||||
13 | substantive change in the law, except for the extension of the | ||||||
14 | completion dates date for the City of Aurora , the Village of | ||||||
15 | Milan ,
and the City of West Frankfort , the Village of | ||||||
16 | Libertyville, and the Village of Hoffman Estates set forth | ||||||
17 | under items item (67) ,
and (68) , (69), (70), and (71) of | ||||||
18 | subsection (c) of this Section.
| ||||||
19 | (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; | ||||||
20 | incorporates P.A. 95-777, eff. 9-22-08, and 95-1028, eff. | ||||||
21 | 1-1-10; revised 1-27-09.) | ||||||
22 | Section 95. No acceleration or delay. Where this Act makes | ||||||
23 | changes in a statute that is represented in this Act by text | ||||||
24 | that is not yet or no longer in effect (for example, a Section | ||||||
25 | represented by multiple versions), the use of that text does |
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| |||||||
1 | not accelerate or delay the taking effect of (i) the changes | ||||||
2 | made by this Act or (ii) provisions derived from any other | ||||||
3 | Public Act.
| ||||||
4 | Section 99. Effective date. This Act takes effect upon | ||||||
5 | becoming law.".
|