IL SB2713

Amends the Tax Increment Allocation Redevelopment Act by extending the estimated completion date and obligation retirement deadline for the City of Prophetstown's Redevelopment Project Area No. 1, established by ordinance on August 18, 2002.

Extends the completion dates to December 31 of the year in which payment is made with respect to ad valorem taxes levied in the 35th calendar year after the ordinance's adoption year (instead of earlier deadlines).

Adds Prophetstown's TIF as item (253) to subsection (c) of Section 11-74.4-3.5 of the Illinois Municipal Code.

Effective immediately upon enactment.