IL HB4326

Amends Section 11-74.4-8b of the Illinois Municipal Code to expand recapture provisions for tax increment financing (TIF) benefits.

Requires cancellation of tax abatements or benefits granted to private entities and repayment within 30 days if the entity relocates its entire facility in violation of the agreement.

Adds new requirement that entities receiving non-tax benefits under TIF agreements that abandon or relocate facilities in violation must pay the municipality a prorated amount equal to the benefit value.

Calculates the prorated repayment based on the ratio of time elapsed from agreement date to abandonment/relocation compared to the total time from agreement date to the redevelopment plan completion date.