Senate Sponsors: SHAW. Short description: MUN CD-REDVLP-ADD PARCEL-ADJST Synopsis of Bill as introduced: Amends the Illinois Municipal Code. Provides that if a municipality obtains ownership of additional parcels within any redevelopment project area within 2 years of adoption of the ordinance establishing tax increment financing, the municipality's ownership would result in an exemption under the Section of the Property Tax Code concerning taxing district property, and certain other conditions are met, the equalized assessed value of all taxable real property within the redevelopment area shall be adjusted. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status