IL SB1927

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code by modifying Section 11-74.4-3.5 regarding completion dates for redevelopment projects.

Creates a tax increment allocation financing extension for an ordinance adopted on April 10, 2002 by the Village of Durand, extending the completion date to December 31 of the year in which ad valorem tax payments are made in the 35th calendar year after the ordinance adoption.

Adds the Village of Durand ordinance as item (170) to the list of municipalities with specific TIF completion date provisions in subsection (c).

Takes effect immediately upon becoming law.