Illinois HB 1441: HEALTH PROS-ADVERTISING W-TITL

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HB1441 EnrolledLRB104 06683 BAB 16719 b

1 AN ACT concerning local government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Municipal Code is amended by 

5changing Section 11-74.4-3.5 as follows:

6 (65 ILCS 5/11-74.4-3.5)

7 Sec. 11-74.4-3.5. Completion dates for redevelopment 

8projects.

9 (a) Unless otherwise stated in this Section, the estimated 

10dates of completion of the redevelopment project and 

11retirement of obligations issued to finance redevelopment 

12project costs (including refunding bonds under Section 

1311-74.4-7) may not be later than December 31 of the year in 

14which the payment to the municipal treasurer, as provided in 

15subsection (b) of Section 11-74.4-8 of this Act, is to be made 

16with respect to ad valorem taxes levied in the 23rd calendar 

17year after the year in which the ordinance approving the 

18redevelopment project area was adopted if the ordinance was 

19adopted on or after January 15, 1981.

20 (a-5) If the redevelopment project area is located within 

21a transit facility improvement area established pursuant to 

22Section 11-74.4-3, the estimated dates of completion of the 

23redevelopment project and retirement of obligations issued to 

HB1441 Enrolled- 2 -LRB104 06683 BAB 16719 b

1finance redevelopment project costs (including refunding bonds 

2under Section 11-74.4-7) may not be later than December 31 of 

3the year in which the payment to the municipal tre