HB2365 Summary

• Amends the Illinois Municipal Code to add Mount Pulaski to the list of municipalities with specific tax increment financing (TIF) completion date provisions under Section 11-74.4-3.5.

• Allows the City of Mount Pulaski, which adopted a redevelopment project ordinance on February 22, 2000, to extend the estimated completion date and retirement of TIF obligations to the 35th calendar year after ordinance adoption.

• Grants Mount Pulaski the same completion date authority as other similarly situated municipalities already listed in the statute.

• Takes effect upon becoming law.