Bill > SB1050

This bill makes a technical amendment to the Economic Development Project Area Tax Increment Allocation Act of 1995, specifically targeting Section 1 of the Act. While the details of the specific change are not clear from the provided XML document, the bill appears to be making a minor modification to the law's language. Tax Increment Allocation Acts are typically used by local governments to fund infrastructure and development projects by capturing the increased property tax revenue that results from improvements in a designated area. In this case, the bill seems to be making a technical or clarifying change to the Act's short title or introductory section, though without more context, the precise nature of the change cannot be definitively stated.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1050&GAID=18&DocTypeID=SB&SessionID=114&GA=104