IL SB2100

Amends the Tax Increment Allocation Redevelopment Act to change how initial equalized assessed value (EAV) is calculated when a developer manipulates property conditions before TIF designation

Requires using the EAV from the original purchase date (rather than current value) if a developer or related entity purchases 3 or more improved properties in a redevelopment area within 3 years before the TIF ordinance is adopted and then demolishes or renders uninhabitable any improvement on those properties

Applies to purchases made by developers, their parent companies, wholly-owned subsidiaries, or any combination thereof

Prevents developers from artificially lowering the TIF baseline by demolishing buildings after purchase to reduce assessed values before TIF adoption

Applies only to TIF ordinances adopted after the effective date of this amendatory act