Bill Status of SB1777 102nd General Assembly
Short Description: MUNI CD-TIF SURPLUS FUNDS
Sen. Laura M. Murphy
| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Provides that all surplus funds in the special tax allocation fund shall be distributed as soon as possible after they are calculated (rather than distributed annually within 180 days after the close of the municipality's fiscal year).