91st General Assembly
Summary of SB1025
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Senate Sponsors:
CLAYBORNE-WALSH,L.

House Sponsors:
NOVAK-HOLBROOK

Short description: 
TIF-EAST ST LOUIS EXTENSION                                                

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 December      
   29, 1986 by East St. Louis.  Effective immediately.                         
        HOUSE AMENDMENT NO. 1.                                                 
        Provides that the  maturity  date  for  tax  increment  financing      
   obligations  may  not  exceed  35 years if the ordinance approving the      
   redevelopment project was adopted in December 1983, December 1989,  or      
   on October 5, 1982 by the City of Kankakee.                                 
        HOUSE AMENDMENT NO. 2.                                                 
        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 November 12, 1991 by the      
   Village of Sauget.                                                          
 
Last action on Bill: PUBLIC ACT.............................. 91-0477

   Last action date: 99-08-11

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   0


   END OF INQUIRY 



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