IL HB2826

Amends the Illinois Municipal Code to extend the completion date for the City of Washington's Washington Square TIF #2 redevelopment project area from 35 years to 47 years for real property tax increment allocation financing purposes.

Requires the City of Washington to adopt an ordinance extending the redevelopment project area's life to 47 years and provide notice to taxing bodies that would constitute the joint review board 14-30 days before adoption.

Adds new subsection (f-3) to Section 11-74.4-3.5 of the Illinois Municipal Code to codify this specific extension for the Washington Square TIF #2 established on December 22, 1986.

Also extends the completion date for the City of Springfield's redevelopment project area (established December 29, 1981) from 35 years to 47 years under similar conditions in new subsection (f-5).