Senate Sponsors: MADIGAN,R. House Sponsors: TURNER,JOHN Short description: MUNI CD-TIF BOND RETIREMENT Synopsis of Bill as introduced: Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the maturity date for tax increment financing obligations may not exceed 35 years if the ordinance approving the redevelopment project was adopted on or after December 21, 1986, but before January 1, 1987. Provides that the municipality may extend the life of the redevelopment project area to 35 years after notice to the taxing districts represented on the joint review board. Effective immediately. SENATE AMENDMENT NO. 1. Replaces the amendatory provisions to provide that the maturity date for tax increment financing obligations may not exceed 35 years if the ordinance was adopted before January 1, 1987 by a municipality in Mason County. Last action on Bill: PUBLIC ACT.............................. 91-0261 Last action date: 99-07-23 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status