HB0269 Summary

• Amends the Tax Increment Allocation Redevelopment Act to extend the completion date for two redevelopment project areas established by the City of East St. Louis from 35 years to 47 years.

• Applies to redevelopment projects established on December 29, 1986 and January 23, 1991 by East St. Louis for purposes of real property tax increment allocation financing.

• Requires the City of East St. Louis to adopt an ordinance extending the life of the redevelopment project areas to 47 years.

• Requires the City of East St. Louis to provide written notice to taxing bodies that would constitute the joint review board for the redevelopment project area between 14 and 30 days prior to ordinance adoption.

• Takes effect immediately upon becoming law.