IL SB2052

Amends Section 11-74.4-3.5 of the Illinois Municipal Code regarding completion dates for tax increment financing (TIF) redevelopment projects.

Establishes different completion date deadlines based on when municipalities adopted their redevelopment project ordinances, ranging from 23 to 35 years, with specific exceptions for transit facility improvement areas (35 years) and certain municipalities (28-47 years).

Adds new completion date provisions for redevelopment projects in transit facility improvement areas that overlap with previously established TIF areas, allowing municipalities to sequentially apply TIF provisions to each designated area.

Specifies extended deadlines for numerous individual Illinois municipalities and cities with designated TIF districts, identified by specific ordinance adoption dates and district names.

Takes effect upon becoming law.