IL HB1889

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code by adding a new provision to 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 18, 2006 by the Village of East Alton, allowing the redevelopment project to extend its completion date and retirement of obligations.

Adds the Village of East Alton ordinance as item (189) to subsection (c) of Section 11-74.4-3.5, establishing specific completion date requirements for this municipality's TIF district.

Takes effect immediately upon becoming law.