IL HB4890

Amends the Municipal Validation Law of 2002 by modifying Section 5-5 (65 ILCS 46/5-5) concerning redevelopment actions.

Validates all municipal actions taken before the law's effective date related to Tax Increment Allocation Redevelopment Act implementation, including approval of redevelopment plans, designation of project areas, and adoption of tax increment allocation financing.

Validates such actions as effective from the date the municipality adopted its redevelopment plan ordinance, even if the project area designation and tax increment allocation financing ordinances were adopted later.

Requires municipalities to adopt ordinances designating the redevelopment project area and establishing tax increment allocation financing within 180 days of the law's effective date for actions to remain valid.