99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB4766

 

Introduced , by Rep. Jim Durkin

 

SYNOPSIS AS INTRODUCED:
 
65 ILCS 46/5-5

    Amends the Municipal Validation Law of 2002. Makes a technical change in a Section concerning redevelopment actions.


LRB099 18014 AWJ 42377 b

 

 

A BILL FOR

 

HB4766LRB099 18014 AWJ 42377 b

1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Municipal Validation Law of 2002 is amended
5by changing Section 5-5 as follows:
 
6    (65 ILCS 46/5-5)
7    Sec. 5-5. Redevelopment actions; validation. All actions
8taken before the the effective date of this Law by any
9municipality pursuant to the Tax Increment Allocation
10Redevelopment Act for purposes of approving a redevelopment
11plan and redevelopment project, designating a redevelopment
12project area, and adopting tax increment allocation financing
13are validated, ratified, and confirmed as valid actions in full
14force and effect as of the date of adoption of the ordinance of
15the municipality approving the redevelopment plan and project,
16notwithstanding that an ordinance designating the
17redevelopment project area was not adopted on that date and an
18ordinance adopting tax increment allocation financing was not
19adopted on that date, provided that, no later than 180 days
20after the effective date of this Law, the governing body of the
21municipality adopts an ordinance designating the redevelopment
22project area and an ordinance adopting tax increment allocation
23financing for the redevelopment project area.

 

 

HB4766- 2 -LRB099 18014 AWJ 42377 b

1(Source: P.A. 92-884, eff. 1-13-03.)