IL SB3010

Extends the estimated completion date for a Tax Increment Financing (TIF) redevelopment project in the Village of Summit originally established by ordinance on July 1, 2003

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

Extends the deadline for retiring obligations issued to finance redevelopment project costs for the Summit TIF district

Bill takes effect immediately upon becoming law

Introduced January 27, 2026 by Senator Mike Porfirio