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90_HB2962
65 ILCS 5/11-74.4-4.1
In the Illinois Municipal Code, amends the Tax Increment
Allocation Redevelopment Act concerning feasibility studies.
Adds a caption.
LRB9009492PTsb
LRB9009492PTsb
1 AN ACT concerning tax increment allocation redevelopment.
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 11-74.4-4.1 as follows:
6 (65 ILCS 5/11-74.4-4.1)
7 Sec. 11-74.4-4.1. Feasibility study. If a municipality
8 by its corporate authorities, or as it may determine by any
9 commission designated under subsection (k) of Section
10 11-74.4-4, adopts an ordinance or resolution providing for a
11 feasibility study on the designation of an area as a
12 redevelopment project area, a copy of the ordinance or
13 resolution shall immediately be sent to all taxing districts
14 that would be affected by the designation.
15 (Source: P.A. 88-537.)