IL HB2372

Extends the completion date for a Tax Increment Financing (TIF) redevelopment project in the City of Elgin that was established by ordinance on April 10, 2002

Allows the estimated date of project completion and retirement of financing obligations to extend to the 35th calendar year after the original ordinance adoption (rather than the standard 23-year limit)

Adds the Elgin "Central Area TIF Redevelopment Project Area" to the list of TIF districts receiving special extension treatment under Illinois law

Amends Section 11-74.4-3.5 of the Tax Increment Allocation Redevelopment Act within the Illinois Municipal Code