IL HB0372

Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code to add Section 11-74.4-4(q-5).

Allows the City of Waukegan to utilize revenues (excluding State sales tax increment revenues) from one redevelopment project area for eligible costs in another redevelopment project area within the city.

Applies specifically and exclusively to Waukegan redevelopment project areas, unlike the broader provisions in Section 11-74.4-4(q) which apply to contiguous or nearby areas.

Takes effect immediately upon becoming law.