IL SB3979

Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code (65 ILCS 5/11-74.4-3.5).

Extends the estimated completion date and retirement of obligations for a redevelopment project authorized by ordinance adopted on March 18, 2002 by the City of St. Charles.

Adds St. Charles to subsection (c)(262) of the statute, allowing it to use the extended completion date provisions available to other municipalities with similar TIF projects.

Takes effect immediately upon enactment.