Bill Text: IL SB0696 | 2023-2024 | 103rd 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 dates of completion of redevelopment projects and the retirement of obligations issued to finance redevelopment project costs for various ordinances adopted by the Village of Bourbonnais, City of Geneva, Village of Downers Grove, City of Chicago, and Village of Fox River Grove. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after the adoption of the ordinance of March 30, 1992 by the Village of Ohio. Requires adoption of an ordinance by the Village of Ohio extending the completion date of the redevelopment project area to 47 years and providing notice to the taxing bodies that would otherwise constitute the joint review board. Effective immediately.

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Passed) 2023-12-08 - Public Act . . . . . . . . . 103-0575 [SB0696 Detail]

Download: Illinois-2023-SB0696-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB0696 Introduced 2/2/2023, by Sen. Don Harmon SYNOPSIS AS INTRODUCED:
50 ILCS 60/1
Amends the Local Volunteer Board Member Removal Act. Makes a technical change in a Section concerning the short title.
LRB103 03149 AWJ 48155 b
A BILL FOR
SB0696 LRB103 03149 AWJ 48155 b
AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Local Volunteer Board Member Removal Act is
amended by changing Section 1 as follows:
(50 ILCS 60/1)
Sec. 1. Short title. This Act may be cited as the the Local
Volunteer Board Member Removal Act.
(Source: P.A. 102-602, eff. 8-27-21.)