Bill > HB2138

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 specific details of the technical change are not fully visible in the provided XML, the bill appears to be making a minor modification to the short title or language of the section. Tax Increment Allocation Acts are typically local government financing tools that allow municipalities to fund public improvements by capturing the increased property tax revenue generated within a designated development area. Such technical amendments are common to clarify legal language, correct errors, or update terminology to ensure the law remains precise and functional.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2138&GAID=18&DocTypeID=HB&SessionID=114&GA=104