IL HB4458

Extends the completion date for a Tax Increment Financing (TIF) redevelopment project in the City of Spring Valley originally adopted by ordinance on July 31, 2006.

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

Extends the deadline for retiring obligations issued to finance the redevelopment project costs, including refunding bonds.

Takes effect immediately upon becoming law.