Senate Sponsors: WEAVER-PARKER-WELCH. House Sponsors: HAMOS-MAY-WINTERS-SLONE-COULSON Short description: PROP TX-REAL ESTATE TRANSFER Synopsis of Bill as introduced: Amends the Tax Increment Allocation Redeveloment Act in the Illinois Municipal Code. Makes a technical change in a Section concerning the issuance of obligations to provide for redevelopment project costs. SENATE AMENDMENT NO. 1. Adds reference to: 65 ILCS 5/11-74.4-3 from Ch. 24, par. 11-74.4-3 Deletes everything after the enacting clause. Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the redevelopment project in the TIF District created by an ordinance adopted on December 22, 1986 by the City of Tuscola must be completed by December 31 of the 35th year (now, the 23rd year) after the year in which the ordinance was adopted. Effective immediately. HOUSE AMENDMENT NO. 2. Deletes reference to: 65 ILCS 5/11-74.4-3 65 ILCS 5/11-74.4-7 Adds reference to: 35 ILCS 200/31-35 Deletes everything after the enacting clause. Amends the Property Tax Code. Changes the distribution of real estate transfer tax proceeds. Effective July 1, 2003. Last action on Bill: PUBLIC ACT.............................. 92-0874 Last action date: JAN-03-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status