HB2683 Summary

• Amends the Illinois Municipal Code to extend tax increment allocation (TIF) financing completion dates for the Village of Fairmont City for ordinances adopted on August 4, 1999 and October 20, 1999.

• Adds two new subsections (143) and (144) to Section 11-74.4-3.5 to specify extended completion dates for Fairmont City's redevelopment project areas under the 35-year real property tax increment financing provisions.

• Makes technical corrections to existing statute language, including removing references to "amendatory Act of the 99th General Assembly" and replacing with specific Public Act citations and dates.

• Becomes effective immediately upon becoming law.