SB2600 Summary

• Amends the Tax Increment Allocation Redevelopment Act to extend the redevelopment project completion deadline for the City of Gibson City's TIF district created by ordinance on April 28, 2003.

• Changes the completion deadline from the 23rd year after ordinance adoption to the 35th year after ordinance adoption (extending the deadline by 12 years).

• Completion date for the Gibson City redevelopment project and retirement of related obligations is now December 31 of the 35th calendar year after the ordinance was adopted.

• Takes effect immediately upon becoming law.