Bill > HB2137

This bill makes a technical amendment to the Economic Development Project Area Tax Increment Allocation Act of 1995, specifically targeting Section 1 of the law. While the details of the specific change are not fully visible in the provided XML document, the government summary suggests it is a minor modification to the short title of the act. Tax increment allocation acts are typically used by local governments to fund economic development projects by using future gains in taxes to subsidize current improvements, which are expected to generate the increased tax revenues. In this case, the bill appears to be making a technical correction to the existing legislation, likely to clarify or update some language in the act's introductory section.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2137&GAID=18&DocTypeID=HB&SessionID=114&GA=104