Illinois HB3693 amends the Tax Increment Allocation Redevelopment Act to set specific completion dates for redevelopment projects in various.
Illinois HB3693 amends the Tax Increment Allocation Redevelopment Act by setting specific completion dates for redevelopment projects in various Illinois municipalities. The bill details the dates by which redevelopment projects must be completed and obligations retired for different areas, depending on when the ordinance approving the redevelopment project area was adopted. These dates vary from the 15th to the 47th calendar year after the adoption of the ordinance. The bill also specifies conditions under which certain redevelopment projects can be extended beyond these dates.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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