HB1086 Engrossed LRB096 04426 RLJ 14477 b

1     AN ACT concerning local government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Municipal Code is amended by
5 changing 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
8 projects.
9     (a) Unless otherwise stated in this Section, the estimated
10 dates of completion of the redevelopment project and retirement
11 of obligations issued to finance redevelopment project costs
12 (including refunding bonds under Section 11-74.4-7) may not be
13 later than December 31 of the year in which the payment to the
14 municipal treasurer, as provided in subsection (b) of Section
15 11-74.4-8 of this Act, is to be made with respect to ad valorem
16 taxes levied in the 23rd calendar year after the year in which
17 the ordinance approving the redevelopment project area was
18 adopted if the ordinance was adopted on or after January 15,
19 1981.
20     (b) The estimated dates of completion of the redevelopment
21 project and retirement of obligations issued to finance
22 redevelopment project costs (including refunding bonds under
23 Section 11-74.4-7) may not be later than December 31 of the

 

 

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1 year in which the payment to the municipal treasurer as
2 provided in subsection (b) of Section 11-74.4-8 of this Act is
3 to be made with respect to ad valorem taxes levied in the 33rd
4 calendar year after the year in which the ordinance approving
5 the redevelopment project area was adopted, if the ordinance
6 was adopted on May 20, 1985 by the Village of Wheeling.
7     (c) The estimated dates of completion of the redevelopment
8 project and retirement of obligations issued to finance
9 redevelopment project costs (including refunding bonds under
10 Section 11-74.4-7) may not be later than December 31 of the
11 year in which the payment to the municipal treasurer as
12 provided in subsection (b) of Section 11-74.4-8 of this Act is
13 to be made with respect to ad valorem taxes levied in the 35th
14 calendar year after the year in which the ordinance approving
15 the redevelopment project area was adopted:
16         (1) if the ordinance was adopted before January 15,
17     1981;
18         (2) if the ordinance was adopted in December 1983,
19     April 1984, July 1985, or December 1989;
20         (3) if the ordinance was adopted in December 1987 and
21     the redevelopment project is located within one mile of
22     Midway Airport;
23         (4) if the ordinance was adopted before January 1, 1987
24     by a municipality in Mason County;
25         (5) if the municipality is subject to the Local
26     Government Financial Planning and Supervision Act or the

 

 

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1     Financially Distressed City Law;
2         (6) if the ordinance was adopted in December 1984 by
3     the Village of Rosemont;
4         (7) if the ordinance was adopted on December 31, 1986
5     by a municipality located in Clinton County for which at
6     least $250,000 of tax increment bonds were authorized on
7     June 17, 1997, or if the ordinance was adopted on December
8     31, 1986 by a municipality with a population in 1990 of
9     less than 3,600 that is located in a county with a
10     population in 1990 of less than 34,000 and for which at
11     least $250,000 of tax increment bonds were authorized on
12     June 17, 1997;
13         (8) if the ordinance was adopted on October 5, 1982 by
14     the City of Kankakee, or if the ordinance was adopted on
15     December 29, 1986 by East St. Louis;
16         (9) if the ordinance was adopted on November 12, 1991
17     by the Village of Sauget;
18         (10) if the ordinance was adopted on February 11, 1985
19     by the City of Rock Island;
20         (11) if the ordinance was adopted before December 18,
21     1986 by the City of Moline;
22         (12) if the ordinance was adopted in September 1988 by
23     Sauk Village;
24         (13) if the ordinance was adopted in October 1993 by
25     Sauk Village;
26         (14) if the ordinance was adopted on December 29, 1986

 

 

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

 

 

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1         (27) if the ordinance was adopted on November 5, 1984
2     by the City of LeRoy;
3         (28) if the ordinance was adopted on April 3, 1991 or
4     June 3, 1992 by the City of Markham;
5         (29) if the ordinance was adopted on November 11, 1986
6     by the City of Pekin;
7         (30) if the ordinance was adopted on December 15, 1981
8     by the City of Champaign;
9         (31) if the ordinance was adopted on December 15, 1986
10     by the City of Urbana;
11         (32) if the ordinance was adopted on December 15, 1986
12     by the Village of Heyworth;
13         (33) if the ordinance was adopted on February 24, 1992
14     by the Village of Heyworth;
15         (34) if the ordinance was adopted on March 16, 1995 by
16     the Village of Heyworth;
17         (35) if the ordinance was adopted on December 23, 1986
18     by the Town of Cicero;
19         (36) if the ordinance was adopted on December 30, 1986
20     by the City of Effingham;
21         (37) if the ordinance was adopted on May 9, 1991 by the
22     Village of Tilton;
23         (38) if the ordinance was adopted on October 20, 1986
24     by the City of Elmhurst;
25         (39) if the ordinance was adopted on January 19, 1988
26     by the City of Waukegan;

 

 

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

 

 

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

 

 

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1         (66) if the ordinance was adopted on December 22, 1986
2     by the City of DeKalb; or
3         (67) if the ordinance was adopted on December 2, 1986
4     by the City of Aurora; .
5         (68) (67) if the ordinance was adopted on December 31,
6     1986 by the Village of Milan; or
7         (69) (68) if the ordinance was adopted on September 8,
8     1994 by the City of West Frankfort; .
9         (70) if the ordinance was adopted on December 23, 1986
10     by the Village of Libertyville; or
11         (71) if the ordinance was adopted on July 6, 1998 by
12     the Village of Steeleville.
13     (d) For redevelopment project areas for which bonds were
14 issued before July 29, 1991, or for which contracts were
15 entered into before June 1, 1988, in connection with a
16 redevelopment project in the area within the State Sales Tax
17 Boundary, the estimated dates of completion of the
18 redevelopment project and retirement of obligations to finance
19 redevelopment project costs (including refunding bonds under
20 Section 11-74.4-7) may be extended by municipal ordinance to
21 December 31, 2013. The termination procedures of subsection (b)
22 of Section 11-74.4-8 are not required for these redevelopment
23 project areas in 2009 but are required in 2013. The extension
24 allowed by Public Act 87-1272 shall not apply to real property
25 tax increment allocation financing under Section 11-74.4-8.
26     (e) Those dates, for purposes of real property tax

 

 

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1 increment allocation financing pursuant to Section 11-74.4-8
2 only, shall be not more than 35 years for redevelopment project
3 areas that were adopted on or after December 16, 1986 and for
4 which at least $8 million worth of municipal bonds were
5 authorized on or after December 19, 1989 but before January 1,
6 1990; provided that the municipality elects to extend the life
7 of the redevelopment project area to 35 years by the adoption
8 of an ordinance after at least 14 but not more than 30 days'
9 written notice to the taxing bodies, that would otherwise
10 constitute the joint review board for the redevelopment project
11 area, before the adoption of the ordinance.
12     (f) Those dates, for purposes of real property tax
13 increment allocation financing pursuant to Section 11-74.4-8
14 only, shall be not more than 35 years for redevelopment project
15 areas that were established on or after December 1, 1981 but
16 before January 1, 1982 and for which at least $1,500,000 worth
17 of tax increment revenue bonds were authorized on or after
18 September 30, 1990 but before July 1, 1991; provided that the
19 municipality elects to extend the life of the redevelopment
20 project area to 35 years by the adoption of an ordinance after
21 at least 14 but not more than 30 days' written notice to the
22 taxing bodies, that would otherwise constitute the joint review
23 board for the redevelopment project area, before the adoption
24 of the ordinance.
25     (g) In consolidating the material relating to completion
26 dates from Sections 11-74.4-3 and 11-74.4-7 into this Section,

 

 

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1 it is not the intent of the 95th General Assembly to make any
2 substantive change in the law, except for the extension of the
3 completion dates date for the City of Aurora, the Village of
4 Milan, and the City of West Frankfort, and the Village of
5 Libertyville set forth under items item (67), and (68), (69),
6 and (70) of subsection (c) of this Section.
7 (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08;
8 incorporates P.A. 95-777, eff. 9-22-08; revised 10-14-08.)
 
9     Section 99. Effective date. This Act takes effect upon
10 becoming law.