90th General Assembly
Summary of SB1219
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Senate Sponsors:

Short description: 
MUN CD-REDVLP-ADD PARCEL-ADJST                                             

Synopsis of Bill as introduced:
        Amends  the  Illinois  Municipal  Code.   Provides  that   if   a      
   municipality  obtains  ownership  of  additional  parcels  within  any      
   redevelopment project area within 2 years of adoption of the ordinance      
   establishing  tax  increment  financing,  the municipality's ownership      
   would result in an exemption under the Section  of  the  Property  Tax      
   Code concerning taxing district property, and certain other conditions      
   are  met,  the  equalized  assessed value of all taxable real property      
   within  the  redevelopment  area   shall   be   adjusted.    Effective      
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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