IL HB1910

Amends the Illinois Municipal Code Section 11-74.4-3.5 to modify completion dates and retirement timelines for tax increment financing (TIF) redevelopment projects and their associated bonds.

Establishes a 35-year completion deadline for TIF projects in transit facility improvement areas, extending from the standard 23-year period to allow longer financing timeframes for transit-related developments.

Permits municipalities to establish overlapping TIF areas where new transit facility improvement area TIFs can include property within previously established TIFs, with procedures for dissolving the older TIF designations.

Contains 146 specific exceptions for individual municipalities with custom completion date extensions, ranging from 28 to 47 years depending on adoption dates and bond authorization amounts.

Allows the City of Springfield a 47-year completion period for redevelopment projects established on December 29, 1981, subject to adoption of an extension ordinance and notice to affected taxing bodies.