HB4789 Summary

• Amends the Illinois Municipal Code to extend tax increment allocation (TIF) financing completion dates for the Village of Crestwood's ordinance adopted on May 2, 2002.

• Adds Crestwood to subsection (c)(113) of Section 11-74.4-3.5, allowing its redevelopment project completion date to extend to December 31 of the year in which payments are made with respect to ad valorem taxes levied in the 35th calendar year after the ordinance adoption.

• Takes effect immediately upon becoming law.