MUNI CD-TIF-TRANSIT FACILITY

Amends the Illinois Municipal Code. Creates a Section in the Tax Increment Allocation Redevelopment Act concerning redevelopment projects within a transit facility improvement area. Provides that an ordinance approving a transit facility improvement area redevelopment project expires the 50th calendar year after the date approving the ordinance was adopted. Sets forth percentages of taxes to be allocated toward transit facility improvement area redevelopment projects. Defines required terms.