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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Municipal Code is amended by |
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| changing Section 11-74.4-3.5 as follows: |
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| (65 ILCS 5/11-74.4-3.5) |
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| (Text of Section before amendment by P.A. 95-1028 ) |
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| Sec. 11-74.4-3.5. Completion dates for redevelopment |
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| projects. |
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| (a) Unless otherwise stated in this Section, the estimated |
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| dates of completion
of the redevelopment project and retirement |
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| of obligations issued to finance
redevelopment project costs |
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| (including refunding bonds under Section 11-74.4-7) may not be
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| later than December 31 of the year in which the payment to the |
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| municipal
treasurer, as provided in subsection (b) of Section |
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| 11-74.4-8 of this Act, is to
be made with respect to ad valorem |
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| taxes levied in the 23rd
calendar year after the year in which |
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| the ordinance approving the
redevelopment project area was |
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| adopted if the ordinance was adopted on or after
January 15, |
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| 1981. |
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| (b) The estimated dates of completion
of the redevelopment |
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| project and retirement of obligations issued to finance
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| redevelopment project costs (including refunding bonds under |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| Section 11-74.4-7) may not be later than December 31 of the |
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| year in which the payment to the municipal
treasurer as |
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| provided in subsection (b) of Section 11-74.4-8 of this Act is |
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| to
be made with respect to ad valorem taxes levied in the 33rd |
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| calendar
year after the year in which the ordinance approving |
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| the
redevelopment project area was adopted, if the ordinance |
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| was adopted on May 20, 1985 by the Village of Wheeling. |
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| (c) The estimated dates of completion
of the redevelopment |
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| project and retirement of obligations issued to finance
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| redevelopment project costs (including refunding bonds under |
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| Section 11-74.4-7) may not be later than December 31 of the |
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| year in which the payment to the municipal
treasurer as |
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| provided in subsection (b) of Section 11-74.4-8 of this Act is |
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| to
be made with respect to ad valorem taxes levied in the 35th |
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| calendar
year after the year in which the ordinance approving |
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| the
redevelopment project area was adopted: |
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| (1) if the ordinance was adopted before January 15, |
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| 1981; |
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| (2) if the ordinance was adopted in December 1983, |
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| April 1984, July 1985,
or December 1989; |
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| (3) if the ordinance was adopted in December 1987 and |
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| the redevelopment
project is located within one mile of |
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| Midway Airport; |
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| (4) if the ordinance was adopted before January 1, 1987 |
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| by a municipality in
Mason County; |
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| (5) if the municipality is subject to the Local |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| Government Financial Planning
and Supervision Act or the |
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| Financially Distressed City Law; |
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| (6) if the ordinance was adopted in December 1984 by |
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| the Village of Rosemont; |
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| (7) if the ordinance was adopted on December 31, 1986 |
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| by a municipality
located in Clinton County for which at |
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| least $250,000 of tax increment
bonds were authorized on |
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| June 17, 1997, or if the ordinance was adopted on
December |
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| 31, 1986 by a municipality with a population in 1990 of |
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| less than
3,600 that is located in a county with a |
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| population in 1990 of less than
34,000 and for which at |
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| least $250,000 of tax increment bonds were authorized
on |
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| June 17, 1997; |
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| (8) if the ordinance was adopted on October 5, 1982 by |
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| the City of Kankakee, or if the ordinance was adopted on |
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| December 29, 1986 by East St. Louis; |
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| (9) if
the ordinance was adopted on November 12, 1991 |
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| by the Village of Sauget; |
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| (10) if the ordinance was
adopted on February 11, 1985 |
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| by the City of Rock Island; |
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| (11) if the ordinance was adopted before December 18, |
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| 1986 by the City of
Moline; |
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| (12) if the ordinance was adopted in September 1988 by |
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| Sauk Village; |
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| (13) if the ordinance was adopted in October 1993 by |
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| Sauk Village; |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| (14) if the ordinance was adopted on December 29, 1986 |
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| by the City of Galva; |
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| (15) if the ordinance was adopted in March 1991 by the |
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| City of Centreville; |
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| (16) if the ordinance was adopted on January 23, 1991
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| by the City of East St. Louis; |
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| (17) if the ordinance was adopted on December 22, 1986 |
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| by the City of Aledo; |
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| (18) if the ordinance was adopted on February 5, 1990 |
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| by the City of Clinton; |
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| (19) if the ordinance was adopted on September 6, 1994 |
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| by the City of Freeport; |
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| (20) if the ordinance was adopted on December 22, 1986 |
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| by the City of Tuscola; |
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| (21) if the ordinance was adopted on December 23, 1986 |
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| by the City of Sparta; |
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| (22) if the ordinance was adopted on December 23, 1986 |
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| by the City of
Beardstown; |
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| (23) if the ordinance was adopted on April 27, 1981, |
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| October 21, 1985, or
December 30, 1986 by the City of |
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| Belleville; |
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| (24) if the ordinance was adopted on December 29, 1986 |
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| by the City of
Collinsville; |
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| (25) if the ordinance was adopted on September 14, 1994 |
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| by the
City of Alton; |
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| (26) if the ordinance was adopted on November 11, 1996 |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| by the
City of Lexington; |
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| (27) if the ordinance was adopted on November 5, 1984 |
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| by
the City of LeRoy; |
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| (28) if the ordinance was adopted on April 3, 1991 or
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| June 3, 1992 by the City of Markham; |
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| (29) if the ordinance was adopted on November 11, 1986 |
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| by the City of Pekin; |
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| (30) if the ordinance was adopted on December 15, 1981 |
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| by the City of Champaign; |
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| (31) if the ordinance was adopted on December 15, 1986 |
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| by the City of Urbana; |
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| (32) if the ordinance was adopted on December 15, 1986 |
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| by the Village of Heyworth; |
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| (33) if the ordinance was adopted on February 24, 1992 |
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| by the Village of Heyworth; |
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| (34) if the ordinance was adopted on March 16, 1995 by |
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| the Village of Heyworth; |
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| (35) if the ordinance was adopted on December 23, 1986 |
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| by the Town of Cicero; |
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| (36) if the ordinance was adopted on December 30, 1986 |
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| by the City of Effingham; |
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| (37) if the ordinance was adopted on May 9, 1991 by the |
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| Village of
Tilton; |
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| (38) if the ordinance was adopted on October 20, 1986 |
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| by the City of Elmhurst; |
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| (39) if the ordinance was adopted on January 19, 1988 |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| by the City of
Waukegan; |
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| (40) if the ordinance was adopted on September 21, 1998 |
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| by the City of
Waukegan; |
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| (41) if the ordinance was adopted on December 31, 1986 |
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| by the City of Sullivan; |
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| (42) if the ordinance was adopted on December 23, 1991 |
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| by the City of Sullivan; |
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| (43) if the ordinance was adopted on December 31, 1986 |
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| by the City of Oglesby; |
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| (44) if the ordinance was adopted on July 28, 1987 by |
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| the City of Marion; |
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| (45) if the ordinance was adopted on April 23, 1990 by |
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| the City of Marion; |
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| (46) if the ordinance was adopted on August 20, 1985 by |
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| the Village of Mount Prospect; |
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| (47) if the ordinance was adopted on February 2, 1998 |
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| by the Village of Woodhull; |
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| (48) if the ordinance was adopted on April 20, 1993 by |
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| the Village of Princeville; |
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| (49) if the ordinance was adopted on July 1, 1986 by |
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| the City of Granite City; |
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| (50) if the ordinance was adopted on February 2, 1989 |
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| by the Village of Lombard; |
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| (51) if the ordinance was adopted on December 29, 1986 |
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| by the Village of Gardner; |
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| (52) if the ordinance was adopted on July 14, 1999 by |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| the Village of Paw Paw; |
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| (53) if the ordinance was adopted on November 17, 1986 |
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| by the Village of Franklin Park; |
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| (54) if the ordinance was adopted on November 20, 1989 |
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| by the Village of South Holland; |
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| (55) if the ordinance was adopted on July 14, 1992 by |
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| the Village of Riverdale; |
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| (56) if the ordinance was adopted on December 29, 1986 |
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| by the City of Galesburg; |
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| (57) if the ordinance was adopted on April 1, 1985 by |
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| the City of Galesburg; |
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| (58) if the ordinance was adopted on May 21, 1990 by |
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| the City of West Chicago; |
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| (59) if the ordinance was adopted on December 16, 1986 |
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| by the City of Oak Forest; |
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| (60) if the ordinance was adopted in 1999 by the City |
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| of Villa Grove; |
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| (61) if the ordinance was adopted on January 13, 1987 |
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| by the Village of Mt. Zion; |
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| (62) if the ordinance was adopted on December 30, 1986 |
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| by the Village of Manteno; |
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| (63) if the ordinance was adopted on April 3, 1989 by |
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| the City of Chicago Heights; |
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| (64) if the ordinance was adopted on January 6, 1999 by |
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| the Village of Rosemont; |
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| (65) if the ordinance was adopted on December 19, 2000 |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| by the Village of Stone Park; |
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| (66) if the ordinance was adopted on December 22, 1986 |
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| by the City of DeKalb; or |
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| (67) if the ordinance was adopted on December 2, 1986 |
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| by the City of Aurora ; .
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| (68)
(67) if the ordinance was adopted on December 31, |
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| 1986 by the Village of Milan; or |
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| (69)
(68) if the ordinance was adopted on September 8, |
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| 1994 by the City of West Frankfort ; . |
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| (70) if the ordinance was adopted on December 23, 1986 |
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| by the Village of Libertyville; or |
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| (72) if the ordinance was adopted on December 22, 1986 |
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| by the City of Washington to create the Washington Square |
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| TIF #2. |
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| (d) For redevelopment project areas for which bonds were |
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| issued before
July 29, 1991, or for which contracts were |
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| entered into before June 1,
1988, in connection with a |
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| redevelopment project in the area within
the State Sales Tax |
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| Boundary, the estimated dates of completion of the
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| redevelopment project and retirement of obligations to finance |
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| redevelopment
project costs (including refunding bonds under |
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| Section 11-74.4-7) may be extended by municipal ordinance to |
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| December 31, 2013.
The termination procedures of subsection (b) |
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| of Section 11-74.4-8 are not
required for
these redevelopment |
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| project areas in 2009 but are required in 2013.
The extension |
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| allowed by Public Act 87-1272 shall not apply to real
property |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| tax increment allocation financing under Section 11-74.4-8. |
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| (e) Those dates, for purposes of real property tax |
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| increment allocation
financing pursuant to Section 11-74.4-8 |
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| only, shall be not more than 35 years
for redevelopment project |
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| areas that were adopted on or after December 16,
1986 and for |
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| which at least $8 million worth of municipal bonds were |
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| authorized
on or after December 19, 1989 but before January 1, |
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| 1990; provided that the
municipality elects to extend the life |
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| of the redevelopment project area to 35
years by the adoption |
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| of an ordinance after at least 14 but not more than 30
days' |
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| written notice to the taxing bodies, that would otherwise |
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| constitute the
joint review board for the redevelopment project |
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| area, before the adoption of
the ordinance. |
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| (f) Those dates, for purposes of real property tax |
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| increment allocation
financing pursuant to Section 11-74.4-8 |
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| only, shall be not more than 35 years
for redevelopment project |
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| areas that were established on or after December 1,
1981 but |
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| before January 1, 1982 and for which at least $1,500,000 worth |
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| of
tax increment revenue bonds were authorized
on or after |
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| September 30, 1990 but before July 1, 1991; provided that the
|
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| municipality elects to extend the life of the redevelopment |
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| project area to 35
years by the adoption of an ordinance after |
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| at least 14 but not more than 30
days' written notice to the |
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| taxing bodies, that would otherwise constitute the
joint review |
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| board for the redevelopment project area, before the adoption |
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| of
the ordinance. |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| (g) In consolidating the material relating to completion |
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| dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, |
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| it is not the intent of the 95th General Assembly to make any |
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| substantive change in the law, except for the extension of the |
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| completion dates date for the City of Aurora , the Village of |
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| Milan ,
and the City of West Frankfort , and the Village of |
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| Libertyville set forth under items item (67) ,
and (68) , (69), |
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| and (70) of subsection (c) of this Section.
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| (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; |
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| incorporates P.A. 95-777, eff. 9-22-08; revised 10-14-08.) |
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| (Text of Section after amendment by P.A. 95-1028 ) |
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| Sec. 11-74.4-3.5. Completion dates for redevelopment |
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| projects. |
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| (a) Unless otherwise stated in this Section, the estimated |
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| dates of completion
of the redevelopment project and retirement |
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| of obligations issued to finance
redevelopment project costs |
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| (including refunding bonds under Section 11-74.4-7) may not be
|
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| later than December 31 of the year in which the payment to the |
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| municipal
treasurer, as provided in subsection (b) of Section |
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| 11-74.4-8 of this Act, is to
be made with respect to ad valorem |
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| taxes levied in the 23rd
calendar year after the year in which |
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| the ordinance approving the
redevelopment project area was |
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| adopted if the ordinance was adopted on or after
January 15, |
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| 1981. |
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| (b) The estimated dates of completion
of the redevelopment |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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| project and retirement of obligations issued to finance
|
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| redevelopment project costs (including refunding bonds under |
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| Section 11-74.4-7) may not be later than December 31 of the |
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| year in which the payment to the municipal
treasurer as |
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| provided in subsection (b) of Section 11-74.4-8 of this Act is |
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| to
be made with respect to ad valorem taxes levied in the 33rd |
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| calendar
year after the year in which the ordinance approving |
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| the
redevelopment project area was adopted, if the ordinance |
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| was adopted on May 20, 1985 by the Village of Wheeling. |
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| (c) The estimated dates of completion
of the redevelopment |
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| project and retirement of obligations issued to finance
|
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| redevelopment project costs (including refunding bonds under |
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| Section 11-74.4-7) may not be later than December 31 of the |
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| year in which the payment to the municipal
treasurer as |
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| provided in subsection (b) of Section 11-74.4-8 of this Act is |
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| to
be made with respect to ad valorem taxes levied in the 35th |
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| calendar
year after the year in which the ordinance approving |
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| the
redevelopment project area was adopted: |
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| (1) if the ordinance was adopted before January 15, |
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| 1981; |
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| (2) if the ordinance was adopted in December 1983, |
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| April 1984, July 1985,
or December 1989; |
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| (3) if the ordinance was adopted in December 1987 and |
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| the redevelopment
project is located within one mile of |
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| Midway Airport; |
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| (4) if the ordinance was adopted before January 1, 1987 |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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|
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| by a municipality in
Mason County; |
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| (5) if the municipality is subject to the Local |
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| Government Financial Planning
and Supervision Act or the |
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| Financially Distressed City Law; |
5 |
| (6) if the ordinance was adopted in December 1984 by |
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| the Village of Rosemont; |
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| (7) if the ordinance was adopted on December 31, 1986 |
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| by a municipality
located in Clinton County for which at |
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| least $250,000 of tax increment
bonds were authorized on |
10 |
| June 17, 1997, or if the ordinance was adopted on
December |
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| 31, 1986 by a municipality with a population in 1990 of |
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| less than
3,600 that is located in a county with a |
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| population in 1990 of less than
34,000 and for which at |
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| least $250,000 of tax increment bonds were authorized
on |
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| June 17, 1997; |
16 |
| (8) if the ordinance was adopted on October 5, 1982 by |
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| the City of Kankakee, or if the ordinance was adopted on |
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| December 29, 1986 by East St. Louis; |
19 |
| (9) if
the ordinance was adopted on November 12, 1991 |
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| by the Village of Sauget; |
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| (10) if the ordinance was
adopted on February 11, 1985 |
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| by the City of Rock Island; |
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| (11) if the ordinance was adopted before December 18, |
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| 1986 by the City of
Moline; |
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| (12) if the ordinance was adopted in September 1988 by |
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| Sauk Village; |
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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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|
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| (13) if the ordinance was adopted in October 1993 by |
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| Sauk Village; |
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| (14) if the ordinance was adopted on December 29, 1986 |
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| by the City of Galva; |
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| (15) if the ordinance was adopted in March 1991 by the |
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| City of Centreville; |
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| (16) if the ordinance was adopted on January 23, 1991
|
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| by the City of East St. Louis; |
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| (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; |
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| (20) if the ordinance was adopted on December 22, 1986 |
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| 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, |
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| October 21, 1985, or
December 30, 1986 by the City of |
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| 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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|
SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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|
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| by the
City of Alton; |
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| (26) if the ordinance was adopted on November 11, 1996 |
3 |
| by the
City of Lexington; |
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| (27) if the ordinance was adopted on November 5, 1984 |
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| by
the City of LeRoy; |
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| (28) if the ordinance was adopted on April 3, 1991 or
|
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| June 3, 1992 by the City of Markham; |
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| (29) if the ordinance was adopted on November 11, 1986 |
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| by the City of Pekin; |
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| (30) if the ordinance was adopted on December 15, 1981 |
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| by the City of Champaign; |
12 |
| (31) if the ordinance was adopted on December 15, 1986 |
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| 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 |
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| by the Village of Heyworth; |
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| (34) if the ordinance was adopted on March 16, 1995 by |
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| the Village of Heyworth; |
20 |
| (35) if the ordinance was adopted on December 23, 1986 |
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| by the Town of Cicero; |
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| (36) if the ordinance was adopted on December 30, 1986 |
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| by the City of Effingham; |
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| (37) if the ordinance was adopted on May 9, 1991 by the |
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| Village of
Tilton; |
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| (38) if the ordinance was adopted on October 20, 1986 |
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|
SB1277 Engrossed |
- 15 - |
LRB096 08385 RLJ 18497 b |
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|
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| 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 |
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| by the City of Sullivan; |
8 |
| (42) if the ordinance was adopted on December 23, 1991 |
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| 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 |
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| by the Village of Woodhull; |
20 |
| (48) if the ordinance was adopted on April 20, 1993 by |
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| the Village of Princeville; |
22 |
| (49) if the ordinance was adopted on July 1, 1986 by |
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| 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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SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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|
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| 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 |
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| by the Village of South Holland; |
8 |
| (55) if the ordinance was adopted on July 14, 1992 by |
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| 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 |
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| the City of Galesburg; |
14 |
| (58) if the ordinance was adopted on May 21, 1990 by |
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| the City of West Chicago; |
16 |
| (59) if the ordinance was adopted on December 16, 1986 |
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| by the City of Oak Forest; |
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| (60) if the ordinance was adopted in 1999 by the City |
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| of Villa Grove; |
20 |
| (61) if the ordinance was adopted on January 13, 1987 |
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| by the Village of Mt. Zion; |
22 |
| (62) if the ordinance was adopted on December 30, 1986 |
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| 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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|
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LRB096 08385 RLJ 18497 b |
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| 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 |
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| by the City of DeKalb; or |
6 |
| (67) if the ordinance was adopted on December 2, 1986 |
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| by the City of Aurora ; .
|
8 |
| (68)
(67) if the ordinance was adopted on December 31, |
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| 1986 by the Village of Milan; or |
10 |
| (69)
(68) if the ordinance was adopted on September 8, |
11 |
| 1994 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; or
|
16 |
| (72) if the ordinance was adopted on December 22, 1986 |
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| by the City of Washington to create the Washington Square |
18 |
| TIF #2.
|
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| (d) For redevelopment project areas for which bonds were |
20 |
| issued before
July 29, 1991, or for which contracts were |
21 |
| entered into before June 1,
1988, in connection with a |
22 |
| redevelopment project in the area within
the State Sales Tax |
23 |
| Boundary, the estimated dates of completion of the
|
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| redevelopment project and retirement of obligations to finance |
25 |
| redevelopment
project costs (including refunding bonds under |
26 |
| Section 11-74.4-7) may be extended by municipal ordinance to |
|
|
|
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LRB096 08385 RLJ 18497 b |
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| December 31, 2013.
The termination procedures of subsection (b) |
2 |
| of Section 11-74.4-8 are not
required for
these redevelopment |
3 |
| project areas in 2009 but are required in 2013.
The extension |
4 |
| allowed by Public Act 87-1272 shall not apply to real
property |
5 |
| tax increment allocation financing under Section 11-74.4-8. |
6 |
| (e) Those dates, for purposes of real property tax |
7 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
8 |
| only, shall be not more than 35 years
for redevelopment project |
9 |
| areas that were adopted on or after December 16,
1986 and for |
10 |
| which at least $8 million worth of municipal bonds were |
11 |
| authorized
on or after December 19, 1989 but before January 1, |
12 |
| 1990; provided that the
municipality elects to extend the life |
13 |
| of the redevelopment project area to 35
years by the adoption |
14 |
| of an ordinance after at least 14 but not more than 30
days' |
15 |
| written notice to the taxing bodies, that would otherwise |
16 |
| constitute the
joint review board for the redevelopment project |
17 |
| area, before the adoption of
the ordinance. |
18 |
| (f) Those dates, for purposes of real property tax |
19 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
20 |
| only, shall be not more than 35 years
for redevelopment project |
21 |
| areas that were established on or after December 1,
1981 but |
22 |
| before January 1, 1982 and for which at least $1,500,000 worth |
23 |
| of
tax increment revenue bonds were authorized
on or after |
24 |
| September 30, 1990 but before July 1, 1991; provided that the
|
25 |
| municipality elects to extend the life of the redevelopment |
26 |
| project area to 35
years by the adoption of an ordinance after |
|
|
|
SB1277 Engrossed |
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LRB096 08385 RLJ 18497 b |
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|
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| at least 14 but not more than 30
days' written notice to the |
2 |
| taxing bodies, that would otherwise constitute the
joint review |
3 |
| board for the redevelopment project area, before the adoption |
4 |
| of
the ordinance. |
5 |
| (g) In consolidating the material relating to completion |
6 |
| dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, |
7 |
| it is not the intent of the 95th General Assembly to make any |
8 |
| substantive change in the law, except for the extension of the |
9 |
| completion dates date for the City of Aurora , the Village of |
10 |
| Milan ,
and the City of West Frankfort , the Village of |
11 |
| Libertyville, and the Village of Hoffman Estates set forth |
12 |
| under items item (67) ,
and (68) , (69), (70), and (71) of |
13 |
| subsection (c) of this Section.
|
14 |
| (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; |
15 |
| incorporates P.A. 95-777, eff. 9-22-08, and 95-1028, eff. |
16 |
| 1-1-10; revised 1-27-09.) |
17 |
| Section 95. No acceleration or delay. Where this Act makes |
18 |
| changes in a statute that is represented in this Act by text |
19 |
| that is not yet or no longer in effect (for example, a Section |
20 |
| represented by multiple versions), the use of that text does |
21 |
| not accelerate or delay the taking effect of (i) the changes |
22 |
| made by this Act or (ii) provisions derived from any other |
23 |
| Public Act.
|
24 |
| Section 99. Effective date. This Act takes effect upon |
25 |
| becoming law.
|