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Public Act 102-0446 |
HB2826 Enrolled | LRB102 10682 AWJ 16011 b |
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AN ACT concerning local government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Municipal Code is amended by |
changing Section 11-74.4-3.5 as follows:
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(65 ILCS 5/11-74.4-3.5)
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Sec. 11-74.4-3.5. Completion dates for redevelopment |
projects. |
(a) Unless otherwise stated in this Section, the estimated |
dates of completion
of the redevelopment project and |
retirement of obligations issued to finance
redevelopment |
project costs (including refunding bonds under Section |
11-74.4-7) may not be
later than December 31 of the year in |
which the payment to the municipal
treasurer, as provided in |
subsection (b) of Section 11-74.4-8 of this Act, is to
be made |
with respect to ad valorem taxes levied in the 23rd
calendar |
year after the year in which the ordinance approving the
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redevelopment project area was adopted if the ordinance was |
adopted on or after
January 15, 1981. |
(a-5) If the redevelopment project area is located within |
a transit facility improvement area established pursuant to |
Section 11-74.4-3, the estimated dates of completion of the |
redevelopment project and retirement of obligations issued to |
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finance redevelopment project costs (including refunding bonds |
under Section 11-74.4-7) may not be later than December 31 of |
the year in which the payment to the municipal treasurer, as |
provided in subsection (b) of Section 11-74.4-8 of this Act, |
is to be made with respect to ad valorem taxes levied in the |
35th calendar year after the year in which the ordinance |
approving the redevelopment project area was adopted. |
(a-7) A municipality may adopt tax increment financing for |
a redevelopment project area located in a transit facility |
improvement area that also includes real property located |
within an existing redevelopment project area established |
prior to August 12, 2016 (the effective date of Public Act |
99-792). In such case: (i) the provisions of this Division |
shall apply with respect to the previously established |
redevelopment project area until the municipality adopts, as |
required in accordance with applicable provisions of this |
Division, an ordinance dissolving the special tax allocation |
fund for such redevelopment project area and terminating the |
designation of such redevelopment project area as a |
redevelopment project area; and (ii) after the effective date |
of the ordinance described in (i), the provisions of this |
Division shall apply with respect to the subsequently |
established redevelopment project area located in a transit |
facility improvement area. |
(b) The estimated dates of completion of the redevelopment |
project and retirement of obligations issued to finance |
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redevelopment project costs (including refunding bonds under |
Section 11-74.4-7) may not be later than December 31 of the |
year in which the payment to the municipal treasurer as |
provided in subsection (b) of Section 11-74.4-8 of this Act is |
to be made with respect to ad valorem taxes levied in the 32nd |
calendar year after the year in which the ordinance approving |
the redevelopment project area was adopted if the ordinance |
was adopted on September 9, 1999 by the Village of Downs. |
The estimated dates of completion
of the redevelopment |
project and retirement of obligations issued to finance
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redevelopment project costs (including refunding bonds under |
Section 11-74.4-7) may not be later than December 31 of the |
year in which the payment to the municipal
treasurer as |
provided in subsection (b) of Section 11-74.4-8 of this Act is |
to
be made with respect to ad valorem taxes levied in the 33rd |
calendar
year after the year in which the ordinance approving |
the
redevelopment project area was adopted if the ordinance |
was adopted on May 20, 1985 by the Village of Wheeling. |
The estimated dates of completion of the redevelopment |
project and retirement of obligations issued to finance |
redevelopment project costs (including refunding bonds under |
Section 11-74.4-7) may not be later than December 31 of the |
year in which the payment to the municipal treasurer as |
provided in subsection (b) of Section 11-74.4-8 of this Act is |
to be made with respect to ad valorem taxes levied in the 28th |
calendar year after the year in which the ordinance approving |
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the redevelopment project area was adopted if the ordinance |
was adopted on October 12, 1989 by the City of Lawrenceville. |
(c) The estimated dates of completion
of the redevelopment |
project and retirement of obligations issued to finance
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redevelopment project costs (including refunding bonds under |
Section 11-74.4-7) may not be later than December 31 of the |
year in which the payment to the municipal
treasurer as |
provided in subsection (b) of Section 11-74.4-8 of this Act is |
to
be made with respect to ad valorem taxes levied in the 35th |
calendar
year after the year in which the ordinance approving |
the
redevelopment project area was adopted: |
(1) If the ordinance was adopted before January 15, |
1981. |
(2) If the ordinance was adopted in December 1983, |
April 1984, July 1985,
or December 1989. |
(3) If the ordinance was adopted in December 1987 and |
the redevelopment
project is located within one mile of |
Midway Airport. |
(4) If the ordinance was adopted before January 1, |
1987 by a municipality in
Mason County. |
(5) If the municipality is subject to the Local |
Government Financial Planning
and Supervision Act or the |
Financially Distressed City Law. |
(6) If the ordinance was adopted in December 1984 by |
the Village of Rosemont. |
(7) If the ordinance was adopted on December 31, 1986 |
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by a municipality
located in Clinton County for which at |
least $250,000 of tax increment
bonds were authorized on |
June 17, 1997, or if the ordinance was adopted on
December |
31, 1986 by a municipality with a population in 1990 of |
less than
3,600 that is located in a county with a |
population in 1990 of less than
34,000 and for which at |
least $250,000 of tax increment bonds were authorized
on |
June 17, 1997. |
(8) If the ordinance was adopted on October 5, 1982 by |
the City of Kankakee, or if the ordinance was adopted on |
December 29, 1986 by East St. Louis. |
(9) If
the ordinance was adopted on November 12, 1991 |
by the Village of Sauget. |
(10) If the ordinance was
adopted on February 11, 1985 |
by the City of Rock Island. |
(11) If the ordinance was adopted before December 18, |
1986 by the City of
Moline. |
(12) If the ordinance was adopted in September 1988 by |
Sauk Village. |
(13) If the ordinance was adopted in October 1993 by |
Sauk Village. |
(14) If the ordinance was adopted on December 29, 1986 |
by the City of Galva. |
(15) If the ordinance was adopted in March 1991 by the |
City of Centreville. |
(16) If the ordinance was adopted on January 23, 1991
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by the City of East St. Louis. |
(17) If the ordinance was adopted on December 22, 1986 |
by the City of Aledo. |
(18) If the ordinance was adopted on February 5, 1990 |
by the City of Clinton. |
(19) If the ordinance was adopted on September 6, 1994 |
by the City of Freeport. |
(20) If the ordinance was adopted on December 22, 1986 |
by the City of Tuscola. |
(21) If the ordinance was adopted on December 23, 1986 |
by the City of Sparta. |
(22) If the ordinance was adopted on December 23, 1986 |
by the City of
Beardstown. |
(23) If the ordinance was adopted on April 27, 1981, |
October 21, 1985, or
December 30, 1986 by the City of |
Belleville. |
(24) If the ordinance was adopted on December 29, 1986 |
by the City of
Collinsville. |
(25) If the ordinance was adopted on September 14, |
1994 by the
City of Alton. |
(26) If the ordinance was adopted on November 11, 1996 |
by the
City of Lexington. |
(27) If the ordinance was adopted on November 5, 1984 |
by
the City of LeRoy. |
(28) If the ordinance was adopted on April 3, 1991 or
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June 3, 1992 by the City of Markham. |
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(29) If the ordinance was adopted on November 11, 1986 |
by the City of Pekin. |
(30) If the ordinance was adopted on December 15, 1981 |
by the City of Champaign. |
(31) If the ordinance was adopted on December 15, 1986 |
by the City of Urbana. |
(32) If the ordinance was adopted on December 15, 1986 |
by the Village of Heyworth. |
(33) If the ordinance was adopted on February 24, 1992 |
by the Village of Heyworth. |
(34) If the ordinance was adopted on March 16, 1995 by |
the Village of Heyworth. |
(35) If the ordinance was adopted on December 23, 1986 |
by the Town of Cicero. |
(36) If the ordinance was adopted on December 30, 1986 |
by the City of Effingham. |
(37) If the ordinance was adopted on May 9, 1991 by the |
Village of
Tilton. |
(38) If the ordinance was adopted on October 20, 1986 |
by the City of Elmhurst. |
(39) If the ordinance was adopted on January 19, 1988 |
by the City of
Waukegan. |
(40) If the ordinance was adopted on September 21, |
1998 by the City of
Waukegan. |
(41) If the ordinance was adopted on December 31, 1986 |
by the City of Sullivan. |
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(42) If the ordinance was adopted on December 23, 1991 |
by the City of Sullivan. |
(43) If the ordinance was adopted on December 31, 1986 |
by the City of Oglesby. |
(44) If the ordinance was adopted on July 28, 1987 by |
the City of Marion. |
(45) If the ordinance was adopted on April 23, 1990 by |
the City of Marion. |
(46) If the ordinance was adopted on August 20, 1985 |
by the Village of Mount Prospect. |
(47) If the ordinance was adopted on February 2, 1998 |
by the Village of Woodhull. |
(48) If the ordinance was adopted on April 20, 1993 by |
the Village of Princeville. |
(49) If the ordinance was adopted on July 1, 1986 by |
the City of Granite City. |
(50) If the ordinance was adopted on February 2, 1989 |
by the Village of Lombard. |
(51) If the ordinance was adopted on December 29, 1986 |
by the Village of Gardner. |
(52) If the ordinance was adopted on July 14, 1999 by |
the Village of Paw Paw. |
(53) If the ordinance was adopted on November 17, 1986 |
by the Village of Franklin Park. |
(54) If the ordinance was adopted on November 20, 1989 |
by the Village of South Holland. |
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(55) If the ordinance was adopted on July 14, 1992 by |
the Village of Riverdale. |
(56) If the ordinance was adopted on December 29, 1986 |
by the City of Galesburg. |
(57) If the ordinance was adopted on April 1, 1985 by |
the City of Galesburg. |
(58) If the ordinance was adopted on May 21, 1990 by |
the City of West Chicago. |
(59) If the ordinance was adopted on December 16, 1986 |
by the City of Oak Forest. |
(60) If the ordinance was adopted in 1999 by the City |
of Villa Grove. |
(61) If the ordinance was adopted on January 13, 1987 |
by the Village of Mt. Zion. |
(62) If the ordinance was adopted on December 30, 1986 |
by the Village of Manteno. |
(63) If the ordinance was adopted on April 3, 1989 by |
the City of Chicago Heights. |
(64) If the ordinance was adopted on January 6, 1999 |
by the Village of Rosemont. |
(65) If the ordinance was adopted on December 19, 2000 |
by the Village of Stone Park. |
(66) If the ordinance was adopted on December 22, 1986 |
by the City of DeKalb. |
(67) If the ordinance was adopted on December 2, 1986 |
by the City of Aurora.
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(68) If the ordinance was adopted on December 31, 1986 |
by the Village of Milan. |
(69) If the ordinance was adopted on September 8, 1994 |
by the City of West Frankfort. |
(70) If the ordinance was adopted on December 23, 1986 |
by the Village of Libertyville. |
(71) If the ordinance was adopted on December 22, 1986 |
by the Village of Hoffman Estates.
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(72) If the ordinance was adopted on September 17, |
1986 by the Village of Sherman.
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(73) If the ordinance was adopted on December 16, 1986 |
by the City of Macomb. |
(74) If the ordinance was adopted on June 11, 2002 by |
the City of East Peoria to create the West Washington |
Street TIF. |
(75) If the ordinance was adopted on June 11, 2002 by |
the City of East Peoria to create the Camp Street TIF.
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(76) If the ordinance was adopted on August 7, 2000 by |
the City of Des Plaines. |
(77) If the ordinance was adopted on December 22, 1986 |
by the City of Washington to create the Washington Square |
TIF #2. |
(78) If the ordinance was adopted on December 29, 1986 |
by the City of Morris.
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(79) If the ordinance was adopted on July 6, 1998 by |
the Village of Steeleville. |
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(80) If the ordinance was adopted on December 29, 1986 |
by the City of Pontiac to create TIF I (the Main St TIF). |
(81) If the ordinance was adopted on December 29, 1986 |
by the City of Pontiac to create TIF II (the Interstate |
TIF). |
(82) If the ordinance was adopted on November 6, 2002 |
by the City of Chicago to create the Madden/Wells TIF |
District. |
(83) If the ordinance was adopted on November 4, 1998 |
by the City of Chicago to create the Roosevelt/Racine TIF |
District. |
(84) If the ordinance was adopted on June 10, 1998 by |
the City of Chicago to create the Stony Island |
Commercial/Burnside Industrial Corridors TIF District. |
(85) If the ordinance was adopted on November 29, 1989 |
by the City of Chicago to create the Englewood Mall TIF |
District. |
(86) If the ordinance was adopted on December 27, 1986 |
by the City of Mendota. |
(87) If the ordinance was adopted on December 31, 1986 |
by the Village of Cahokia. |
(88) If the ordinance was adopted on September 20, |
1999 by the City of Belleville. |
(89) If the ordinance was adopted on December 30, 1986 |
by the Village of Bellevue to create the Bellevue TIF |
District 1. |
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(90) If the ordinance was adopted on December 13, 1993 |
by the Village of Crete. |
(91) If the ordinance was adopted on February 12, 2001 |
by the Village of Crete. |
(92) If the ordinance was adopted on April 23, 2001 by |
the Village of Crete. |
(93) If the ordinance was adopted on December 16, 1986 |
by the City of Champaign. |
(94) If the ordinance was adopted on December 20, 1986 |
by the City of Charleston. |
(95) If the ordinance was adopted on June 6, 1989 by |
the Village of Romeoville. |
(96) If the ordinance was adopted on October 14, 1993 |
and amended on August 2, 2010 by the City of Venice. |
(97) If the ordinance was adopted on June 1, 1994 by |
the City of Markham. |
(98) If the ordinance was adopted on May 19, 1998 by |
the Village of Bensenville. |
(99) If the ordinance was adopted on November 12, 1987 |
by the City of Dixon. |
(100) If the ordinance was adopted on December 20, |
1988 by the Village of Lansing. |
(101) If the ordinance was adopted on October 27, 1998 |
by the City of Moline. |
(102) If the ordinance was adopted on May 21, 1991 by |
the Village of Glenwood. |
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(103) If the ordinance was adopted on January 28, 1992 |
by the City of East Peoria. |
(104) If the ordinance was adopted on December 14, |
1998 by the City of Carlyle. |
(105) If the ordinance was adopted on May 17, 2000, as |
subsequently amended, by the City of Chicago to create the |
Midwest Redevelopment TIF District. |
(106) If the ordinance was adopted on September 13, |
1989 by the City of Chicago to create the Michigan/Cermak |
Area TIF District. |
(107) If the ordinance was adopted on March 30, 1992 |
by the Village of Ohio. |
(108) If the ordinance was adopted on July 6, 1998 by |
the Village of Orangeville. |
(109) If the ordinance was adopted on December 16, |
1997 by the Village of Germantown. |
(110) If the ordinance was adopted on April 28, 2003 |
by Gibson City. |
(111) If the ordinance was adopted on December 18, |
1990 by the Village of Washington Park, but only after the |
Village of Washington Park becomes compliant with the |
reporting requirements under subsection (d) of Section |
11-74.4-5, and after the State Comptroller's certification |
of such compliance. |
(112) If the ordinance was adopted on February 28, |
2000 by the City of Harvey. |
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(113) If the ordinance was adopted on January 11, 1991 |
by the City of Chicago to create the Read/Dunning TIF |
District. |
(114) If the ordinance was adopted on July 24, 1991 by |
the City of Chicago to create the Sanitary and Ship Canal |
TIF District. |
(115) If the ordinance was adopted on December 4, 2007 |
by the City of Naperville. |
(116) If the ordinance was adopted on July 1, 2002 by |
the Village of Arlington Heights. |
(117) If the ordinance was adopted on February 11, |
1991 by the Village of Machesney Park. |
(118) If the ordinance was adopted on December 29, |
1993 by the City of Ottawa. |
(119) If the ordinance was adopted on June 4, 1991 by |
the Village of Lansing. |
(120) If the ordinance was adopted on February 10, |
2004 by the Village of Fox Lake. |
(121) If the ordinance was adopted on December 22, |
1992 by the City of Fairfield. |
(122) If the ordinance was adopted on February 10, |
1992 by the City of Mt. Sterling. |
(123) If the ordinance was adopted on March 15, 2004 |
by the City of Batavia. |
(124) If the ordinance was adopted on March 18, 2002 |
by the Village of Lake Zurich. |
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(125) If the ordinance was adopted on September 23, |
1997 by the City of Granite City. |
(126) If the ordinance was adopted on May 8, 2013 by |
the Village of Rosemont to create the Higgins Road/River |
Road TIF District No. 6. |
(127) If the ordinance was adopted on November 22, |
1993 by the City of Arcola. |
(128) If the ordinance was adopted on September 7, |
2004 by the City of Arcola. |
(129) If the ordinance was adopted on November 29, |
1999 by the City of Paris. |
(130) If the ordinance was adopted on September 20, |
1994 by the City of Ottawa to create the U.S. Route 6 East |
Ottawa TIF. |
(131) If the ordinance was adopted on May 2, 2002 by |
the Village of Crestwood. |
(132) If the ordinance was adopted on October 27, 1992 |
by the City of Blue Island. |
(133) If the ordinance was adopted on December 23, |
1993 by the City of Lacon. |
(134) If the ordinance was adopted on May 4, 1998 by |
the Village of Bradford. |
(135) If the ordinance was adopted on June 11, 2002 by |
the City of Oak Forest. |
(136) If the ordinance was adopted on November 16, |
1992 by the City of Pinckneyville. |
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(137) If the ordinance was adopted on March 1, 2001 by |
the Village of South Jacksonville. |
(138) If the ordinance was adopted on February 26, |
1992 by the City of Chicago to create the Stockyards |
Southeast Quadrant TIF District. |
(139) If the ordinance was adopted on January 25, 1993 |
by the City of LaSalle. |
(140) If the ordinance was adopted on December 23, |
1997 by the Village of Dieterich. |
(141) If the ordinance was adopted on February 10, |
2016 by the Village of Rosemont to create the |
Balmoral/Pearl TIF No. 8 Tax Increment Financing |
Redevelopment Project Area. |
(142) If the ordinance was adopted on June 11, 2002 by |
the City of Oak Forest. |
(143) If the ordinance was adopted on January 31, 1995 |
by the Village of Milledgeville. |
(144) If the ordinance was adopted on February 5, 1996 |
by the Village of Pearl City. |
(145) If the ordinance was adopted on December 21, |
1994 by the City of Calumet City. |
(146) If the ordinance was adopted on May 5, 2003 by |
the Town of Normal. |
(147) If the ordinance was adopted on June 2, 1998 by |
the City of Litchfield. |
(148) If the ordinance was adopted on October 23, 1995 |
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by the City of Marion. |
(149) If the ordinance was adopted on May 24, 2001 by |
the Village of Hanover Park. |
(150) If the ordinance was adopted on May 30, 1995 by |
the Village of Dalzell. |
(151) If the ordinance was adopted on April 15, 1997 |
by the City of Edwardsville. |
(152) If the ordinance was adopted on September 5, |
1995 by the City of Granite City. |
(153) If the ordinance was adopted on June 21, 1999 by |
the Village of Table Grove. |
(154) If the ordinance was adopted on February 23, |
1995 by the City of Springfield. |
(155) If the ordinance was adopted on August 11, 1999 |
by the City of Monmouth. |
(156) If the ordinance was adopted on December 26, |
1995 by the Village of Posen. |
(157) If the ordinance was adopted on July 1, 1995 by |
the Village of Caseyville. |
(158) If the ordinance was adopted on January 30, 1996 |
by the City of Madison. |
(159) If the ordinance was adopted on February 2, 1996 |
by the Village of Hartford. |
(160) If the ordinance was adopted on July 2, 1996 by |
the Village of Manlius. |
(161) If the ordinance was adopted on March 21, 2000 |
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by the City of Hoopeston. |
(162) If the ordinance was adopted on March 22, 2005 |
by the City of Hoopeston. |
(163) If the ordinance was adopted on July 10, 1996 by |
the City of Chicago to create the Goose Island TIF |
District. |
(164) If the ordinance was adopted on December 11, |
1996 by the City of Chicago to create the Bryn |
Mawr/Broadway TIF District. |
(165) If the ordinance was adopted on December 31, |
1995 by the City of Chicago to create the 95th/Western TIF |
District. |
(166) If the ordinance was adopted on October 7, 1998 |
by the City of Chicago to create the 71st and Stony Island |
TIF District. |
(167) If the ordinance was adopted on April 19, 1995 |
by the Village of North Utica. |
(168) If the ordinance was adopted on April 22, 1996 |
by the City of LaSalle. |
(169) If the ordinance was adopted on June 9, 2008 by |
the City of Country Club Hills. |
(170) If the ordinance was adopted on July 3, 1996 by |
the Village of Phoenix. |
(171) If the ordinance was adopted on May 19, 1997 by |
the Village of Swansea. |
(172) If the ordinance was adopted on August 13, 2001 |
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by the Village of Saunemin. |
(173) If the ordinance was adopted on January 10, 2005 |
by the Village of Romeoville. |
(174) If the ordinance was adopted on January 28, 1997 |
by the City of Berwyn for the South Berwyn Corridor Tax |
Increment Financing District. |
(175) If the ordinance was adopted on January 28, 1997 |
by the City of Berwyn for the Roosevelt Road Tax Increment |
Financing District. |
(176) If the ordinance was adopted on May 3, 2001 by |
the Village of Hanover Park for the Village Center Tax |
Increment Financing Redevelopment Project Area (TIF # 3). |
(177) If the ordinance was adopted on January 1, 1996 |
by the City of Savanna. |
(178) If the ordinance was adopted on January 28, 2002 |
by the Village of Okawville. |
(179) If the ordinance was adopted on October 4, 1999 |
by the City of Vandalia. |
(180) If the ordinance was adopted on June 16, 2003 by |
the City of Rushville. |
(181) If the ordinance was adopted on December 7, 1998 |
by the City of Quincy for the Central Business District |
West Tax Increment Redevelopment Project Area. |
(182) If the ordinance was adopted on March 27, 1997 |
by the Village of Maywood approving the Roosevelt Road TIF |
District. |
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(183) If the ordinance was adopted on March 27, 1997 |
by the Village of Maywood approving the Madison |
Street/Fifth Avenue TIF District. |
(184) If the ordinance was adopted on November 10, |
1997 by the Village of Park Forest. |
(185) If the ordinance was adopted on July 30, 1997 by |
the City of Chicago to create the Near North TIF district. |
(186) If the ordinance was adopted on December 1, 2000 |
by the Village of Mahomet. |
(187) If the ordinance was adopted on June 16, 1999 by |
the Village of Washburn. |
(188) If the ordinance was adopted on August 19, 1998 |
by the Village of New Berlin. |
(d) For redevelopment project areas for which bonds were |
issued before
July 29, 1991, or for which contracts were |
entered into before June 1,
1988, in connection with a |
redevelopment project in the area within
the State Sales Tax |
Boundary, the estimated dates of completion of the
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redevelopment project and retirement of obligations to finance |
redevelopment
project costs (including refunding bonds under |
Section 11-74.4-7) may be extended by municipal ordinance to |
December 31, 2013.
The termination procedures of subsection |
(b) of Section 11-74.4-8 are not
required for
these |
redevelopment project areas in 2009 but are required in 2013.
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The extension allowed by Public Act 87-1272 shall not apply to |
real
property tax increment allocation financing under Section |
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11-74.4-8. |
(e) Those dates, for purposes of real property tax |
increment allocation
financing pursuant to Section 11-74.4-8 |
only, shall be not more than 35 years
for redevelopment |
project areas that were adopted on or after December 16,
1986 |
and for which at least $8 million worth of municipal bonds were |
authorized
on or after December 19, 1989 but before January 1, |
1990; provided that the
municipality elects to extend the life |
of the redevelopment project area to 35
years by the adoption |
of an ordinance after at least 14 but not more than 30
days' |
written notice to the taxing bodies, that would otherwise |
constitute the
joint review board for the redevelopment |
project area, before the adoption of
the ordinance. |
(f) Those dates, for purposes of real property tax |
increment allocation
financing pursuant to Section 11-74.4-8 |
only, shall be not more than 35 years
for redevelopment |
project areas that were established on or after December 1,
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1981 but before January 1, 1982 and for which at least |
$1,500,000 worth of
tax increment revenue bonds were |
authorized
on or after September 30, 1990 but before July 1, |
1991; provided that the
municipality elects to extend the life |
of the redevelopment project area to 35
years by the adoption |
of an ordinance after at least 14 but not more than 30
days' |
written notice to the taxing bodies, that would otherwise |
constitute the
joint review board for the redevelopment |
project area, before the adoption of
the ordinance. |
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(f-3) Those dates, for purposes of real property tax |
increment allocation financing pursuant to Section 11-74.4-8 |
only, shall be not more than 47 years for the redevelopment |
project area that was established on December 22, 1986 by the |
City of Washington creating the Washington Square TIF #2; |
provided that (i) the City of Washington adopts an ordinance |
extending the life of the redevelopment project area to 47 |
years and (ii) the City of Washington provides notice to the |
taxing bodies that would otherwise constitute the joint review |
board for the redevelopment project area not more than 30 and |
not less than 14 days prior to the adoption of that ordinance. |
(f-5) Those dates, for purposes of real property tax |
increment allocation financing pursuant to Section 11-74.4-8 |
only, shall be not more than 47 years for redevelopment |
project areas that were established on December 29, 1981 by |
the City of Springfield; provided that (i) the City of |
Springfield adopts an ordinance extending the life of the |
redevelopment project area to 47 years and (ii) the City of |
Springfield provides notice to the taxing bodies that would |
otherwise constitute the joint review board for the |
redevelopment project area not more than 30 and not less than |
14 days prior to the adoption of that ordinance. |
(g) In consolidating the material relating to completion |
dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, |
it is not the intent of the General Assembly to make any |
substantive change in the law, except for the extension of the |
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completion dates for the City of Aurora, the Village of Milan,
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the City of West Frankfort, the Village of Libertyville, and |
the Village of Hoffman Estates set forth under items (67),
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(68), (69), (70), and (71) of subsection (c) of this Section. |
(Source: P.A. 100-201, eff. 8-18-17; 100-214, eff. 8-18-17; |
100-249, eff. 8-22-17; 100-510, eff. 9-15-17; 100-591, eff. |
6-21-18; 100-609, eff. 7-17-18; 100-836, eff. 8-13-18; |
100-853, eff. 8-14-18; 100-859, eff. 8-14-18; 100-863, eff. |
8-14-18; 100-873, eff. 8-14-18; 100-899, eff. 8-17-18; |
100-928, eff. 8-17-18; 100-967, eff. 8-19-18; 100-1031, eff. |
8-22-18; 100-1032, eff. 8-22-18; 100-1164, eff. 12-27-18; |
101-274, eff. 8-9-19; 101-618, eff. 12-20-19; 101-647, eff. |
6-26-20.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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