65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-74.4-8b

(65 ILCS 5/11-74.4-8b)

Sec. 11-74.4-8b.

Cancellation and repayment of tax and other benefits.

Any tax abatement or benefit granted by a taxing district under an agreement
entered into under this
Act to a private individual or entity for the purpose of originating, locating,
maintaining, rehabilitating, or expanding a business facility shall be
cancelled if the individual or entity relocated its entire facility in
violation of the agreement, and the amount of the abatements or tax benefits
granted before the cancellation shall be repaid to the taxing district within
30 days, as provided in Section 18-183 of the Property Tax Code.

In addition, any private individual or entity that receives other benefits under this Act for the purpose of originating, locating,
maintaining, rehabilitating, or expanding a business facility and that abandons or relocates its facility in violation of the agreement shall pay to the municipality an amount equal to the value of the benefit prorated based on (i) the time from the date of the agreement to the date of abandonment or relocation; compared to (ii) the time from the date of the agreement to the date upon which the redevelopment plan must be completed, determined at the time of the agreement.

(Source: P.A. 96-324, eff. 1-1-10.)

65 ILCS 5/11-74.4-8c

(65 ILCS 5/11-74.4-8c)

Sec. 11-74.4-8c.

Enterprise zone abatements.

If a redevelopment project
area is or has been established under Section 11-74.4-4 on or before the
effective
date
of this amendatory Act of 1997 and the redevelopment project area contains
property that is located within an enterprise zone established under the
Illinois
Enterprise Zone Act, then the property that is located in both the
redevelopment
project area and the enterprise zone shall not be eligible for the abatement of
taxes under Section 18-170 of the Property Tax Code if the requirements of
Section 5.4.1 of the Illinois Enterprise Zone Act are satisfied.
If an abatement is limited under Section 5.4.1 of the Illinois Enterprise
Zone Act, a municipality
shall notify the county clerk and the board of review or board of appeals of
the change in writing not later than July 1 of the assessment year to be first
affected by the change.

(Source: P.A. 90-258, eff. 7-30-97.)

65 ILCS 5/11-74.4-8d

(65 ILCS 5/11-74.4-8d)

Sec. 11-74.4-8d. Website postings; municipalities of 1,000,000 or more.

(a) In any municipality with a population of 1,000,000 or more, the following shall be posted on a website maintained by the municipality:

(1) Any ordinance designating a redevelopment project

area or approving a redevelopment plan, redevelopment project, or redevelopment agreement pursuant to this Division 74.4, including all attachments, and any amendments thereto.

(2) Written staff reports presented to a board

created in subsection (k) of Section 11-74.4-4.

(3) The information required to be submitted pursuant

to subsection (d) of Section 11-74.4-5 and any other overviews prepared by the municipality relating to redevelopment or financing pursuant to this Division 74.4.

(4) Any certificates of completion issued by the

municipality or annual employment certifications received by the municipality pursuant to a redevelopment agreement.

(b) Except as provided in subsection (c), all ordinances described in paragraph (1) of subsection (a) of this Section shall be made available on the website within 7 business days after the ordinance is passed and published by the municipality.  Except as provided in subsection (c), all documents described in paragraphs (2), (3), and (4) of subsection (a) of this Section shall be made available on the website within 14 business days after the document has been completed in final form.

(c) The requirements of this Section apply with respect to any redevelopment project area designated or amended on or after July 30, 2004.  The ordinances and documents that passed or were completed prior to the effective date of this amendatory Act of the 96th General Assembly shall be made available on the website no later than 30 days after that effective date.

(Source: P.A. 96-773, eff. 8-28-09.)

65 ILCS 5/11-74.4-9

(65 ILCS 5/11-74.4-9)

(from Ch. 24, par. 11-74.4-9)

Sec. 11-74.4-9. Equalized assessed value of property.

(a) If a municipality by ordinance provides for tax
increment allocation financing pursuant to Section 11-74.4-8, the county clerk
immediately thereafter shall determine (1) the most recently ascertained
equalized assessed value of each lot, block, tract or parcel of real property
within such redevelopment project area from which shall be deducted the
homestead exemptions under Article 15 of the Property
Tax Code, which value shall be the "initial equalized assessed value" of each
such piece of property, and (2) the total equalized assessed value of all
taxable real property within such redevelopment project area by adding together
the most recently ascertained equalized assessed value of each taxable lot,
block, tract, or parcel of real property within such project area, from which
shall be deducted the homestead exemptions provided by Sections 15-170,

15-175, and 15-176 of the Property Tax Code, and shall certify such amount
as the "total
initial equalized assessed value" of the taxable real property within such
project area.

(b) In reference to any municipality which has adopted tax increment
financing after January 1, 1978, and in respect to which the county clerk
has certified the "total initial equalized assessed value" of the property
in the redevelopment area, the municipality may thereafter request the clerk
in writing to adjust the initial equalized value of all taxable real property
within the redevelopment project area by deducting therefrom the exemptions under Article 15 of the
Property Tax Code applicable
to each lot, block, tract or parcel of real property within such redevelopment
project area.  The county clerk shall immediately after the written request to
adjust the total initial equalized value is received determine the total
homestead exemptions in the redevelopment project area provided by Sections
15-170, 15-175, and 15-176 of the Property Tax Code by adding
together the homestead
exemptions provided by said Sections
on each lot, block, tract or parcel of real property within such redevelopment
project area and then shall deduct the total of said exemptions from the total
initial equalized assessed value.  The county clerk shall then promptly certify
such amount as the "total initial equalized assessed value as adjusted" of the
taxable real property within such redevelopment project area.

(c) After the county clerk has certified the "total initial
equalized assessed value" of the taxable real property in such area, then
in respect to every taxing district containing a redevelopment project area,
the county clerk or any other official required by law to ascertain the amount
of the equalized assessed value of all taxable property within such district
for the purpose of computing the rate per cent of tax to be extended upon
taxable property within such district, shall in every year that tax increment
allocation financing is in effect ascertain the amount of value of taxable
property in a redevelopment project area by including in such amount the lower
of the current equalized assessed value or the certified "total initial
equalized assessed value" of all taxable real property in such area, except
that after he has certified the "total initial equalized assessed value as
adjusted" he shall in the year of said certification if tax rates have not been
extended and in every year thereafter that tax increment allocation financing
is in effect ascertain the amount of value of taxable property in a
redevelopment project area by including in such amount the lower of the current
equalized assessed value or the certified "total initial equalized assessed
value as adjusted" of all taxable real property in such area. The rate per cent
of tax determined shall be extended to the current equalized assessed value of
all property in the redevelopment project area in the same manner as the rate
per cent of tax is extended to all other taxable property in the taxing
district.  The method of extending taxes established under this Section shall
terminate when the municipality adopts an ordinance dissolving the special tax
allocation fund for the redevelopment project area. This Division shall not be
construed as relieving property owners within a redevelopment project area from
paying a uniform rate of taxes upon the current equalized assessed value of
their taxable property as provided in the Property Tax Code.

(Source: P.A. 95-644, eff. 10-12-07.)

65 ILCS 5/11-74.4-10

(65 ILCS 5/11-74.4-10) (from Ch. 24, par. 11-74.4-10)

Sec. 11-74.4-10.

Revenues received by the municipality from any property,
building or facility owned, leased or operated by the municipality or any
agency or authority established by the municipality, or from repayments of
loans,
may be used to pay redevelopment
project costs, or reduce outstanding obligations of the municipality incurred
under this Division for redevelopment project costs.  The municipality may
place such revenues in the special tax allocation fund which shall be held
by the municipal treasurer or other person designated by the municipality.
Revenue received by the municipality from the sale or other disposition
of real property acquired by the municipality with the proceeds of obligations
funded by tax increment allocation financing shall be deposited by the
municipality
in the special tax allocation fund.

(Source: P.A. 93-298, eff. 7-23-03.)