Illinois General Assembly - Full Text of Public Act 096-1220
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Public Act 096-1220





Public Act 096-1220
SB3619 EnrolledLRB096 20583 RLJ 36281 b

    AN ACT concerning local 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
changing Section 11-74.6-50 as follows:
    (65 ILCS 5/11-74.6-50)
    Sec. 11-74.6-50. Report; sunset of authority. On or before
the date which is 60 months following the date on which this
amendatory Act of 1994 becomes law, the Department shall submit
to the General Assembly a report detailing the number of
redevelopment project areas that have been established, the
number and type of jobs created or retained therein, the
aggregate amount of tax increment incentives provided, the
aggregate amount of private investment produced therein, the
amount of tax increment revenue produced and available for
expenditure within the tax increment financing districts and
such additional information as the Department may determine to
be relevant.
    On or after January 1, 2012 the date which is 16 years
following the date on which this amendatory Act of 1994 becomes
law the authority granted hereunder to municipalities to
establish redevelopment project areas and to adopt tax
increment allocation financing in connection therewith shall
expire unless the General Assembly shall have authorized
municipalities to continue to exercise said powers.
(Source: P.A. 91-474, eff. 11-1-99.)
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 7/23/2010