HB4600 Summary

• Requires tax bills to list each taxing district affected by revenues received by a tax increment financing (TIF) district, in addition to existing TIF district information.

• Revises the definition of "blighted area" to require that a reasonable person would conclude each factor is present to a meaningful extent and is reasonably distributed throughout the area, with public intervention necessary to address it.

• Prohibits any area within another redevelopment project area from being designated as a blighted area.

• Establishes a mandatory 10-year reevaluation requirement for municipalities to determine if redevelopment project areas designated as blighted areas still meet that status, with redesignation or termination based on findings.

• Limits municipalities' ability to jointly undertake redevelopment plans or utilize revenues in contiguous redevelopment project areas to properties within one mile of where project areas are contiguous or separated by public rights-of-way or forest preserve property.