HB4507 EnrolledLRB100 12294 RJF 24865 b

1    AN ACT concerning government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Retailers' Occupation Tax Act is amended by
5changing Section 1f as follows:
 
6    (35 ILCS 120/1f)  (from Ch. 120, par. 440f)
7    Sec. 1f. Except for High Impact Businesses, the exemption
8stated in Sections 1d and 1e of this Act shall only apply to
9business enterprises which:
10        (1) either (i) make investments which cause the
11    creation of a minimum of 200 full-time equivalent jobs in
12    Illinois or (ii) make investments which cause the retention
13    of a minimum of 2000 full-time jobs in Illinois or (iii)
14    make investments of a minimum of $40,000,000 and retain at
15    least 90% of the jobs in place on the date on which the
16    exemption is granted and for the duration of the exemption;
17    and
18        (2) are located in an Enterprise Zone established
19    pursuant to the Illinois Enterprise Zone Act; and
20        (3) are certified by the Department of Commerce and
21    Economic Opportunity as complying with the requirements
22    specified in clauses (1) and (2).
23    In addition, from March 1, 2010 to July 31, 2012, the

 

 

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1exemption stated in Sections 1d and 1e of this Act shall also
2apply to a business enterprise that (i) complied with the
3requirements specified in clause (1) above as of March 1, 2010,
4(ii) receives certification from the Department of Commerce and
5Economic Opportunity, (iii) was a Department of Commerce and
6Economic Opportunity certified business enterprise in 2009,
7and (iv) retained a minimum of 500 full-time equivalent jobs in
8Illinois in 2009 and 2010, 675 full-time equivalent jobs in
9Illinois in 2011, 850 full-time equivalent jobs in Illinois in
102012, and 1,000 full-time equivalent jobs in Illinois in 2013;
11those jobs must have been created in the manufacturing sector
12as defined by the North American Industry Classification
13System.
14    Any business enterprise seeking to avail itself of the
15exemptions stated in Sections 1d or 1e, or both, shall make
16application to the Department of Commerce and Economic
17Opportunity in such form and providing such information as may
18be prescribed by the Department of Commerce and Economic
19Opportunity. However, no business enterprise shall be
20required, as a condition for certification under clause (3) (4)
21of this Section, to attest that its decision to invest under
22clause (1) of this Section and to locate under clause (2) of
23this Section is predicated upon the availability of the
24exemptions authorized by Sections 1d or 1e.
25    The Department of Commerce and Economic Opportunity shall
26determine whether the business enterprise meets the criteria

 

 

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1prescribed in this Section. If the Department of Commerce and
2Economic Opportunity determines that such business enterprise
3meets the criteria, it shall issue a certificate of eligibility
4for exemption to the business enterprise in such form as is
5prescribed by the Department of Revenue. The Department of
6Commerce and Economic Opportunity shall act upon such
7certification requests within 60 days after receipt of the
8application, and shall file with the Department of Revenue a
9copy of each certificate of eligibility for exemption.
10    The Department of Commerce and Economic Opportunity shall
11have the power to promulgate rules and regulations to carry out
12the provisions of this Section including the power to define
13the amounts and types of eligible investments not specified in
14this Section which business enterprises must make in order to
15receive the exemptions stated in Sections 1d and 1e of this
16Act; and to require that any business enterprise that is
17granted a tax exemption repay the exempted tax if the business
18enterprise fails to comply with the terms and conditions of the
19certification.
20    Such certificate of eligibility for exemption shall be
21presented by the business enterprise to its supplier when
22making the initial purchase of tangible personal property for
23which an exemption is granted by Section 1d or Section 1e, or
24both, together with a certification by the business enterprise
25that such tangible personal property is exempt from taxation
26under Section 1d or Section 1e and by indicating the exempt

 

 

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1status of each subsequent purchase on the face of the purchase
2order.
3    The Department of Commerce and Economic Opportunity shall
4determine the period during which such exemption from the taxes
5imposed under this Act is in effect which shall not exceed 20
6years.
7(Source: P.A. 98-463, eff. 8-16-13.)
 
8    Section 10. The Illinois Municipal Code is amended by
9changing Section 11-74.4-3.5 as follows:
 
10    (65 ILCS 5/11-74.4-3.5)
11    Sec. 11-74.4-3.5. Completion dates for redevelopment
12projects.
13    (a) Unless otherwise stated in this Section, the estimated
14dates of completion of the redevelopment project and retirement
15of obligations issued to finance redevelopment project costs
16(including refunding bonds under Section 11-74.4-7) may not be
17later than December 31 of the year in which the payment to the
18municipal treasurer, as provided in subsection (b) of Section
1911-74.4-8 of this Act, is to be made with respect to ad valorem
20taxes levied in the 23rd calendar year after the year in which
21the ordinance approving the redevelopment project area was
22adopted if the ordinance was adopted on or after January 15,
231981.
24    (a-5) If the redevelopment project area is located within a

 

 

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1transit facility improvement area established pursuant to
2Section 11-74.4-3, the estimated dates of completion of the
3redevelopment project and retirement of obligations issued to
4finance redevelopment project costs (including refunding bonds
5under Section 11-74.4-7) may not be later than December 31 of
6the year in which the payment to the municipal treasurer, as
7provided in subsection (b) of Section 11-74.4-8 of this Act, is
8to be made with respect to ad valorem taxes levied in the 35th
9calendar year after the year in which the ordinance approving
10the redevelopment project area was adopted.
11    (a-7) A municipality may adopt tax increment financing for
12a redevelopment project area located in a transit facility
13improvement area that also includes real property located
14within an existing redevelopment project area established
15prior to August 12, 2016 (the effective date of Public Act
1699-792). In such case: (i) the provisions of this Division
17shall apply with respect to the previously established
18redevelopment project area until the municipality adopts, as
19required in accordance with applicable provisions of this
20Division, an ordinance dissolving the special tax allocation
21fund for such redevelopment project area and terminating the
22designation of such redevelopment project area as a
23redevelopment project area; and (ii) after the effective date
24of the ordinance described in (i), the provisions of this
25Division shall apply with respect to the subsequently
26established redevelopment project area located in a transit

 

 

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1facility improvement area.
2    (b) The estimated dates of completion of the redevelopment
3project and retirement of obligations issued to finance
4redevelopment project costs (including refunding bonds under
5Section 11-74.4-7) may not be later than December 31 of the
6year in which the payment to the municipal treasurer as
7provided in subsection (b) of Section 11-74.4-8 of this Act is
8to be made with respect to ad valorem taxes levied in the 32nd
9calendar year after the year in which the ordinance approving
10the redevelopment project area was adopted if the ordinance was
11adopted on September 9, 1999 by the Village of Downs.
12    The estimated dates of completion of the redevelopment
13project and retirement of obligations issued to finance
14redevelopment project costs (including refunding bonds under
15Section 11-74.4-7) may not be later than December 31 of the
16year in which the payment to the municipal treasurer as
17provided in subsection (b) of Section 11-74.4-8 of this Act is
18to be made with respect to ad valorem taxes levied in the 33rd
19calendar year after the year in which the ordinance approving
20the redevelopment project area was adopted if the ordinance was
21adopted on May 20, 1985 by the Village of Wheeling.
22    The estimated dates of completion of the redevelopment
23project and retirement of obligations issued to finance
24redevelopment project costs (including refunding bonds under
25Section 11-74.4-7) may not be later than December 31 of the
26year in which the payment to the municipal treasurer as

 

 

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1provided in subsection (b) of Section 11-74.4-8 of this Act is
2to be made with respect to ad valorem taxes levied in the 28th
3calendar year after the year in which the ordinance approving
4the redevelopment project area was adopted if the ordinance was
5adopted on October 12, 1989 by the City of Lawrenceville.
6    (c) The estimated dates of completion of the redevelopment
7project and retirement of obligations issued to finance
8redevelopment project costs (including refunding bonds under
9Section 11-74.4-7) may not be later than December 31 of the
10year in which the payment to the municipal treasurer as
11provided in subsection (b) of Section 11-74.4-8 of this Act is
12to be made with respect to ad valorem taxes levied in the 35th
13calendar year after the year in which the ordinance approving
14the redevelopment project area was adopted:
15        (1) If the ordinance was adopted before January 15,
16    1981.
17        (2) If the ordinance was adopted in December 1983,
18    April 1984, July 1985, or December 1989.
19        (3) If the ordinance was adopted in December 1987 and
20    the redevelopment project is located within one mile of
21    Midway Airport.
22        (4) If the ordinance was adopted before January 1, 1987
23    by a municipality in Mason County.
24        (5) If the municipality is subject to the Local
25    Government Financial Planning and Supervision Act or the
26    Financially Distressed City Law.

 

 

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1        (6) If the ordinance was adopted in December 1984 by
2    the Village of Rosemont.
3        (7) If the ordinance was adopted on December 31, 1986
4    by a municipality located in Clinton County for which at
5    least $250,000 of tax increment bonds were authorized on
6    June 17, 1997, or if the ordinance was adopted on December
7    31, 1986 by a municipality with a population in 1990 of
8    less than 3,600 that is located in a county with a
9    population in 1990 of less than 34,000 and for which at
10    least $250,000 of tax increment bonds were authorized on
11    June 17, 1997.
12        (8) If the ordinance was adopted on October 5, 1982 by
13    the City of Kankakee, or if the ordinance was adopted on
14    December 29, 1986 by East St. Louis.
15        (9) If the ordinance was adopted on November 12, 1991
16    by the Village of Sauget.
17        (10) If the ordinance was adopted on February 11, 1985
18    by the City of Rock Island.
19        (11) If the ordinance was adopted before December 18,
20    1986 by the City of Moline.
21        (12) If the ordinance was adopted in September 1988 by
22    Sauk Village.
23        (13) If the ordinance was adopted in October 1993 by
24    Sauk Village.
25        (14) If the ordinance was adopted on December 29, 1986
26    by the City of Galva.

 

 

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1        (15) If the ordinance was adopted in March 1991 by the
2    City of Centreville.
3        (16) If the ordinance was adopted on January 23, 1991
4    by the City of East St. Louis.
5        (17) If the ordinance was adopted on December 22, 1986
6    by the City of Aledo.
7        (18) If the ordinance was adopted on February 5, 1990
8    by the City of Clinton.
9        (19) If the ordinance was adopted on September 6, 1994
10    by the City of Freeport.
11        (20) If the ordinance was adopted on December 22, 1986
12    by the City of Tuscola.
13        (21) If the ordinance was adopted on December 23, 1986
14    by the City of Sparta.
15        (22) If the ordinance was adopted on December 23, 1986
16    by the City of Beardstown.
17        (23) If the ordinance was adopted on April 27, 1981,
18    October 21, 1985, or December 30, 1986 by the City of
19    Belleville.
20        (24) If the ordinance was adopted on December 29, 1986
21    by the City of Collinsville.
22        (25) If the ordinance was adopted on September 14, 1994
23    by the City of Alton.
24        (26) If the ordinance was adopted on November 11, 1996
25    by the City of Lexington.
26        (27) If the ordinance was adopted on November 5, 1984

 

 

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1    by the City of LeRoy.
2        (28) If the ordinance was adopted on April 3, 1991 or
3    June 3, 1992 by the City of Markham.
4        (29) If the ordinance was adopted on November 11, 1986
5    by the City of Pekin.
6        (30) If the ordinance was adopted on December 15, 1981
7    by the City of Champaign.
8        (31) If the ordinance was adopted on December 15, 1986
9    by the City of Urbana.
10        (32) If the ordinance was adopted on December 15, 1986
11    by the Village of Heyworth.
12        (33) If the ordinance was adopted on February 24, 1992
13    by the Village of Heyworth.
14        (34) If the ordinance was adopted on March 16, 1995 by
15    the Village of Heyworth.
16        (35) If the ordinance was adopted on December 23, 1986
17    by the Town of Cicero.
18        (36) If the ordinance was adopted on December 30, 1986
19    by the City of Effingham.
20        (37) If the ordinance was adopted on May 9, 1991 by the
21    Village of Tilton.
22        (38) If the ordinance was adopted on October 20, 1986
23    by the City of Elmhurst.
24        (39) If the ordinance was adopted on January 19, 1988
25    by the City of Waukegan.
26        (40) If the ordinance was adopted on September 21, 1998

 

 

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1    by the City of Waukegan.
2        (41) If the ordinance was adopted on December 31, 1986
3    by the City of Sullivan.
4        (42) If the ordinance was adopted on December 23, 1991
5    by the City of Sullivan.
6        (43) If the ordinance was adopted on December 31, 1986
7    by the City of Oglesby.
8        (44) If the ordinance was adopted on July 28, 1987 by
9    the City of Marion.
10        (45) If the ordinance was adopted on April 23, 1990 by
11    the City of Marion.
12        (46) If the ordinance was adopted on August 20, 1985 by
13    the Village of Mount Prospect.
14        (47) If the ordinance was adopted on February 2, 1998
15    by the Village of Woodhull.
16        (48) If the ordinance was adopted on April 20, 1993 by
17    the Village of Princeville.
18        (49) If the ordinance was adopted on July 1, 1986 by
19    the City of Granite City.
20        (50) If the ordinance was adopted on February 2, 1989
21    by the Village of Lombard.
22        (51) If the ordinance was adopted on December 29, 1986
23    by the Village of Gardner.
24        (52) If the ordinance was adopted on July 14, 1999 by
25    the Village of Paw Paw.
26        (53) If the ordinance was adopted on November 17, 1986

 

 

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1    by the Village of Franklin Park.
2        (54) If the ordinance was adopted on November 20, 1989
3    by the Village of South Holland.
4        (55) If the ordinance was adopted on July 14, 1992 by
5    the Village of Riverdale.
6        (56) If the ordinance was adopted on December 29, 1986
7    by the City of Galesburg.
8        (57) If the ordinance was adopted on April 1, 1985 by
9    the City of Galesburg.
10        (58) If the ordinance was adopted on May 21, 1990 by
11    the City of West Chicago.
12        (59) If the ordinance was adopted on December 16, 1986
13    by the City of Oak Forest.
14        (60) If the ordinance was adopted in 1999 by the City
15    of Villa Grove.
16        (61) If the ordinance was adopted on January 13, 1987
17    by the Village of Mt. Zion.
18        (62) If the ordinance was adopted on December 30, 1986
19    by the Village of Manteno.
20        (63) If the ordinance was adopted on April 3, 1989 by
21    the City of Chicago Heights.
22        (64) If the ordinance was adopted on January 6, 1999 by
23    the Village of Rosemont.
24        (65) If the ordinance was adopted on December 19, 2000
25    by the Village of Stone Park.
26        (66) If the ordinance was adopted on December 22, 1986

 

 

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1    by the City of DeKalb.
2        (67) If the ordinance was adopted on December 2, 1986
3    by the City of Aurora.
4        (68) If the ordinance was adopted on December 31, 1986
5    by the Village of Milan.
6        (69) If the ordinance was adopted on September 8, 1994
7    by the City of West Frankfort.
8        (70) If the ordinance was adopted on December 23, 1986
9    by the Village of Libertyville.
10        (71) If the ordinance was adopted on December 22, 1986
11    by the Village of Hoffman Estates.
12        (72) If the ordinance was adopted on September 17, 1986
13    by the Village of Sherman.
14        (73) If the ordinance was adopted on December 16, 1986
15    by the City of Macomb.
16        (74) If the ordinance was adopted on June 11, 2002 by
17    the City of East Peoria to create the West Washington
18    Street TIF.
19        (75) If the ordinance was adopted on June 11, 2002 by
20    the City of East Peoria to create the Camp Street TIF.
21        (76) If the ordinance was adopted on August 7, 2000 by
22    the City of Des Plaines.
23        (77) If the ordinance was adopted on December 22, 1986
24    by the City of Washington to create the Washington Square
25    TIF #2.
26        (78) If the ordinance was adopted on December 29, 1986

 

 

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1    by the City of Morris.
2        (79) If the ordinance was adopted on July 6, 1998 by
3    the Village of Steeleville.
4        (80) If the ordinance was adopted on December 29, 1986
5    by the City of Pontiac to create TIF I (the Main St TIF).
6        (81) If the ordinance was adopted on December 29, 1986
7    by the City of Pontiac to create TIF II (the Interstate
8    TIF).
9        (82) If the ordinance was adopted on November 6, 2002
10    by the City of Chicago to create the Madden/Wells TIF
11    District.
12        (83) If the ordinance was adopted on November 4, 1998
13    by the City of Chicago to create the Roosevelt/Racine TIF
14    District.
15        (84) If the ordinance was adopted on June 10, 1998 by
16    the City of Chicago to create the Stony Island
17    Commercial/Burnside Industrial Corridors TIF District.
18        (85) If the ordinance was adopted on November 29, 1989
19    by the City of Chicago to create the Englewood Mall TIF
20    District.
21        (86) If the ordinance was adopted on December 27, 1986
22    by the City of Mendota.
23        (87) If the ordinance was adopted on December 31, 1986
24    by the Village of Cahokia.
25        (88) If the ordinance was adopted on September 20, 1999
26    by the City of Belleville.

 

 

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1        (89) If the ordinance was adopted on December 30, 1986
2    by the Village of Bellevue to create the Bellevue TIF
3    District 1.
4        (90) If the ordinance was adopted on December 13, 1993
5    by the Village of Crete.
6        (91) If the ordinance was adopted on February 12, 2001
7    by the Village of Crete.
8        (92) If the ordinance was adopted on April 23, 2001 by
9    the Village of Crete.
10        (93) If the ordinance was adopted on December 16, 1986
11    by the City of Champaign.
12        (94) If the ordinance was adopted on December 20, 1986
13    by the City of Charleston.
14        (95) If the ordinance was adopted on June 6, 1989 by
15    the Village of Romeoville.
16        (96) If the ordinance was adopted on October 14, 1993
17    and amended on August 2, 2010 by the City of Venice.
18        (97) If the ordinance was adopted on June 1, 1994 by
19    the City of Markham.
20        (98) If the ordinance was adopted on May 19, 1998 by
21    the Village of Bensenville.
22        (99) If the ordinance was adopted on November 12, 1987
23    by the City of Dixon.
24        (100) If the ordinance was adopted on December 20, 1988
25    by the Village of Lansing.
26        (101) If the ordinance was adopted on October 27, 1998

 

 

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1    by the City of Moline.
2        (102) If the ordinance was adopted on May 21, 1991 by
3    the Village of Glenwood.
4        (103) If the ordinance was adopted on January 28, 1992
5    by the City of East Peoria.
6        (104) If the ordinance was adopted on December 14, 1998
7    by the City of Carlyle.
8        (105) If the ordinance was adopted on May 17, 2000, as
9    subsequently amended, by the City of Chicago to create the
10    Midwest Redevelopment TIF District.
11        (106) If the ordinance was adopted on September 13,
12    1989 by the City of Chicago to create the Michigan/Cermak
13    Area TIF District.
14        (107) If the ordinance was adopted on March 30, 1992 by
15    the Village of Ohio.
16        (108) If the ordinance was adopted on July 6, 1998 by
17    the Village of Orangeville.
18        (109) If the ordinance was adopted on December 16, 1997
19    by the Village of Germantown.
20        (110) If the ordinance was adopted on April 28, 2003 by
21    Gibson City.
22        (111) If the ordinance was adopted on December 18, 1990
23    by the Village of Washington Park, but only after the
24    Village of Washington Park becomes compliant with the
25    reporting requirements under subsection (d) of Section
26    11-74.4-5, and after the State Comptroller's certification

 

 

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1    of such compliance.
2        (112) If the ordinance was adopted on February 28, 2000
3    by the City of Harvey.
4        (113) If the ordinance was adopted on January 11, 1991
5    by the City of Chicago to create the Read/Dunning TIF
6    District.
7        (114) If the ordinance was adopted on July 24, 1991 by
8    the City of Chicago to create the Sanitary and Ship Canal
9    TIF District.
10        (115) If the ordinance was adopted on December 4, 2007
11    by the City of Naperville.
12        (116) If the ordinance was adopted on July 1, 2002 by
13    the Village of Arlington Heights.
14        (117) If the ordinance was adopted on February 11, 1991
15    by the Village of Machesney Park.
16        (118) If the ordinance was adopted on December 29, 1993
17    by the City of Ottawa.
18        (119) If the ordinance was adopted on June 4, 1991 by
19    the Village of Lansing.
20        (120) If the ordinance was adopted on February 10, 2004
21    by the Village of Fox Lake.
22        (121) If the ordinance was adopted on December 22, 1992
23    by the City of Fairfield.
24        (122) If the ordinance was adopted on February 10, 1992
25    by the City of Mt. Sterling.
26        (123) If the ordinance was adopted on March 15, 2004 by

 

 

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1    the City of Batavia.
2        (124) If the ordinance was adopted on March 18, 2002 by
3    the Village of Lake Zurich.
4        (125) If the ordinance was adopted on September 23,
5    1997 by the City of Granite City.
6        (126) If the ordinance was adopted on May 8, 2013 by
7    the Village of Rosemont to create the Higgins Road/River
8    Road TIF District No. 6.
9        (127) If the ordinance was adopted on November 22, 1993
10    by the City of Arcola.
11        (128) If the ordinance was adopted on September 7, 2004
12    by the City of Arcola.
13        (129) If the ordinance was adopted on November 29, 1999
14    by the City of Paris.
15        (130) If the ordinance was adopted on September 20,
16    1994 by the City of Ottawa to create the U.S. Route 6 East
17    Ottawa TIF.
18        (131) If the ordinance was adopted on May 2, 2002 by
19    the Village of Crestwood.
20        (132) If the ordinance was adopted on October 27, 1992
21    by the City of Blue Island.
22        (133) If the ordinance was adopted on December 23, 1993
23    by the City of Lacon.
24        (134) If the ordinance was adopted on May 4, 1998 by
25    the Village of Bradford.
26        (135) If the ordinance was adopted on June 11, 2002 by

 

 

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1    the City of Oak Forest.
2        (136) If the ordinance was adopted on November 16, 1992
3    by the City of Pinckneyville.
4        (137) If the ordinance was adopted on March 1, 2001 by
5    the Village of South Jacksonville.
6        (138) If the ordinance was adopted on February 26, 1992
7    by the City of Chicago to create the Stockyards Southeast
8    Quadrant TIF District.
9        (139) If the ordinance was adopted on January 25, 1993
10    by the City of LaSalle.
11        (140) If the ordinance was adopted on December 23, 1997
12    by the Village of Dieterich.
13        (141) If the ordinance was adopted on February 10, 2016
14    by the Village of Rosemont to create the Balmoral/Pearl TIF
15    No. 8 Tax Increment Financing Redevelopment Project Area.
16        (142) If the ordinance was adopted on June 11, 2002 by
17    the City of Oak Forest.
18        (143) If the ordinance was adopted on January 31, 1995
19    by the Village of Milledgeville.
20        (144) (143) If the ordinance was adopted on February 5,
21    1996 by the Village of Pearl City.
22        (145) (143) If the ordinance was adopted on December
23    21, 1994 by the City of Calumet City.
24        (146) If the ordinance was adopted on January 30, 1996
25    by the City of Madison.
26    (d) For redevelopment project areas for which bonds were

 

 

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1issued before July 29, 1991, or for which contracts were
2entered into before June 1, 1988, in connection with a
3redevelopment project in the area within the State Sales Tax
4Boundary, the estimated dates of completion of the
5redevelopment project and retirement of obligations to finance
6redevelopment project costs (including refunding bonds under
7Section 11-74.4-7) may be extended by municipal ordinance to
8December 31, 2013. The termination procedures of subsection (b)
9of Section 11-74.4-8 are not required for these redevelopment
10project areas in 2009 but are required in 2013. The extension
11allowed by Public Act 87-1272 shall not apply to real property
12tax increment allocation financing under Section 11-74.4-8.
13    (e) Those dates, for purposes of real property tax
14increment allocation financing pursuant to Section 11-74.4-8
15only, shall be not more than 35 years for redevelopment project
16areas that were adopted on or after December 16, 1986 and for
17which at least $8 million worth of municipal bonds were
18authorized on or after December 19, 1989 but before January 1,
191990; provided that the municipality elects to extend the life
20of the redevelopment project area to 35 years by the adoption
21of an ordinance after at least 14 but not more than 30 days'
22written notice to the taxing bodies, that would otherwise
23constitute the joint review board for the redevelopment project
24area, before the adoption of the ordinance.
25    (f) Those dates, for purposes of real property tax
26increment allocation financing pursuant to Section 11-74.4-8

 

 

HB4507 Enrolled- 21 -LRB100 12294 RJF 24865 b

1only, shall be not more than 35 years for redevelopment project
2areas that were established on or after December 1, 1981 but
3before January 1, 1982 and for which at least $1,500,000 worth
4of tax increment revenue bonds were authorized on or after
5September 30, 1990 but before July 1, 1991; provided that the
6municipality elects to extend the life of the redevelopment
7project area to 35 years by the adoption of an ordinance after
8at least 14 but not more than 30 days' written notice to the
9taxing bodies, that would otherwise constitute the joint review
10board for the redevelopment project area, before the adoption
11of the ordinance.
12    (f-5) Those dates, for purposes of real property tax
13increment allocation financing pursuant to Section 11-74.4-8
14only, shall be not more than 47 years for redevelopment project
15areas that were established on December 29, 1981 by the City of
16Springfield; provided that (i) the City of Springfield adopts
17an ordinance extending the life of the redevelopment project
18area to 47 years and (ii) the City of Springfield provides
19notice to the taxing bodies that would otherwise constitute the
20joint review board for the redevelopment project area not more
21than 30 and not less than 14 days prior to the adoption of that
22ordinance.
23    (g) In consolidating the material relating to completion
24dates from Sections 11-74.4-3 and 11-74.4-7 into this Section,
25it is not the intent of the General Assembly to make any
26substantive change in the law, except for the extension of the

 

 

HB4507 Enrolled- 22 -LRB100 12294 RJF 24865 b

1completion dates for the City of Aurora, the Village of Milan,
2the City of West Frankfort, the Village of Libertyville, and
3the Village of Hoffman Estates set forth under items (67),
4(68), (69), (70), and (71) of subsection (c) of this Section.
5(Source: P.A. 99-78, eff. 7-20-15; 99-136, eff. 7-24-15;
699-263, eff. 8-4-15; 99-361, eff. 1-1-16; 99-394, eff. 8-18-15;
799-495, eff. 12-17-15; 99-508, eff. 6-24-16; 99-792, eff.
88-12-16; 100-201, eff. 8-18-17; 100-214, eff. 8-18-17;
9100-249, eff. 8-22-17; 100-510, eff. 9-15-17; revised
1010-2-17.)
 
11    Section 99. Effective date. This Act takes effect upon
12becoming law.