Bill Text: IL SB1356 | 2009-2010 | 96th General Assembly | Introduced

Bill Title: Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the redevelopment project in the TIF district created by an ordinance that was adopted on August 7, 2000 by the City of Des Plaines must be completed by December 31 of the 35th year (now, the 23rd year) after the year in which the ordinance was adopted. Makes revisory changes. Contains a non-acceleration clause.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 3-9(a) / Re-referred to Assignments [SB1356 Detail]

Download: Illinois-2009-SB1356-Introduced.html






 













96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1356


 
Introduced 2/10/2009, by Sen. Dan Kotowski
 
SYNOPSIS AS INTRODUCED:














65 ILCS 5/11-74.4-3.5










 Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the redevelopment project in the TIF district created by an ordinance that was adopted on August 7, 2000 by the City of Des Plaines must be completed by December 31 of the 35th year (now, the 23rd year) after the year in which the ordinance was adopted. Makes revisory changes. Contains a non-acceleration clause.
















LRB096 07422 RLJ 17509 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1356

LRB096 07422 RLJ 17509 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
 (Text of Section before amendment by P.A. 95-1028)
8
 Sec. 11-74.4-3.5. Completion dates for redevelopment 
9
projects.
10
 (a) Unless otherwise stated in this Section, the estimated 
11
dates of completion
of the redevelopment project and retirement 
12
of obligations issued to finance
redevelopment project costs 
13
(including refunding bonds under Section 11-74.4-7) may not be

14
later than December 31 of the year in which the payment to the 
15
municipal
treasurer, as provided in subsection (b) of Section 
16
11-74.4-8 of this Act, is to
be made with respect to ad valorem 
17
taxes levied in the 23rd
calendar year after the year in which 
18
the ordinance approving the
redevelopment project area was 
19
adopted if the ordinance was adopted on or after
January 15, 
20
1981.
21
 (b) The estimated dates of completion
of the redevelopment 
22
project and retirement of obligations issued to finance

23
redevelopment project costs (including refunding bonds under 
 


 






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1
Section 11-74.4-7) may not be later than December 31 of the 
2
year in which the payment to the municipal
treasurer as 
3
provided in subsection (b) of Section 11-74.4-8 of this Act is 
4
to
be made with respect to ad valorem taxes levied in the 33rd 
5
calendar
year after the year in which the ordinance approving 
6
the
redevelopment project area was adopted, if the ordinance 
7
was adopted on May 20, 1985 by the Village of Wheeling.
8
 (c) The estimated dates of completion
of the redevelopment 
9
project and retirement of obligations issued to finance

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


 






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


 






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1
  (14) if the ordinance was adopted on December 29, 1986 
2
 by the City of Galva;
3
  (15) if the ordinance was adopted in March 1991 by the 
4
 City of Centreville;
5
  (16) if the ordinance was adopted on January 23, 1991

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


 






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1
 by the
City of Lexington;
2
  (27) if the ordinance was adopted on November 5, 1984 
3
 by
the City of LeRoy;
4
  (28) if the ordinance was adopted on April 3, 1991 or

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


 






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


 






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


 






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1
 by the Village of Stone Park;
2
  (66) if the ordinance was adopted on December 22, 1986 
3
 by the City of DeKalb; or
4
  (67) if the ordinance was adopted on December 2, 1986 
5
 by the City of Aurora; .

6
  (68)
(67) if the ordinance was adopted on December 31, 
7
 1986 by the Village of Milan; or
8
  (69)
(68) if the ordinance was adopted on September 8, 
9
 1994 by the City of West Frankfort; .
10
  (70) if the ordinance was adopted on December 23, 1986 
11
 by the Village of Libertyville; or
12
  (72) if the ordinance was adopted on August 7, 2000 by 
13
 the City of Des Plaines.
14
 (d) For redevelopment project areas for which bonds were 
15
issued before
July 29, 1991, or for which contracts were 
16
entered into before June 1,
1988, in connection with a 
17
redevelopment project in the area within
the State Sales Tax 
18
Boundary, the estimated dates of completion of the

19
redevelopment project and retirement of obligations to finance 
20
redevelopment
project costs (including refunding bonds under 
21
Section 11-74.4-7) may be extended by municipal ordinance to 
22
December 31, 2013.
The termination procedures of subsection (b) 
23
of Section 11-74.4-8 are not
required for
these redevelopment 
24
project areas in 2009 but are required in 2013.
The extension 
25
allowed by Public Act 87-1272 shall not apply to real
property 
26
tax increment allocation financing under Section 11-74.4-8.
 


 






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

20
municipality elects to extend the life of the redevelopment 
21
project area to 35
years by the adoption of an ordinance after 
22
at least 14 but not more than 30
days' written notice to the 
23
taxing bodies, that would otherwise constitute the
joint review 
24
board for the redevelopment project area, before the adoption 
25
of
the ordinance.
26
 (g) In consolidating the material relating to completion 
 


 






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1
dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, 
2
it is not the intent of the 95th General Assembly to make any 
3
substantive change in the law, except for the extension of the 
4
completion dates date for the City of Aurora, the Village of 
5
Milan,
and the City of West Frankfort, and the Village of 
6
Libertyville set forth under items item (67),
and (68), (69), 
7
and (70) of subsection (c) of this Section. 

8
(Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; 
9
incorporates P.A. 95-777, eff. 9-22-08; revised 10-14-08.)

10
 (Text of Section after amendment by P.A. 95-1028)
11
 Sec. 11-74.4-3.5. Completion dates for redevelopment 
12
projects.
13
 (a) Unless otherwise stated in this Section, the estimated 
14
dates of completion
of the redevelopment project and retirement 
15
of obligations issued to finance
redevelopment project costs 
16
(including refunding bonds under Section 11-74.4-7) may not be

17
later than December 31 of the year in which the payment to the 
18
municipal
treasurer, as provided in subsection (b) of Section 
19
11-74.4-8 of this Act, is to
be made with respect to ad valorem 
20
taxes levied in the 23rd
calendar year after the year in which 
21
the ordinance approving the
redevelopment project area was 
22
adopted if the ordinance was adopted on or after
January 15, 
23
1981.
24
 (b) The estimated dates of completion
of the redevelopment 
25
project and retirement of obligations issued to finance

 


 






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1
redevelopment project costs (including refunding bonds under 
2
Section 11-74.4-7) may not be later than December 31 of the 
3
year in which the payment to the municipal
treasurer as 
4
provided in subsection (b) of Section 11-74.4-8 of this Act is 
5
to
be made with respect to ad valorem taxes levied in the 33rd 
6
calendar
year after the year in which the ordinance approving 
7
the
redevelopment project area was adopted, if the ordinance 
8
was adopted on May 20, 1985 by the Village of Wheeling.
9
 (c) The estimated dates of completion
of the redevelopment 
10
project and retirement of obligations issued to finance

11
redevelopment project costs (including refunding bonds under 
12
Section 11-74.4-7) may not be later than December 31 of the 
13
year in which the payment to the municipal
treasurer as 
14
provided in subsection (b) of Section 11-74.4-8 of this Act is 
15
to
be made with respect to ad valorem taxes levied in the 35th 
16
calendar
year after the year in which the ordinance approving 
17
the
redevelopment project area was adopted:
18
  (1) if the ordinance was adopted before January 15, 
19
 1981;
20
  (2) if the ordinance was adopted in December 1983, 
21
 April 1984, July 1985,
or December 1989;
22
  (3) if the ordinance was adopted in December 1987 and 
23
 the redevelopment
project is located within one mile of 
24
 Midway Airport;
25
  (4) if the ordinance was adopted before January 1, 1987 
26
 by a municipality in
Mason County;
 


 






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


 






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1
 Sauk Village;
2
  (14) if the ordinance was adopted on December 29, 1986 
3
 by the City of Galva;
4
  (15) if the ordinance was adopted in March 1991 by the 
5
 City of Centreville;
6
  (16) if the ordinance was adopted on January 23, 1991

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


 






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1
  (26) if the ordinance was adopted on November 11, 1996 
2
 by the
City of Lexington;
3
  (27) if the ordinance was adopted on November 5, 1984 
4
 by
the City of LeRoy;
5
  (28) if the ordinance was adopted on April 3, 1991 or

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


 






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


 






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


 






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1
  (65) if the ordinance was adopted on December 19, 2000 
2
 by the Village of Stone Park;
3
  (66) if the ordinance was adopted on December 22, 1986 
4
 by the City of DeKalb; or
5
  (67) if the ordinance was adopted on December 2, 1986 
6
 by the City of Aurora; .

7
  (68)
(67) if the ordinance was adopted on December 31, 
8
 1986 by the Village of Milan; or
9
  (69)
(68) if the ordinance was adopted on September 8, 
10
 1994 by the City of West Frankfort; .
11
  (70) if the ordinance was adopted on December 23, 1986 
12
 by the Village of Libertyville;
13
  (71) if the ordinance was adopted on December 22, 1986 
14
 by the Village of Hoffman Estates; or

15
  (72) if the ordinance was adopted on August 7, 2000 by 
16
 the City of Des Plaines.
17
 (d) For redevelopment project areas for which bonds were 
18
issued before
July 29, 1991, or for which contracts were 
19
entered into before June 1,
1988, in connection with a 
20
redevelopment project in the area within
the State Sales Tax 
21
Boundary, the estimated dates of completion of the

22
redevelopment project and retirement of obligations to finance 
23
redevelopment
project costs (including refunding bonds under 
24
Section 11-74.4-7) may be extended by municipal ordinance to 
25
December 31, 2013.
The termination procedures of subsection (b) 
26
of Section 11-74.4-8 are not
required for
these redevelopment 
 


 






SB1356
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LRB096 07422 RLJ 17509 b





1
project areas in 2009 but are required in 2013.
The extension 
2
allowed by Public Act 87-1272 shall not apply to real
property 
3
tax increment allocation financing under Section 11-74.4-8.
4
 (e) Those dates, for purposes of real property tax 
5
increment allocation
financing pursuant to Section 11-74.4-8 
6
only, shall be not more than 35 years
for redevelopment project 
7
areas that were adopted on or after December 16,
1986 and for 
8
which at least $8 million worth of municipal bonds were 
9
authorized
on or after December 19, 1989 but before January 1, 
10
1990; provided that the
municipality elects to extend the life 
11
of the redevelopment project area to 35
years by the adoption 
12
of an ordinance after at least 14 but not more than 30
days' 
13
written notice to the taxing bodies, that would otherwise 
14
constitute the
joint review board for the redevelopment project 
15
area, before the adoption of
the ordinance.
16
 (f) Those dates, for purposes of real property tax 
17
increment allocation
financing pursuant to Section 11-74.4-8 
18
only, shall be not more than 35 years
for redevelopment project 
19
areas that were established on or after December 1,
1981 but 
20
before January 1, 1982 and for which at least $1,500,000 worth 
21
of
tax increment revenue bonds were authorized
on or after 
22
September 30, 1990 but before July 1, 1991; provided that the

23
municipality elects to extend the life of the redevelopment 
24
project area to 35
years by the adoption of an ordinance after 
25
at least 14 but not more than 30
days' written notice to the 
26
taxing bodies, that would otherwise constitute the
joint review 
 


 






SB1356
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LRB096 07422 RLJ 17509 b





1
board for the redevelopment project area, before the adoption 
2
of
the ordinance.
3
 (g) In consolidating the material relating to completion 
4
dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, 
5
it is not the intent of the 95th General Assembly to make any 
6
substantive change in the law, except for the extension of the 
7
completion dates date for the City of Aurora, the Village of 
8
Milan,
and the City of West Frankfort, the Village of 
9
Libertyville, and the Village of Hoffman Estates set forth 
10
under items item (67),
and (68), (69), (70), and (71) of 
11
subsection (c) of this Section. 

12
(Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; 
13
incorporates P.A. 95-777, eff. 9-22-08, and 95-1028, eff. 
14
1-1-10; revised 1-27-09.)


15
 Section 95. No acceleration or delay. Where this Act makes 
16
changes in a statute that is represented in this Act by text 
17
that is not yet or no longer in effect (for example, a Section 
18
represented by multiple versions), the use of that text does 
19
not accelerate or delay the taking effect of (i) the changes 
20
made by this Act or (ii) provisions derived from any other 
21
Public Act.

 
         


        
        
      


      

  

      
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