IL HB4995

Requires voter approval by referendum in all affected taxing districts before a municipality can adopt an ordinance designating a redevelopment project area, with the referendum held at a regularly scheduled election at least 79 days after the ordinance fixing the public hearing date.

Mandates that the ordinance fixing the public hearing time and place must also initiate the referendum submission process, and requires the referendum to be approved by a majority of voters in each affected taxing district.

Modifies notice requirements to include publication by mail, certified mail to all registered voters in affected taxing districts, and posting on the municipality's website at least 30 days before the referendum election date.

Requires notices to include a copy of the proposed ordinance designating the redevelopment project area, a list of all taxes levied by each taxing district on the joint review board, a statement of projected impact on those taxing districts, and the proposed referendum language.

Takes effect immediately upon enactment.