IL HB4414

Amends the Tax Increment Allocation Redevelopment Act within the Illinois Municipal Code by modifying Section 11-74.4-3.5 regarding completion dates for redevelopment projects.

Extends the estimated dates of completion and retirement of obligations for two ordinances adopted by the City of Highland: one adopted on June 16, 2008 and another adopted on January 3, 2012.

Adds these two City of Highland ordinances as items (262) and (263) to subsection (c) of Section 11-74.4-3.5, allowing them to benefit from the same 35-calendar-year completion date extensions as other municipalities listed in that subsection.

Takes effect immediately upon enactment.