Illinois HB1222 limits the extension of redevelopment projects under the Tax Increment Allocation Redevelopment Act.
HB1222 amends the Illinois Municipal Code to restrict the extension of redevelopment projects and the retirement of obligations beyond the 35th calendar year after the ordinance approving the project was adopted. The bill specifies that the General Assembly will not approve extensions beyond this limit. It also details specific dates for certain redevelopment projects, ensuring they do not extend past these limits unless certain conditions are met.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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