SB3134 Summary

• Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code to add the City of Chillicothe to the list of municipalities with extended TIF completion dates.

• Extends the estimated completion date and retirement of obligations for a redevelopment project under an ordinance adopted on April 12, 1999 by the City of Chillicothe to the 35th calendar year after adoption instead of earlier deadlines.

• Becomes effective immediately upon enactment.