Synopsis As Introduced Amends the Illinois Municipal Code. Provides that the imposition of term limits by referendum, ordinance, or otherwise must be prospective. Provides that elective office held prior to the effective date of any term limit imposed by a municipality shall not prohibit a person otherwise eligible from running for or holding elective office in that municipality. Provides that term limits imposed in a manner inconsistent with the applicable provisions are invalid. Provides that these provisions apply to all term limits imposed by a municipality by referendum, ordinance, or otherwise passed on or after November 8, 2016. Limits home rule powers. Effective immediately.