IL HB2362

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code to add the Village of Sherman's Route 66 Crossing TIF District to the list of TIF projects with extended completion dates.

Establishes that the Village of Sherman's ordinance adopted on October 13, 1999 creating the Route 66 Crossing TIF District may have its completion and obligation retirement dates extended to December 31 of the year of payment with respect to ad valorem taxes levied in the 35th calendar year after the ordinance adoption.

Takes effect immediately upon becoming law.