SB0085 restricts the extension of redevelopment project areas in Illinois.
SB0085 amends the Tax Increment Allocation Redevelopment Act to restrict the extension of redevelopment project areas. It sets maximum durations for these areas based on when they were established and requires municipalities to submit written support to extend them. The bill specifies conditions for extending the life of redevelopment project areas, including notice periods and compliance with certain laws. It also outlines the process for municipalities to follow when seeking extensions.
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