Bill Status of HB0713 100th General Assembly
Short Description: MUNI CD-TIF REDEVELOPMENT PLAN
Rep. Linda Chapa LaVia
| 3/31/2017||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Revises the definition of "redevelopment project costs" by providing that redevelopment project costs for a redevelopment project area includes all or a portion of a taxing district's capital or operating costs (currently, only capital costs) resulting from the redevelopment project reasonably incurred (currently, necessarily incurred) or to be incurred within a taxing district as a result of the redevelopment plan and project (currently, incurred within a taxing district in furtherance of the objectives of the redevelopment plan and project). Removes a requirement that the municipality, by written agreement, accept and approve these costs.