Illinois General Assembly - Full Text of HB2365
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Full Text of HB2365  102nd General Assembly

HB2365enr 102ND GENERAL ASSEMBLY

  
  
  

 


 
HB2365 EnrolledLRB102 10097 AWJ 15418 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 Illinois Municipal Code is amended by
5changing Section 11-74.4-3.5 as follows:
 
6    (65 ILCS 5/11-74.4-3.5)
7    Sec. 11-74.4-3.5. Completion dates for redevelopment
8projects.
9    (a) Unless otherwise stated in this Section, the estimated
10dates of completion of the redevelopment project and
11retirement of obligations issued to finance redevelopment
12project costs (including refunding bonds under Section
1311-74.4-7) may not be later than December 31 of the year in
14which the payment to the municipal treasurer, as provided in
15subsection (b) of Section 11-74.4-8 of this Act, is to be made
16with respect to ad valorem taxes levied in the 23rd calendar
17year after the year in which the ordinance approving the
18redevelopment project area was adopted if the ordinance was
19adopted on or after January 15, 1981.
20    (a-5) If the redevelopment project area is located within
21a transit facility improvement area established pursuant to
22Section 11-74.4-3, the estimated dates of completion of the
23redevelopment project and retirement of obligations issued to

 

 

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1finance redevelopment project costs (including refunding bonds
2under Section 11-74.4-7) may not be later than December 31 of
3the year in which the payment to the municipal treasurer, as
4provided in subsection (b) of Section 11-74.4-8 of this Act,
5is to be made with respect to ad valorem taxes levied in the
635th calendar year after the year in which the ordinance
7approving the redevelopment project area was adopted.
8    (a-7) A municipality may adopt tax increment financing for
9a redevelopment project area located in a transit facility
10improvement area that also includes real property located
11within an existing redevelopment project area established
12prior to August 12, 2016 (the effective date of Public Act
1399-792). In such case: (i) the provisions of this Division
14shall apply with respect to the previously established
15redevelopment project area until the municipality adopts, as
16required in accordance with applicable provisions of this
17Division, an ordinance dissolving the special tax allocation
18fund for such redevelopment project area and terminating the
19designation of such redevelopment project area as a
20redevelopment project area; and (ii) after the effective date
21of the ordinance described in (i), the provisions of this
22Division shall apply with respect to the subsequently
23established redevelopment project area located in a transit
24facility improvement area.
25    (b) The estimated dates of completion of the redevelopment
26project and retirement of obligations issued to finance

 

 

HB2365 Enrolled- 3 -LRB102 10097 AWJ 15418 b

1redevelopment project costs (including refunding bonds under
2Section 11-74.4-7) may not be later than December 31 of the
3year in which the payment to the municipal treasurer as
4provided in subsection (b) of Section 11-74.4-8 of this Act is
5to be made with respect to ad valorem taxes levied in the 32nd
6calendar year after the year in which the ordinance approving
7the redevelopment project area was adopted if the ordinance
8was adopted on September 9, 1999 by the Village of Downs.
9    The estimated dates of completion of the redevelopment
10project and retirement of obligations issued to finance
11redevelopment project costs (including refunding bonds under
12Section 11-74.4-7) may not be later than December 31 of the
13year in which the payment to the municipal treasurer as
14provided in subsection (b) of Section 11-74.4-8 of this Act is
15to be made with respect to ad valorem taxes levied in the 33rd
16calendar year after the year in which the ordinance approving
17the redevelopment project area was adopted if the ordinance
18was adopted on May 20, 1985 by the Village of Wheeling.
19    The estimated dates of completion of the redevelopment
20project and retirement of obligations issued to finance
21redevelopment project costs (including refunding bonds under
22Section 11-74.4-7) may not be later than December 31 of the
23year in which the payment to the municipal treasurer as
24provided in subsection (b) of Section 11-74.4-8 of this Act is
25to be made with respect to ad valorem taxes levied in the 28th
26calendar year after the year in which the ordinance approving

 

 

HB2365 Enrolled- 4 -LRB102 10097 AWJ 15418 b

1the redevelopment project area was adopted if the ordinance
2was adopted on October 12, 1989 by the City of Lawrenceville.
3    (c) The estimated dates of completion of the redevelopment
4project and retirement of obligations issued to finance
5redevelopment project costs (including refunding bonds under
6Section 11-74.4-7) may not be later than December 31 of the
7year in which the payment to the municipal treasurer as
8provided in subsection (b) of Section 11-74.4-8 of this Act is
9to be made with respect to ad valorem taxes levied in the 35th
10calendar year after the year in which the ordinance approving
11the redevelopment project area was adopted:
12        (1) If the ordinance was adopted before January 15,
13    1981.
14        (2) If the ordinance was adopted in December 1983,
15    April 1984, July 1985, or December 1989.
16        (3) If the ordinance was adopted in December 1987 and
17    the redevelopment project is located within one mile of
18    Midway Airport.
19        (4) If the ordinance was adopted before January 1,
20    1987 by a municipality in Mason County.
21        (5) If the municipality is subject to the Local
22    Government Financial Planning and Supervision Act or the
23    Financially Distressed City Law.
24        (6) If the ordinance was adopted in December 1984 by
25    the Village of Rosemont.
26        (7) If the ordinance was adopted on December 31, 1986

 

 

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1    by a municipality located in Clinton County for which at
2    least $250,000 of tax increment bonds were authorized on
3    June 17, 1997, or if the ordinance was adopted on December
4    31, 1986 by a municipality with a population in 1990 of
5    less than 3,600 that is located in a county with a
6    population in 1990 of less than 34,000 and for which at
7    least $250,000 of tax increment bonds were authorized on
8    June 17, 1997.
9        (8) If the ordinance was adopted on October 5, 1982 by
10    the City of Kankakee, or if the ordinance was adopted on
11    December 29, 1986 by East St. Louis.
12        (9) If the ordinance was adopted on November 12, 1991
13    by the Village of Sauget.
14        (10) If the ordinance was adopted on February 11, 1985
15    by the City of Rock Island.
16        (11) If the ordinance was adopted before December 18,
17    1986 by the City of Moline.
18        (12) If the ordinance was adopted in September 1988 by
19    Sauk Village.
20        (13) If the ordinance was adopted in October 1993 by
21    Sauk Village.
22        (14) If the ordinance was adopted on December 29, 1986
23    by the City of Galva.
24        (15) If the ordinance was adopted in March 1991 by the
25    City of Centreville.
26        (16) If the ordinance was adopted on January 23, 1991

 

 

HB2365 Enrolled- 6 -LRB102 10097 AWJ 15418 b

1    by the City of East St. Louis.
2        (17) If the ordinance was adopted on December 22, 1986
3    by the City of Aledo.
4        (18) If the ordinance was adopted on February 5, 1990
5    by the City of Clinton.
6        (19) If the ordinance was adopted on September 6, 1994
7    by the City of Freeport.
8        (20) If the ordinance was adopted on December 22, 1986
9    by the City of Tuscola.
10        (21) If the ordinance was adopted on December 23, 1986
11    by the City of Sparta.
12        (22) If the ordinance was adopted on December 23, 1986
13    by the City of Beardstown.
14        (23) If the ordinance was adopted on April 27, 1981,
15    October 21, 1985, or December 30, 1986 by the City of
16    Belleville.
17        (24) If the ordinance was adopted on December 29, 1986
18    by the City of Collinsville.
19        (25) If the ordinance was adopted on September 14,
20    1994 by the City of Alton.
21        (26) If the ordinance was adopted on November 11, 1996
22    by the City of Lexington.
23        (27) If the ordinance was adopted on November 5, 1984
24    by the City of LeRoy.
25        (28) If the ordinance was adopted on April 3, 1991 or
26    June 3, 1992 by the City of Markham.

 

 

HB2365 Enrolled- 7 -LRB102 10097 AWJ 15418 b

1        (29) If the ordinance was adopted on November 11, 1986
2    by the City of Pekin.
3        (30) If the ordinance was adopted on December 15, 1981
4    by the City of Champaign.
5        (31) If the ordinance was adopted on December 15, 1986
6    by the City of Urbana.
7        (32) If the ordinance was adopted on December 15, 1986
8    by the Village of Heyworth.
9        (33) If the ordinance was adopted on February 24, 1992
10    by the Village of Heyworth.
11        (34) If the ordinance was adopted on March 16, 1995 by
12    the Village of Heyworth.
13        (35) If the ordinance was adopted on December 23, 1986
14    by the Town of Cicero.
15        (36) If the ordinance was adopted on December 30, 1986
16    by the City of Effingham.
17        (37) If the ordinance was adopted on May 9, 1991 by the
18    Village of Tilton.
19        (38) If the ordinance was adopted on October 20, 1986
20    by the City of Elmhurst.
21        (39) If the ordinance was adopted on January 19, 1988
22    by the City of Waukegan.
23        (40) If the ordinance was adopted on September 21,
24    1998 by the City of Waukegan.
25        (41) If the ordinance was adopted on December 31, 1986
26    by the City of Sullivan.

 

 

HB2365 Enrolled- 8 -LRB102 10097 AWJ 15418 b

1        (42) If the ordinance was adopted on December 23, 1991
2    by the City of Sullivan.
3        (43) If the ordinance was adopted on December 31, 1986
4    by the City of Oglesby.
5        (44) If the ordinance was adopted on July 28, 1987 by
6    the City of Marion.
7        (45) If the ordinance was adopted on April 23, 1990 by
8    the City of Marion.
9        (46) If the ordinance was adopted on August 20, 1985
10    by the Village of Mount Prospect.
11        (47) If the ordinance was adopted on February 2, 1998
12    by the Village of Woodhull.
13        (48) If the ordinance was adopted on April 20, 1993 by
14    the Village of Princeville.
15        (49) If the ordinance was adopted on July 1, 1986 by
16    the City of Granite City.
17        (50) If the ordinance was adopted on February 2, 1989
18    by the Village of Lombard.
19        (51) If the ordinance was adopted on December 29, 1986
20    by the Village of Gardner.
21        (52) If the ordinance was adopted on July 14, 1999 by
22    the Village of Paw Paw.
23        (53) If the ordinance was adopted on November 17, 1986
24    by the Village of Franklin Park.
25        (54) If the ordinance was adopted on November 20, 1989
26    by the Village of South Holland.

 

 

HB2365 Enrolled- 9 -LRB102 10097 AWJ 15418 b

1        (55) If the ordinance was adopted on July 14, 1992 by
2    the Village of Riverdale.
3        (56) If the ordinance was adopted on December 29, 1986
4    by the City of Galesburg.
5        (57) If the ordinance was adopted on April 1, 1985 by
6    the City of Galesburg.
7        (58) If the ordinance was adopted on May 21, 1990 by
8    the City of West Chicago.
9        (59) If the ordinance was adopted on December 16, 1986
10    by the City of Oak Forest.
11        (60) If the ordinance was adopted in 1999 by the City
12    of Villa Grove.
13        (61) If the ordinance was adopted on January 13, 1987
14    by the Village of Mt. Zion.
15        (62) If the ordinance was adopted on December 30, 1986
16    by the Village of Manteno.
17        (63) If the ordinance was adopted on April 3, 1989 by
18    the City of Chicago Heights.
19        (64) If the ordinance was adopted on January 6, 1999
20    by the Village of Rosemont.
21        (65) If the ordinance was adopted on December 19, 2000
22    by the Village of Stone Park.
23        (66) If the ordinance was adopted on December 22, 1986
24    by the City of DeKalb.
25        (67) If the ordinance was adopted on December 2, 1986
26    by the City of Aurora.

 

 

HB2365 Enrolled- 10 -LRB102 10097 AWJ 15418 b

1        (68) If the ordinance was adopted on December 31, 1986
2    by the Village of Milan.
3        (69) If the ordinance was adopted on September 8, 1994
4    by the City of West Frankfort.
5        (70) If the ordinance was adopted on December 23, 1986
6    by the Village of Libertyville.
7        (71) If the ordinance was adopted on December 22, 1986
8    by the Village of Hoffman Estates.
9        (72) If the ordinance was adopted on September 17,
10    1986 by the Village of Sherman.
11        (73) If the ordinance was adopted on December 16, 1986
12    by the City of Macomb.
13        (74) If the ordinance was adopted on June 11, 2002 by
14    the City of East Peoria to create the West Washington
15    Street TIF.
16        (75) If the ordinance was adopted on June 11, 2002 by
17    the City of East Peoria to create the Camp Street TIF.
18        (76) If the ordinance was adopted on August 7, 2000 by
19    the City of Des Plaines.
20        (77) If the ordinance was adopted on December 22, 1986
21    by the City of Washington to create the Washington Square
22    TIF #2.
23        (78) If the ordinance was adopted on December 29, 1986
24    by the City of Morris.
25        (79) If the ordinance was adopted on July 6, 1998 by
26    the Village of Steeleville.

 

 

HB2365 Enrolled- 11 -LRB102 10097 AWJ 15418 b

1        (80) If the ordinance was adopted on December 29, 1986
2    by the City of Pontiac to create TIF I (the Main St TIF).
3        (81) If the ordinance was adopted on December 29, 1986
4    by the City of Pontiac to create TIF II (the Interstate
5    TIF).
6        (82) If the ordinance was adopted on November 6, 2002
7    by the City of Chicago to create the Madden/Wells TIF
8    District.
9        (83) If the ordinance was adopted on November 4, 1998
10    by the City of Chicago to create the Roosevelt/Racine TIF
11    District.
12        (84) If the ordinance was adopted on June 10, 1998 by
13    the City of Chicago to create the Stony Island
14    Commercial/Burnside Industrial Corridors TIF District.
15        (85) If the ordinance was adopted on November 29, 1989
16    by the City of Chicago to create the Englewood Mall TIF
17    District.
18        (86) If the ordinance was adopted on December 27, 1986
19    by the City of Mendota.
20        (87) If the ordinance was adopted on December 31, 1986
21    by the Village of Cahokia.
22        (88) If the ordinance was adopted on September 20,
23    1999 by the City of Belleville.
24        (89) If the ordinance was adopted on December 30, 1986
25    by the Village of Bellevue to create the Bellevue TIF
26    District 1.

 

 

HB2365 Enrolled- 12 -LRB102 10097 AWJ 15418 b

1        (90) If the ordinance was adopted on December 13, 1993
2    by the Village of Crete.
3        (91) If the ordinance was adopted on February 12, 2001
4    by the Village of Crete.
5        (92) If the ordinance was adopted on April 23, 2001 by
6    the Village of Crete.
7        (93) If the ordinance was adopted on December 16, 1986
8    by the City of Champaign.
9        (94) If the ordinance was adopted on December 20, 1986
10    by the City of Charleston.
11        (95) If the ordinance was adopted on June 6, 1989 by
12    the Village of Romeoville.
13        (96) If the ordinance was adopted on October 14, 1993
14    and amended on August 2, 2010 by the City of Venice.
15        (97) If the ordinance was adopted on June 1, 1994 by
16    the City of Markham.
17        (98) If the ordinance was adopted on May 19, 1998 by
18    the Village of Bensenville.
19        (99) If the ordinance was adopted on November 12, 1987
20    by the City of Dixon.
21        (100) If the ordinance was adopted on December 20,
22    1988 by the Village of Lansing.
23        (101) If the ordinance was adopted on October 27, 1998
24    by the City of Moline.
25        (102) If the ordinance was adopted on May 21, 1991 by
26    the Village of Glenwood.

 

 

HB2365 Enrolled- 13 -LRB102 10097 AWJ 15418 b

1        (103) If the ordinance was adopted on January 28, 1992
2    by the City of East Peoria.
3        (104) If the ordinance was adopted on December 14,
4    1998 by the City of Carlyle.
5        (105) If the ordinance was adopted on May 17, 2000, as
6    subsequently amended, by the City of Chicago to create the
7    Midwest Redevelopment TIF District.
8        (106) If the ordinance was adopted on September 13,
9    1989 by the City of Chicago to create the Michigan/Cermak
10    Area TIF District.
11        (107) If the ordinance was adopted on March 30, 1992
12    by the Village of Ohio.
13        (108) If the ordinance was adopted on July 6, 1998 by
14    the Village of Orangeville.
15        (109) If the ordinance was adopted on December 16,
16    1997 by the Village of Germantown.
17        (110) If the ordinance was adopted on April 28, 2003
18    by Gibson City.
19        (111) If the ordinance was adopted on December 18,
20    1990 by the Village of Washington Park, but only after the
21    Village of Washington Park becomes compliant with the
22    reporting requirements under subsection (d) of Section
23    11-74.4-5, and after the State Comptroller's certification
24    of such compliance.
25        (112) If the ordinance was adopted on February 28,
26    2000 by the City of Harvey.

 

 

HB2365 Enrolled- 14 -LRB102 10097 AWJ 15418 b

1        (113) If the ordinance was adopted on January 11, 1991
2    by the City of Chicago to create the Read/Dunning TIF
3    District.
4        (114) If the ordinance was adopted on July 24, 1991 by
5    the City of Chicago to create the Sanitary and Ship Canal
6    TIF District.
7        (115) If the ordinance was adopted on December 4, 2007
8    by the City of Naperville.
9        (116) If the ordinance was adopted on July 1, 2002 by
10    the Village of Arlington Heights.
11        (117) If the ordinance was adopted on February 11,
12    1991 by the Village of Machesney Park.
13        (118) If the ordinance was adopted on December 29,
14    1993 by the City of Ottawa.
15        (119) If the ordinance was adopted on June 4, 1991 by
16    the Village of Lansing.
17        (120) If the ordinance was adopted on February 10,
18    2004 by the Village of Fox Lake.
19        (121) If the ordinance was adopted on December 22,
20    1992 by the City of Fairfield.
21        (122) If the ordinance was adopted on February 10,
22    1992 by the City of Mt. Sterling.
23        (123) If the ordinance was adopted on March 15, 2004
24    by the City of Batavia.
25        (124) If the ordinance was adopted on March 18, 2002
26    by the Village of Lake Zurich.

 

 

HB2365 Enrolled- 15 -LRB102 10097 AWJ 15418 b

1        (125) If the ordinance was adopted on September 23,
2    1997 by the City of Granite City.
3        (126) If the ordinance was adopted on May 8, 2013 by
4    the Village of Rosemont to create the Higgins Road/River
5    Road TIF District No. 6.
6        (127) If the ordinance was adopted on November 22,
7    1993 by the City of Arcola.
8        (128) If the ordinance was adopted on September 7,
9    2004 by the City of Arcola.
10        (129) If the ordinance was adopted on November 29,
11    1999 by the City of Paris.
12        (130) If the ordinance was adopted on September 20,
13    1994 by the City of Ottawa to create the U.S. Route 6 East
14    Ottawa TIF.
15        (131) If the ordinance was adopted on May 2, 2002 by
16    the Village of Crestwood.
17        (132) If the ordinance was adopted on October 27, 1992
18    by the City of Blue Island.
19        (133) If the ordinance was adopted on December 23,
20    1993 by the City of Lacon.
21        (134) If the ordinance was adopted on May 4, 1998 by
22    the Village of Bradford.
23        (135) If the ordinance was adopted on June 11, 2002 by
24    the City of Oak Forest.
25        (136) If the ordinance was adopted on November 16,
26    1992 by the City of Pinckneyville.

 

 

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1        (137) If the ordinance was adopted on March 1, 2001 by
2    the Village of South Jacksonville.
3        (138) If the ordinance was adopted on February 26,
4    1992 by the City of Chicago to create the Stockyards
5    Southeast Quadrant TIF District.
6        (139) If the ordinance was adopted on January 25, 1993
7    by the City of LaSalle.
8        (140) If the ordinance was adopted on December 23,
9    1997 by the Village of Dieterich.
10        (141) If the ordinance was adopted on February 10,
11    2016 by the Village of Rosemont to create the
12    Balmoral/Pearl TIF No. 8 Tax Increment Financing
13    Redevelopment Project Area.
14        (142) If the ordinance was adopted on June 11, 2002 by
15    the City of Oak Forest.
16        (143) If the ordinance was adopted on January 31, 1995
17    by the Village of Milledgeville.
18        (144) If the ordinance was adopted on February 5, 1996
19    by the Village of Pearl City.
20        (145) If the ordinance was adopted on December 21,
21    1994 by the City of Calumet City.
22        (146) If the ordinance was adopted on May 5, 2003 by
23    the Town of Normal.
24        (147) If the ordinance was adopted on June 2, 1998 by
25    the City of Litchfield.
26        (148) If the ordinance was adopted on October 23, 1995

 

 

HB2365 Enrolled- 17 -LRB102 10097 AWJ 15418 b

1    by the City of Marion.
2        (149) If the ordinance was adopted on May 24, 2001 by
3    the Village of Hanover Park.
4        (150) If the ordinance was adopted on May 30, 1995 by
5    the Village of Dalzell.
6        (151) If the ordinance was adopted on April 15, 1997
7    by the City of Edwardsville.
8        (152) If the ordinance was adopted on September 5,
9    1995 by the City of Granite City.
10        (153) If the ordinance was adopted on June 21, 1999 by
11    the Village of Table Grove.
12        (154) If the ordinance was adopted on February 23,
13    1995 by the City of Springfield.
14        (155) If the ordinance was adopted on August 11, 1999
15    by the City of Monmouth.
16        (156) If the ordinance was adopted on December 26,
17    1995 by the Village of Posen.
18        (157) If the ordinance was adopted on July 1, 1995 by
19    the Village of Caseyville.
20        (158) If the ordinance was adopted on January 30, 1996
21    by the City of Madison.
22        (159) If the ordinance was adopted on February 2, 1996
23    by the Village of Hartford.
24        (160) If the ordinance was adopted on July 2, 1996 by
25    the Village of Manlius.
26        (161) If the ordinance was adopted on March 21, 2000

 

 

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1    by the City of Hoopeston.
2        (162) If the ordinance was adopted on March 22, 2005
3    by the City of Hoopeston.
4        (163) If the ordinance was adopted on July 10, 1996 by
5    the City of Chicago to create the Goose Island TIF
6    District.
7        (164) If the ordinance was adopted on December 11,
8    1996 by the City of Chicago to create the Bryn
9    Mawr/Broadway TIF District.
10        (165) If the ordinance was adopted on December 31,
11    1995 by the City of Chicago to create the 95th/Western TIF
12    District.
13        (166) If the ordinance was adopted on October 7, 1998
14    by the City of Chicago to create the 71st and Stony Island
15    TIF District.
16        (167) If the ordinance was adopted on April 19, 1995
17    by the Village of North Utica.
18        (168) If the ordinance was adopted on April 22, 1996
19    by the City of LaSalle.
20        (169) If the ordinance was adopted on June 9, 2008 by
21    the City of Country Club Hills.
22        (170) If the ordinance was adopted on July 3, 1996 by
23    the Village of Phoenix.
24        (171) If the ordinance was adopted on May 19, 1997 by
25    the Village of Swansea.
26        (172) If the ordinance was adopted on August 13, 2001

 

 

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1    by the Village of Saunemin.
2        (173) If the ordinance was adopted on January 10, 2005
3    by the Village of Romeoville.
4        (174) If the ordinance was adopted on January 28, 1997
5    by the City of Berwyn for the South Berwyn Corridor Tax
6    Increment Financing District.
7        (175) If the ordinance was adopted on January 28, 1997
8    by the City of Berwyn for the Roosevelt Road Tax Increment
9    Financing District.
10        (176) If the ordinance was adopted on May 3, 2001 by
11    the Village of Hanover Park for the Village Center Tax
12    Increment Financing Redevelopment Project Area (TIF # 3).
13        (177) If the ordinance was adopted on January 1, 1996
14    by the City of Savanna.
15        (178) If the ordinance was adopted on January 28, 2002
16    by the Village of Okawville.
17        (179) If the ordinance was adopted on October 4, 1999
18    by the City of Vandalia.
19        (180) If the ordinance was adopted on June 16, 2003 by
20    the City of Rushville.
21        (181) If the ordinance was adopted on December 7, 1998
22    by the City of Quincy for the Central Business District
23    West Tax Increment Redevelopment Project Area.
24        (182) If the ordinance was adopted on March 27, 1997
25    by the Village of Maywood approving the Roosevelt Road TIF
26    District.

 

 

HB2365 Enrolled- 20 -LRB102 10097 AWJ 15418 b

1        (183) If the ordinance was adopted on March 27, 1997
2    by the Village of Maywood approving the Madison
3    Street/Fifth Avenue TIF District.
4        (184) If the ordinance was adopted on November 10,
5    1997 by the Village of Park Forest.
6        (185) If the ordinance was adopted on July 30, 1997 by
7    the City of Chicago to create the Near North TIF district.
8        (186) If the ordinance was adopted on December 1, 2000
9    by the Village of Mahomet.
10        (187) If the ordinance was adopted on June 16, 1999 by
11    the Village of Washburn.
12        (188) If the ordinance was adopted on August 19, 1998
13    by the Village of New Berlin.
14        (189) If the ordinance was adopted on February 22,
15    2000 by the City of Mount Pulaski.
16    (d) For redevelopment project areas for which bonds were
17issued before July 29, 1991, or for which contracts were
18entered into before June 1, 1988, in connection with a
19redevelopment project in the area within the State Sales Tax
20Boundary, the estimated dates of completion of the
21redevelopment project and retirement of obligations to finance
22redevelopment project costs (including refunding bonds under
23Section 11-74.4-7) may be extended by municipal ordinance to
24December 31, 2013. The termination procedures of subsection
25(b) of Section 11-74.4-8 are not required for these
26redevelopment project areas in 2009 but are required in 2013.

 

 

HB2365 Enrolled- 21 -LRB102 10097 AWJ 15418 b

1The extension allowed by Public Act 87-1272 shall not apply to
2real property tax increment allocation financing under Section
311-74.4-8.
4    (e) Those dates, for purposes of real property tax
5increment allocation financing pursuant to Section 11-74.4-8
6only, shall be not more than 35 years for redevelopment
7project areas that were adopted on or after December 16, 1986
8and for which at least $8 million worth of municipal bonds were
9authorized on or after December 19, 1989 but before January 1,
101990; provided that the municipality elects to extend the life
11of the redevelopment project area to 35 years by the adoption
12of an ordinance after at least 14 but not more than 30 days'
13written notice to the taxing bodies, that would otherwise
14constitute the joint review board for the redevelopment
15project area, before the adoption of the ordinance.
16    (f) Those dates, for purposes of real property tax
17increment allocation financing pursuant to Section 11-74.4-8
18only, shall be not more than 35 years for redevelopment
19project areas that were established on or after December 1,
201981 but before January 1, 1982 and for which at least
21$1,500,000 worth of tax increment revenue bonds were
22authorized on or after September 30, 1990 but before July 1,
231991; provided that the municipality elects to extend the life
24of the redevelopment project area to 35 years by the adoption
25of an ordinance after at least 14 but not more than 30 days'
26written notice to the taxing bodies, that would otherwise

 

 

HB2365 Enrolled- 22 -LRB102 10097 AWJ 15418 b

1constitute the joint review board for the redevelopment
2project area, before the adoption of the ordinance.
3    (f-5) Those dates, for purposes of real property tax
4increment allocation financing pursuant to Section 11-74.4-8
5only, shall be not more than 47 years for redevelopment
6project areas that were established on December 29, 1981 by
7the City of Springfield; provided that (i) the City of
8Springfield adopts an ordinance extending the life of the
9redevelopment project area to 47 years and (ii) the City of
10Springfield provides notice to the taxing bodies that would
11otherwise constitute the joint review board for the
12redevelopment project area not more than 30 and not less than
1314 days prior to the adoption of that ordinance.
14    (g) In consolidating the material relating to completion
15dates from Sections 11-74.4-3 and 11-74.4-7 into this Section,
16it is not the intent of the General Assembly to make any
17substantive change in the law, except for the extension of the
18completion dates for the City of Aurora, the Village of Milan,
19the City of West Frankfort, the Village of Libertyville, and
20the Village of Hoffman Estates set forth under items (67),
21(68), (69), (70), and (71) of subsection (c) of this Section.
22(Source: P.A. 100-201, eff. 8-18-17; 100-214, eff. 8-18-17;
23100-249, eff. 8-22-17; 100-510, eff. 9-15-17; 100-591, eff.
246-21-18; 100-609, eff. 7-17-18; 100-836, eff. 8-13-18;
25100-853, eff. 8-14-18; 100-859, eff. 8-14-18; 100-863, eff.
268-14-18; 100-873, eff. 8-14-18; 100-899, eff. 8-17-18;

 

 

HB2365 Enrolled- 23 -LRB102 10097 AWJ 15418 b

1100-928, eff. 8-17-18; 100-967, eff. 8-19-18; 100-1031, eff.
28-22-18; 100-1032, eff. 8-22-18; 100-1164, eff. 12-27-18;
3101-274, eff. 8-9-19; 101-618, eff. 12-20-19; 101-647, eff.
46-26-20.)
 
5    Section 99. Effective date. This Act takes effect upon
6becoming law.