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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2426 Introduced , by Rep. Allen Skillicorn SYNOPSIS AS INTRODUCED:
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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.
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| | A BILL FOR |
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| | HB2426 | | LRB101 06290 AWJ 51316 b |
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| 1 | | AN ACT concerning government.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Municipal Code is amended by adding |
| 5 | | Section 11-74.4-13 as follows:
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| 6 | | (65 ILCS 5/11-74.4-13 new) |
| 7 | | Sec. 11-74.4-13. Two-year moratorium on new redevelopment |
| 8 | | project areas. |
| 9 | | (a) Notwithstanding any other provision of law, new |
| 10 | | redevelopment project areas may not be established under this |
| 11 | | Act until 2 years after the effective date of this amendatory |
| 12 | | Act of the 101st General Assembly. |
| 13 | | (b) This Section is repealed 2 years after the effective |
| 14 | | date of this amendatory Act of the 101st General Assembly.
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| 15 | | Section 99. Effective date. This Act takes effect upon |
| 16 | | becoming law.
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