HB 570

Abstract

Amends the Use Tax Act. Makes a technical change in a Section concerning the short title. House Floor Amendment No. 1 Deletes reference to: 35 ILCS 105/1 from Ch. 120, par. 439.1 Adds reference to: 65 ILCS 5/11-74.4-3.5 Replaces everything after the enacting clause. Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Creates tax increment allocation financing extensions for ordinances adopted on February 5, 2002 by the City of Highwood and on June 1, 1997 by the City of Flora. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after the adoption of the ordinance on December 31, 1986 by the Village of Cahokia. Requires adoption of an ordinance extending that completion date and providing notice to the taxing bodies that would otherwise constitute the joint review board. Creates a tax increment allocation financing extension to the 47th year (currently, the 35th year) after the adoption of the ordinance of December 20, 1986 by the City of Charleston. Requires adoption of an ordinance extending that completion date and providing notice to the taxing bodies that would otherwise constitute the joint review board. Effective immediately.