HB2372 extends the completion date for a redevelopment project in Elgin, Illinois.
HB2372 amends the Illinois Municipal Code to extend the estimated completion date and retirement of obligations for a redevelopment project in Elgin, Illinois. The bill specifies that the estimated dates of completion and retirement of obligations for the redevelopment project area, established by an ordinance adopted on April 10, 2002, may not be later than December 31 of the year in which the payment to the municipal treasurer is made with respect to ad valorem taxes levied in the 35th calendar year after the year in which the ordinance was adopted.
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