summary
Introduced
02/05/2026
02/05/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Tax Increment Allocation Redevelopment Act of the Illinois Municipal Code. Extends the estimated date of completion of a redevelopment project and the retirement of obligations issued to finance redevelopment project costs for an ordinance adopted on January 1, 2006 by the City of Paris. Effective immediately.
AI Summary
This bill amends the Illinois Municipal Code, specifically concerning Tax Increment Allocation Redevelopment Acts, to extend the estimated completion date for a redevelopment project and the retirement of associated financing obligations for an ordinance adopted by the City of Paris on January 1, 2006, which established the Jasper TIF Area. This extension is being made to the existing law that sets deadlines for such projects, often referred to as Tax Increment Financing (TIF) districts, which are areas where property tax revenue generated by new development is used to fund further redevelopment within that area. The bill takes effect immediately upon becoming law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue (on 02/17/2026)
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