HB2426 101ST GENERAL ASSEMBLY

LRB101 06290 AWJ 51316 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2426

Introduced , by Rep. Allen Skillicorn

SYNOPSIS AS INTRODUCED:

65 ILCS 5/11-74.4-13 new

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that new redevelopment project areas may not be established under the Act until 2 years after the effective date of the amendatory Act. Repeals the provisions 2 years after the effective date of the amendatory Act. Effective immediately.

A BILL FOR

AN ACT concerning government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Municipal Code is amended by adding Section 11-74.4-13 as follows:

(65 ILCS 5/11-74.4-13 new)

Sec. 11-74.4-13. Two-year moratorium on new redevelopment project areas.

(a) Notwithstanding any other provision of law, new redevelopment project areas may not be established under this Act until 2 years after the effective date of this amendatory Act of the 101st General Assembly.

(b) This Section is repealed 2 years after the effective date of this amendatory Act of the 101st General Assembly.

Section 99. Effective date. This Act takes effect upon becoming law.