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Bill Status of SB1990 96th General Assembly Short Description: TIF-BUDGET-CITIZEN REVIEW Senate Sponsors Sen. Michael Noland Last Action
Statutes Amended In Order of Appearance
Synopsis As Introduced Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that annual revenues in excess of the budget for a redevelopment project area must be returned to the affected taxing districts. Provides that all redevelopment project areas must be approved by a majority vote of each county board and the governing authorities of the other taxing districts with boundaries that overlap the proposed redevelopment project area. Requires a municipality to create a citizen review panel for any redevelopment project area created by a municipality. Provides that a municipality must seek the advice of the citizen review panel concerning the budget and goals for redevelopment project areas. Actions
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