HB5753 Summary

• Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code to extend completion dates for a redevelopment project in the Village of Valmeyer.

• Extends the estimated date of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs for an ordinance adopted on September 19, 2000 by the Village of Valmeyer.

• Adds the Village of Valmeyer ordinance as item (222) to Section 11-74.4-3.5, making it subject to the same completion date provisions as other specified municipalities.

• Takes effect immediately upon becoming law.