HB 4694

Abstract

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. In provisions concerning the approval of a redevelopment plan or redevelopment project area, requires that the joint review board's recommendation concerning the project shall be adopted by a three-fifths majority (now, majority) of the those members present and voting. Further provides that the failure of the board to submit its report on a timely basis shall not (now, shall) be deemed to constitute approval by the joint review board. Provides that in the event the board does not file its report, it shall be presumed that the redevelopment project area and plan do not satisfy (now, do satisfy) certain objectives, requirements, and eligibility criteria. In provisions concerning a resubmitted plan or amendment, prohibits a municipality from proceeding with a plan or amendment if the plan or amendment is rejected by a three-fifths vote of the board. Authorizes the corporate authority responsible for the plan or amendment's approval to approve the plan or amendment by a three-fifths vote if it is rejected by less than a three-fifths vote of the board.