IL HB0294

Amends the Tax Increment Allocation Redevelopment Act to require the joint review board to appoint one of its members to preside over public hearings held on or after the effective date of this amendatory act when the formation of a joint review board is required.

Requires municipalities to make redevelopment plans and eligibility reports available for public inspection at least 10 days prior to adoption of an ordinance establishing the time and place for a public hearing.

Mandates municipalities print notice in newspapers of general circulation allowing interested persons to register for information on proposed redevelopment project area designations or redevelopment plan approvals.

Establishes procedures for joint review board review of redevelopment plans and project areas, including requirements for written reports, recommendations, and timelines for board meetings and submissions.

Requires municipalities to submit information electronically to the State Comptroller and affected taxing districts regarding redevelopment project areas, including amendments, financial statements, audit reports, property purchases, and activities undertaken in furtherance of redevelopment plans.