Beginning in fiscal year 2011 and in each fiscal year thereafter, a municipality must detail in its annual budget (i) the revenues generated from economic development project areas by source and (ii) the expenditures made by the municipality for economic development project areas.
65 ILCS 110/74
Requirement for annual budget
Known as the Economic Development Project Area Tax Increment Allocation Act
The act spans §§ 65-110-1 to 65-110-75 (20 sections).
P.A. 96-1335, eff. 7-27-10.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.