Bill Text: IL SB1139 | 2021-2022 | 102nd General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated date of completion of redevelopment projects and the retirement of obligations issued to finance redevelopment project costs for various ordinances adopted by the Village of Homer, City of Greenville, and City of Chicago. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after adoption of various ordinances by the City of Pekin and City of Belleville if those municipalities adopt a specified ordinance and provide notice to the taxing bodies that would otherwise constitute the joint review board of each redevelopment project area. Makes an organizational change. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 7-1)

Status: (Passed) 2021-11-30 - Public Act . . . . . . . . . 102-0675 [SB1139 Detail]

Download: Illinois-2021-SB1139-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB1139 Introduced 2/25/2021, by Sen. Don Harmon SYNOPSIS AS INTRODUCED:
35 ILCS 17/10-1
Amends the Live Theater Production Tax Credit Act. Makes a technical change in a Section concerning the short title.
LRB102 04943 HLH 14962 b
A BILL FOR
SB1139 LRB102 04943 HLH 14962 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Live Theater Production Tax Credit Act is
amended by changing Section 10-1 as follows:
(35 ILCS 17/10-1)
Sec. 10-1. Short title. This Article may be cited as the
the Live Theater Production Tax Credit Act. References in this
Article to "this Act" mean this Article.
(Source: P.A. 97-636, eff. 6-1-12.)