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Full Text of SB2052  101st General Assembly

SB2052ham004 101ST GENERAL ASSEMBLY

Rep. Emanuel Chris Welch

Filed: 5/21/2020

 

 


 

 


 
10100SB2052ham004LRB101 09907 AWJ 72320 a

1
AMENDMENT TO SENATE BILL 2052

2    AMENDMENT NO. ______. Amend Senate Bill 2052 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Municipal Code is amended by
5changing 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
8projects.
9    (a) Unless otherwise stated in this Section, the estimated
10dates of completion of the redevelopment project and retirement
11of obligations issued to finance redevelopment project costs
12(including refunding bonds under Section 11-74.4-7) may not be
13later than December 31 of the year in which the payment to the
14municipal treasurer, as provided in subsection (b) of Section
1511-74.4-8 of this Act, is to be made with respect to ad valorem
16taxes levied in the 23rd calendar year after the year in which

 

 

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1the ordinance approving the redevelopment project area was
2adopted if the ordinance was adopted on or after January 15,
31981.
4    (a-5) If the redevelopment project area is located within a
5transit facility improvement area established pursuant to
6Section 11-74.4-3, the estimated dates of completion of the
7redevelopment project and retirement of obligations issued to
8finance redevelopment project costs (including refunding bonds
9under Section 11-74.4-7) may not be later than December 31 of
10the year in which the payment to the municipal treasurer, as
11provided in subsection (b) of Section 11-74.4-8 of this Act, is
12to be made with respect to ad valorem taxes levied in the 35th
13calendar year after the year in which the ordinance approving
14the redevelopment project area was adopted.
15    (a-7) A municipality may adopt tax increment financing for
16a redevelopment project area located in a transit facility
17improvement area that also includes real property located
18within an existing redevelopment project area established
19prior to August 12, 2016 (the effective date of Public Act
2099-792). In such case: (i) the provisions of this Division
21shall apply with respect to the previously established
22redevelopment project area until the municipality adopts, as
23required in accordance with applicable provisions of this
24Division, an ordinance dissolving the special tax allocation
25fund for such redevelopment project area and terminating the
26designation of such redevelopment project area as a

 

 

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1redevelopment project area; and (ii) after the effective date
2of the ordinance described in (i), the provisions of this
3Division shall apply with respect to the subsequently
4established redevelopment project area located in a transit
5facility improvement area.
6    (b) The estimated dates of completion of the redevelopment
7project and retirement of obligations issued to finance
8redevelopment project costs (including refunding bonds under
9Section 11-74.4-7) may not be later than December 31 of the
10year in which the payment to the municipal treasurer as
11provided in subsection (b) of Section 11-74.4-8 of this Act is
12to be made with respect to ad valorem taxes levied in the 32nd
13calendar year after the year in which the ordinance approving
14the redevelopment project area was adopted if the ordinance was
15adopted on September 9, 1999 by the Village of Downs.
16    The estimated dates of completion of the redevelopment
17project and retirement of obligations issued to finance
18redevelopment project costs (including refunding bonds under
19Section 11-74.4-7) may not be later than December 31 of the
20year in which the payment to the municipal treasurer as
21provided in subsection (b) of Section 11-74.4-8 of this Act is
22to be made with respect to ad valorem taxes levied in the 33rd
23calendar year after the year in which the ordinance approving
24the redevelopment project area was adopted if the ordinance was
25adopted on May 20, 1985 by the Village of Wheeling.
26    The estimated dates of completion of the redevelopment

 

 

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1project and retirement of obligations issued to finance
2redevelopment project costs (including refunding bonds under
3Section 11-74.4-7) may not be later than December 31 of the
4year in which the payment to the municipal treasurer as
5provided in subsection (b) of Section 11-74.4-8 of this Act is
6to be made with respect to ad valorem taxes levied in the 28th
7calendar year after the year in which the ordinance approving
8the redevelopment project area was adopted if the ordinance was
9adopted on October 12, 1989 by the City of Lawrenceville.
10    (c) The estimated dates of completion of the redevelopment
11project and retirement of obligations issued to finance
12redevelopment project costs (including refunding bonds under
13Section 11-74.4-7) may not be later than December 31 of the
14year in which the payment to the municipal treasurer as
15provided in subsection (b) of Section 11-74.4-8 of this Act is
16to be made with respect to ad valorem taxes levied in the 35th
17calendar year after the year in which the ordinance approving
18the redevelopment project area was adopted:
19        (1) If the ordinance was adopted before January 15,
20    1981.
21        (2) If the ordinance was adopted in December 1983,
22    April 1984, July 1985, or December 1989.
23        (3) If the ordinance was adopted in December 1987 and
24    the redevelopment project is located within one mile of
25    Midway Airport.
26        (4) If the ordinance was adopted before January 1, 1987

 

 

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

 

 

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1        (13) If the ordinance was adopted in October 1993 by
2    Sauk Village.
3        (14) If the ordinance was adopted on December 29, 1986
4    by the City of Galva.
5        (15) If the ordinance was adopted in March 1991 by the
6    City of Centreville.
7        (16) If the ordinance was adopted on January 23, 1991
8    by the City of East St. Louis.
9        (17) If the ordinance was adopted on December 22, 1986
10    by the City of Aledo.
11        (18) If the ordinance was adopted on February 5, 1990
12    by the City of Clinton.
13        (19) If the ordinance was adopted on September 6, 1994
14    by the City of Freeport.
15        (20) If the ordinance was adopted on December 22, 1986
16    by the City of Tuscola.
17        (21) If the ordinance was adopted on December 23, 1986
18    by the City of Sparta.
19        (22) If the ordinance was adopted on December 23, 1986
20    by the City of Beardstown.
21        (23) If the ordinance was adopted on April 27, 1981,
22    October 21, 1985, or December 30, 1986 by the City of
23    Belleville.
24        (24) If the ordinance was adopted on December 29, 1986
25    by the City of Collinsville.
26        (25) If the ordinance was adopted on September 14, 1994

 

 

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1    by the City of Alton.
2        (26) If the ordinance was adopted on November 11, 1996
3    by the City of Lexington.
4        (27) If the ordinance was adopted on November 5, 1984
5    by the City of LeRoy.
6        (28) If the ordinance was adopted on April 3, 1991 or
7    June 3, 1992 by the City of Markham.
8        (29) If the ordinance was adopted on November 11, 1986
9    by the City of Pekin.
10        (30) If the ordinance was adopted on December 15, 1981
11    by the City of Champaign.
12        (31) If the ordinance was adopted on December 15, 1986
13    by the City of Urbana.
14        (32) If the ordinance was adopted on December 15, 1986
15    by the Village of Heyworth.
16        (33) If the ordinance was adopted on February 24, 1992
17    by the Village of Heyworth.
18        (34) If the ordinance was adopted on March 16, 1995 by
19    the Village of Heyworth.
20        (35) If the ordinance was adopted on December 23, 1986
21    by the Town of Cicero.
22        (36) If the ordinance was adopted on December 30, 1986
23    by the City of Effingham.
24        (37) If the ordinance was adopted on May 9, 1991 by the
25    Village of Tilton.
26        (38) If the ordinance was adopted on October 20, 1986

 

 

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1    by the City of Elmhurst.
2        (39) If the ordinance was adopted on January 19, 1988
3    by the City of Waukegan.
4        (40) If the ordinance was adopted on September 21, 1998
5    by the City of Waukegan.
6        (41) If the ordinance was adopted on December 31, 1986
7    by the City of Sullivan.
8        (42) If the ordinance was adopted on December 23, 1991
9    by the City of Sullivan.
10        (43) If the ordinance was adopted on December 31, 1986
11    by the City of Oglesby.
12        (44) If the ordinance was adopted on July 28, 1987 by
13    the City of Marion.
14        (45) If the ordinance was adopted on April 23, 1990 by
15    the City of Marion.
16        (46) If the ordinance was adopted on August 20, 1985 by
17    the Village of Mount Prospect.
18        (47) If the ordinance was adopted on February 2, 1998
19    by the Village of Woodhull.
20        (48) If the ordinance was adopted on April 20, 1993 by
21    the Village of Princeville.
22        (49) If the ordinance was adopted on July 1, 1986 by
23    the City of Granite City.
24        (50) If the ordinance was adopted on February 2, 1989
25    by the Village of Lombard.
26        (51) If the ordinance was adopted on December 29, 1986

 

 

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

 

 

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1    the Village of Rosemont.
2        (65) If the ordinance was adopted on December 19, 2000
3    by the Village of Stone Park.
4        (66) If the ordinance was adopted on December 22, 1986
5    by the City of DeKalb.
6        (67) If the ordinance was adopted on December 2, 1986
7    by the City of Aurora.
8        (68) If the ordinance was adopted on December 31, 1986
9    by the Village of Milan.
10        (69) If the ordinance was adopted on September 8, 1994
11    by the City of West Frankfort.
12        (70) If the ordinance was adopted on December 23, 1986
13    by the Village of Libertyville.
14        (71) If the ordinance was adopted on December 22, 1986
15    by the Village of Hoffman Estates.
16        (72) If the ordinance was adopted on September 17, 1986
17    by the Village of Sherman.
18        (73) If the ordinance was adopted on December 16, 1986
19    by the City of Macomb.
20        (74) If the ordinance was adopted on June 11, 2002 by
21    the City of East Peoria to create the West Washington
22    Street TIF.
23        (75) If the ordinance was adopted on June 11, 2002 by
24    the City of East Peoria to create the Camp Street TIF.
25        (76) If the ordinance was adopted on August 7, 2000 by
26    the City of Des Plaines.

 

 

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1        (77) If the ordinance was adopted on December 22, 1986
2    by the City of Washington to create the Washington Square
3    TIF #2.
4        (78) If the ordinance was adopted on December 29, 1986
5    by the City of Morris.
6        (79) If the ordinance was adopted on July 6, 1998 by
7    the Village of Steeleville.
8        (80) If the ordinance was adopted on December 29, 1986
9    by the City of Pontiac to create TIF I (the Main St TIF).
10        (81) If the ordinance was adopted on December 29, 1986
11    by the City of Pontiac to create TIF II (the Interstate
12    TIF).
13        (82) If the ordinance was adopted on November 6, 2002
14    by the City of Chicago to create the Madden/Wells TIF
15    District.
16        (83) If the ordinance was adopted on November 4, 1998
17    by the City of Chicago to create the Roosevelt/Racine TIF
18    District.
19        (84) If the ordinance was adopted on June 10, 1998 by
20    the City of Chicago to create the Stony Island
21    Commercial/Burnside Industrial Corridors TIF District.
22        (85) If the ordinance was adopted on November 29, 1989
23    by the City of Chicago to create the Englewood Mall TIF
24    District.
25        (86) If the ordinance was adopted on December 27, 1986
26    by the City of Mendota.

 

 

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1        (87) If the ordinance was adopted on December 31, 1986
2    by the Village of Cahokia.
3        (88) If the ordinance was adopted on September 20, 1999
4    by the City of Belleville.
5        (89) If the ordinance was adopted on December 30, 1986
6    by the Village of Bellevue to create the Bellevue TIF
7    District 1.
8        (90) If the ordinance was adopted on December 13, 1993
9    by the Village of Crete.
10        (91) If the ordinance was adopted on February 12, 2001
11    by the Village of Crete.
12        (92) If the ordinance was adopted on April 23, 2001 by
13    the Village of Crete.
14        (93) If the ordinance was adopted on December 16, 1986
15    by the City of Champaign.
16        (94) If the ordinance was adopted on December 20, 1986
17    by the City of Charleston.
18        (95) If the ordinance was adopted on June 6, 1989 by
19    the Village of Romeoville.
20        (96) If the ordinance was adopted on October 14, 1993
21    and amended on August 2, 2010 by the City of Venice.
22        (97) If the ordinance was adopted on June 1, 1994 by
23    the City of Markham.
24        (98) If the ordinance was adopted on May 19, 1998 by
25    the Village of Bensenville.
26        (99) If the ordinance was adopted on November 12, 1987

 

 

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1    by the City of Dixon.
2        (100) If the ordinance was adopted on December 20, 1988
3    by the Village of Lansing.
4        (101) If the ordinance was adopted on October 27, 1998
5    by the City of Moline.
6        (102) If the ordinance was adopted on May 21, 1991 by
7    the Village of Glenwood.
8        (103) If the ordinance was adopted on January 28, 1992
9    by the City of East Peoria.
10        (104) If the ordinance was adopted on December 14, 1998
11    by the City of Carlyle.
12        (105) If the ordinance was adopted on May 17, 2000, as
13    subsequently amended, by the City of Chicago to create the
14    Midwest Redevelopment TIF District.
15        (106) If the ordinance was adopted on September 13,
16    1989 by the City of Chicago to create the Michigan/Cermak
17    Area TIF District.
18        (107) If the ordinance was adopted on March 30, 1992 by
19    the Village of Ohio.
20        (108) If the ordinance was adopted on July 6, 1998 by
21    the Village of Orangeville.
22        (109) If the ordinance was adopted on December 16, 1997
23    by the Village of Germantown.
24        (110) If the ordinance was adopted on April 28, 2003 by
25    Gibson City.
26        (111) If the ordinance was adopted on December 18, 1990

 

 

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1    by the Village of Washington Park, but only after the
2    Village of Washington Park becomes compliant with the
3    reporting requirements under subsection (d) of Section
4    11-74.4-5, and after the State Comptroller's certification
5    of such compliance.
6        (112) If the ordinance was adopted on February 28, 2000
7    by the City of Harvey.
8        (113) If the ordinance was adopted on January 11, 1991
9    by the City of Chicago to create the Read/Dunning TIF
10    District.
11        (114) If the ordinance was adopted on July 24, 1991 by
12    the City of Chicago to create the Sanitary and Ship Canal
13    TIF District.
14        (115) If the ordinance was adopted on December 4, 2007
15    by the City of Naperville.
16        (116) If the ordinance was adopted on July 1, 2002 by
17    the Village of Arlington Heights.
18        (117) If the ordinance was adopted on February 11, 1991
19    by the Village of Machesney Park.
20        (118) If the ordinance was adopted on December 29, 1993
21    by the City of Ottawa.
22        (119) If the ordinance was adopted on June 4, 1991 by
23    the Village of Lansing.
24        (120) If the ordinance was adopted on February 10, 2004
25    by the Village of Fox Lake.
26        (121) If the ordinance was adopted on December 22, 1992

 

 

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1    by the City of Fairfield.
2        (122) If the ordinance was adopted on February 10, 1992
3    by the City of Mt. Sterling.
4        (123) If the ordinance was adopted on March 15, 2004 by
5    the City of Batavia.
6        (124) If the ordinance was adopted on March 18, 2002 by
7    the Village of Lake Zurich.
8        (125) If the ordinance was adopted on September 23,
9    1997 by the City of Granite City.
10        (126) If the ordinance was adopted on May 8, 2013 by
11    the Village of Rosemont to create the Higgins Road/River
12    Road TIF District No. 6.
13        (127) If the ordinance was adopted on November 22, 1993
14    by the City of Arcola.
15        (128) If the ordinance was adopted on September 7, 2004
16    by the City of Arcola.
17        (129) If the ordinance was adopted on November 29, 1999
18    by the City of Paris.
19        (130) If the ordinance was adopted on September 20,
20    1994 by the City of Ottawa to create the U.S. Route 6 East
21    Ottawa TIF.
22        (131) If the ordinance was adopted on May 2, 2002 by
23    the Village of Crestwood.
24        (132) If the ordinance was adopted on October 27, 1992
25    by the City of Blue Island.
26        (133) If the ordinance was adopted on December 23, 1993

 

 

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1    by the City of Lacon.
2        (134) If the ordinance was adopted on May 4, 1998 by
3    the Village of Bradford.
4        (135) If the ordinance was adopted on June 11, 2002 by
5    the City of Oak Forest.
6        (136) If the ordinance was adopted on November 16, 1992
7    by the City of Pinckneyville.
8        (137) If the ordinance was adopted on March 1, 2001 by
9    the Village of South Jacksonville.
10        (138) If the ordinance was adopted on February 26, 1992
11    by the City of Chicago to create the Stockyards Southeast
12    Quadrant TIF District.
13        (139) If the ordinance was adopted on January 25, 1993
14    by the City of LaSalle.
15        (140) If the ordinance was adopted on December 23, 1997
16    by the Village of Dieterich.
17        (141) If the ordinance was adopted on February 10, 2016
18    by the Village of Rosemont to create the Balmoral/Pearl TIF
19    No. 8 Tax Increment Financing Redevelopment Project Area.
20        (142) If the ordinance was adopted on June 11, 2002 by
21    the City of Oak Forest.
22        (143) If the ordinance was adopted on January 31, 1995
23    by the Village of Milledgeville.
24        (144) If the ordinance was adopted on February 5, 1996
25    by the Village of Pearl City.
26        (145) If the ordinance was adopted on December 21, 1994

 

 

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1    by the City of Calumet City.
2        (146) If the ordinance was adopted on May 5, 2003 by
3    the Town of Normal.
4        (147) If the ordinance was adopted on June 2, 1998 by
5    the City of Litchfield.
6        (148) If the ordinance was adopted on October 23, 1995
7    by the City of Marion.
8        (149) If the ordinance was adopted on May 24, 2001 by
9    the Village of Hanover Park.
10        (150) If the ordinance was adopted on May 30, 1995 by
11    the Village of Dalzell.
12        (151) If the ordinance was adopted on April 15, 1997 by
13    the City of Edwardsville.
14        (152) If the ordinance was adopted on September 5, 1995
15    by the City of Granite City.
16        (153) If the ordinance was adopted on June 21, 1999 by
17    the Village of Table Grove.
18        (154) If the ordinance was adopted on February 23, 1995
19    by the City of Springfield.
20        (155) If the ordinance was adopted on August 11, 1999
21    by the City of Monmouth.
22        (156) If the ordinance was adopted on December 26, 1995
23    by the Village of Posen.
24        (157) If the ordinance was adopted on July 1, 1995 by
25    the Village of Caseyville.
26        (158) If the ordinance was adopted on January 30, 1996

 

 

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1    by the City of Madison.
2        (159) If the ordinance was adopted on February 2, 1996
3    by the Village of Hartford.
4        (160) If the ordinance was adopted on July 2, 1996 by
5    the Village of Manlius.
6        (161) If the ordinance was adopted on March 21, 2000 by
7    the City of Hoopeston.
8        (162) If the ordinance was adopted on March 22, 2005 by
9    the City of Hoopeston.
10        (163) If the ordinance was adopted on July 10, 1996 by
11    the City of Chicago to create the Goose Island TIF
12    District.
13        (164) If the ordinance was adopted on December 11, 1996
14    by the City of Chicago to create the Bryn Mawr/Broadway TIF
15    District.
16        (165) If the ordinance was adopted on December 31, 1995
17    by the City of Chicago to create the 95th/Western TIF
18    District.
19        (166) If the ordinance was adopted on October 7, 1998
20    by the City of Chicago to create the 71st and Stony Island
21    TIF District.
22        (167) If the ordinance was adopted on April 19, 1995 by
23    the Village of North Utica.
24        (168) If the ordinance was adopted on April 22, 1996 by
25    the City of LaSalle.
26        (169) If the ordinance was adopted on June 9, 2008 by

 

 

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1    the City of Country Club Hills.
2        (170) If the ordinance was adopted on July 3, 1996 by
3    the Village of Phoenix.
4        (171) If the ordinance was adopted on May 19, 1997 by
5    the Village of Swansea.
6        (172) If the ordinance was adopted on August 13, 2001
7    by the Village of Saunemin.
8        (173) If the ordinance was adopted on January 10, 2005
9    by the Village of Romeoville.
10        (174) If the ordinance was adopted on January 28, 1997
11    by the City of Berwyn for the South Berwyn Corridor Tax
12    Increment Financing District.
13        (175) If the ordinance was adopted on January 28, 1997
14    by the City of Berwyn for the Roosevelt Road Tax Increment
15    Financing District.
16        (176) If the ordinance was adopted on May 3, 2001 by
17    the Village of Hanover Park for the Village Center Tax
18    Increment Financing Redevelopment Project Area (TIF # 3).
19        (177) If the ordinance was adopted on January 1, 1996
20    by the City of Savanna.
21        (178) If the ordinance was adopted on January 28, 2002
22    by the Village of Okawville.
23        (179) If the ordinance was adopted on October 4, 1999
24    by the City of Vandalia.
25        (180) If the ordinance was adopted on June 16, 2003 by
26    the City of Rushville.

 

 

10100SB2052ham004- 20 -LRB101 09907 AWJ 72320 a

1        (181) If the ordinance was adopted on December 7, 1998
2    by the City of Quincy for the Central Business District
3    West Tax Increment Redevelopment Project Area.
4        (182) If the ordinance was adopted on March 27, 1997 by
5    the Village of Maywood approving the Roosevelt Road TIF
6    District.
7        (183) If the ordinance was adopted on March 27, 1997 by
8    the Village of Maywood approving the Madison Street/Fifth
9    Avenue TIF District.
10        (184) If the ordinance was adopted on November 10, 1997
11    by the Village of Park Forest.
12        (185) If the ordinance was adopted on July 30, 1997 by
13    the City of Chicago to create the Near North TIF district.
14        (186) If the ordinance was adopted on December 1, 2000
15    by the Village of Mahomet.
16        (187) If the ordinance was adopted on June 16, 1999 by
17    the Village of Washburn.
18        (188) If the ordinance was adopted on August 19, 1998
19    by the Village of New Berlin.
20    (d) For redevelopment project areas for which bonds were
21issued before July 29, 1991, or for which contracts were
22entered into before June 1, 1988, in connection with a
23redevelopment project in the area within the State Sales Tax
24Boundary, the estimated dates of completion of the
25redevelopment project and retirement of obligations to finance
26redevelopment project costs (including refunding bonds under

 

 

10100SB2052ham004- 21 -LRB101 09907 AWJ 72320 a

1Section 11-74.4-7) may be extended by municipal ordinance to
2December 31, 2013. The termination procedures of subsection (b)
3of Section 11-74.4-8 are not required for these redevelopment
4project areas in 2009 but are required in 2013. The extension
5allowed by Public Act 87-1272 shall not apply to real property
6tax increment allocation financing under Section 11-74.4-8.
7    (e) Those dates, for purposes of real property tax
8increment allocation financing pursuant to Section 11-74.4-8
9only, shall be not more than 35 years for redevelopment project
10areas that were adopted on or after December 16, 1986 and for
11which at least $8 million worth of municipal bonds were
12authorized on or after December 19, 1989 but before January 1,
131990; provided that the municipality elects to extend the life
14of the redevelopment project area to 35 years by the adoption
15of an ordinance after at least 14 but not more than 30 days'
16written notice to the taxing bodies, that would otherwise
17constitute the joint review board for the redevelopment project
18area, before the adoption of the ordinance.
19    (f) Those dates, for purposes of real property tax
20increment allocation financing pursuant to Section 11-74.4-8
21only, shall be not more than 35 years for redevelopment project
22areas that were established on or after December 1, 1981 but
23before January 1, 1982 and for which at least $1,500,000 worth
24of tax increment revenue bonds were authorized on or after
25September 30, 1990 but before July 1, 1991; provided that the
26municipality elects to extend the life of the redevelopment

 

 

10100SB2052ham004- 22 -LRB101 09907 AWJ 72320 a

1project area to 35 years by the adoption of an ordinance after
2at least 14 but not more than 30 days' written notice to the
3taxing bodies, that would otherwise constitute the joint review
4board for the redevelopment project area, before the adoption
5of the ordinance.
6    (f-5) Those dates, for purposes of real property tax
7increment allocation financing pursuant to Section 11-74.4-8
8only, shall be not more than 47 years for redevelopment project
9areas that were established on December 29, 1981 by the City of
10Springfield; provided that (i) the City of Springfield adopts
11an ordinance extending the life of the redevelopment project
12area to 47 years and (ii) the City of Springfield provides
13notice to the taxing bodies that would otherwise constitute the
14joint review board for the redevelopment project area not more
15than 30 and not less than 14 days prior to the adoption of that
16ordinance.
17    (g) In consolidating the material relating to completion
18dates from Sections 11-74.4-3 and 11-74.4-7 into this Section,
19it is not the intent of the General Assembly to make any
20substantive change in the law, except for the extension of the
21completion dates for the City of Aurora, the Village of Milan,
22the City of West Frankfort, the Village of Libertyville, and
23the Village of Hoffman Estates set forth under items (67),
24(68), (69), (70), and (71) of subsection (c) of this Section.
25(Source: P.A. 100-201, eff. 8-18-17; 100-214, eff. 8-18-17;
26100-249, eff. 8-22-17; 100-510, eff. 9-15-17; 100-591, eff.

 

 

10100SB2052ham004- 23 -LRB101 09907 AWJ 72320 a

16-21-18; 100-609, eff. 7-17-18; 100-836, eff. 8-13-18;
2100-853, eff. 8-14-18; 100-859, eff. 8-14-18; 100-863, eff.
38-14-18; 100-873, eff. 8-14-18; 100-899, eff. 8-17-18;
4100-928, eff. 8-17-18; 100-967, eff. 8-19-18; 100-1031, eff.
58-22-18; 100-1032, eff. 8-22-18; 100-1164, eff. 12-27-18;
6101-274, eff. 8-9-19; 101-618, eff. 12-20-19.)
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.".