HB4766 99TH GENERAL ASSEMBLY

LRB099 18014 AWJ 42377 b

99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB4766

Introduced , by Rep. Jim Durkin

SYNOPSIS AS INTRODUCED:

65 ILCS 46/5-5

Amends the Municipal Validation Law of 2002. Makes a technical change in a Section concerning redevelopment actions.

A BILL FOR

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Municipal Validation Law of 2002 is amended by changing Section 5-5 as follows:

(65 ILCS 46/5-5)

Sec. 5-5. Redevelopment actions; validation. All actions taken before the the effective date of this Law by any municipality pursuant to the Tax Increment Allocation Redevelopment Act for purposes of approving a redevelopment plan and redevelopment project, designating a redevelopment project area, and adopting tax increment allocation financing are validated, ratified, and confirmed as valid actions in full force and effect as of the date of adoption of the ordinance of the municipality approving the redevelopment plan and project, notwithstanding that an ordinance designating the redevelopment project area was not adopted on that date and an ordinance adopting tax increment allocation financing was not adopted on that date, provided that, no later than 180 days after the effective date of this Law, the governing body of the municipality adopts an ordinance designating the redevelopment project area and an ordinance adopting tax increment allocation financing for the redevelopment project area.

(Source: P.A. 92-884, eff. 1-13-03.)