HB 4423 — MUNI CD TIF-OAK FOREST

HB4423 EngrossedEnrolled LRB099 15773 AWJ 40079 b AN ACT concerning local government.

(b) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the HB4423 EngrossedEnrolled - 2 - LRB099 15773 AWJ 40079 b year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 32nd calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on September 9, 1999 by the Village of Downs.

HB4423 EngrossedEnrolled - 3 - LRB099 15773 AWJ 40079 b (c) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 35th calendar year after the year in which the ordinance approving the redevelopment project area was adopted:

(7) If the ordinance was adopted on December 31, 1986 by a municipality located in Clinton County for which at least $250,000 of tax increment bonds were authorized on HB4423 EngrossedEnrolled - 4 - LRB099 15773 AWJ 40079 b June 17, 1997, or if the ordinance was adopted on December 31, 1986 by a municipality with a population in 1990 of less than 3,600 that is located in a county with a population in 1990 of less than 34,000 and for which at least $250,000 of tax increment bonds were authorized on June 17, 1997.

(17) If the ordinance was adopted on December 22, 1986 HB4423 EngrossedEnrolled - 5 - LRB099 15773 AWJ 40079 b by the City of Aledo.

HB4423 EngrossedEnrolled - 6 - LRB099 15773 AWJ 40079 b (30) If the ordinance was adopted on December 15, 1981 by the City of Champaign.

HB4423 EngrossedEnrolled - 7 - LRB099 15773 AWJ 40079 b (43) If the ordinance was adopted on December 31, 1986 by the City of Oglesby.

HB4423 EngrossedEnrolled - 8 - LRB099 15773 AWJ 40079 b (56) If the ordinance was adopted on December 29, 1986 by the City of Galesburg.

HB4423 EngrossedEnrolled - 9 - LRB099 15773 AWJ 40079 b (69) If the ordinance was adopted on September 8, 1994 by the City of West Frankfort.

HB4423 EngrossedEnrolled - 10 - LRB099 15773 AWJ 40079 b (81) If the ordinance was adopted on December 29, 1986 by the City of Pontiac to create TIF II (the Interstate TIF).

HB4423 EngrossedEnrolled - 11 - LRB099 15773 AWJ 40079 b (91) If the ordinance was adopted on February 12, 2001 by the Village of Crete.

HB4423 EngrossedEnrolled - 12 - LRB099 15773 AWJ 40079 b (104) If the ordinance was adopted on December 14, 1998 by the City of Carlyle.

(113) If the ordinance was adopted on January 11, 1991 by the City of Chicago to create the Read/Dunning TIF HB4423 EngrossedEnrolled - 13 - LRB099 15773 AWJ 40079 b District.

HB4423 EngrossedEnrolled - 14 - LRB099 15773 AWJ 40079 b (126) (125) If the ordinance was adopted on May 8, 2013 by the Village of Rosemont to create the Higgins Road/River Road TIF District No.

The termination procedures of subsection (b) of Section 11-74.4-8 are not required for these redevelopment HB4423 EngrossedEnrolled - 15 - LRB099 15773 AWJ 40079 b project areas in 2009 but are required in 2013.

provided that the municipality elects to extend the life of the redevelopment project area to 35 years by the adoption of an ordinance after at least 14 but not more than 30 days' written notice to the taxing bodies, that would otherwise constitute the joint review HB4423 EngrossedEnrolled - 16 - LRB099 15773 AWJ 40079 b board for the redevelopment project area, before the adoption of the ordinance.