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1 | AN ACT concerning local government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The River Edge Redevelopment Zone Act is amended | ||||||||||||||||||||||||||
5 | by changing Section 10-10 and by adding Section 10-10.1 as | ||||||||||||||||||||||||||
6 | follows: | ||||||||||||||||||||||||||
7 | (65 ILCS 115/10-10)
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8 | Sec. 10-10. Income tax deduction. | ||||||||||||||||||||||||||
9 | (a) A business entity may receive a deduction against | ||||||||||||||||||||||||||
10 | income subject to State taxes for a contribution to a | ||||||||||||||||||||||||||
11 | designated zone organization if the project for which the | ||||||||||||||||||||||||||
12 | contribution is made has been specifically approved by the | ||||||||||||||||||||||||||
13 | designating municipality and by the Department. | ||||||||||||||||||||||||||
14 | (a-5) A public utility may receive a deduction against | ||||||||||||||||||||||||||
15 | income subject to State taxes for (i) a contribution to a | ||||||||||||||||||||||||||
16 | designated zone organization for costs of installing, | ||||||||||||||||||||||||||
17 | replacing, modifying, removing, improving, or maintaining any | ||||||||||||||||||||||||||
18 | substation facility located within the River Edge | ||||||||||||||||||||||||||
19 | Redevelopment Zone or (ii) the costs incurred by the public | ||||||||||||||||||||||||||
20 | utility of installing, replacing, modifying, improving, or | ||||||||||||||||||||||||||
21 | maintaining any substation facility located within the River | ||||||||||||||||||||||||||
22 | Edge Redevelopment Zone if the project for which the costs are | ||||||||||||||||||||||||||
23 | incurred has been specifically approved by the designating |
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1 | municipality and by the Department of Commerce and Economic | ||||||
2 | Opportunity. | ||||||
3 | A public utility shall recover the costs of installing, | ||||||
4 | replacing, modifying, improving, removing, or maintaining its | ||||||
5 | facilities located within the River Edge Redevelopment Zone | ||||||
6 | across all customers in its service territory rather than only | ||||||
7 | customers within the municipality where the Zone is located. | ||||||
8 | (b) Any designated zone organization seeking to have a | ||||||
9 | project approved for contribution must submit an application to | ||||||
10 | the Department describing the nature and benefit of the project | ||||||
11 | and its potential contributors.
The application must address | ||||||
12 | how the following criteria will be met: | ||||||
13 | (1) The project must contribute to the self-help | ||||||
14 | efforts of the residents of the area involved. | ||||||
15 | (2) The project must involve the residents of the area | ||||||
16 | in planning and implementing the project. | ||||||
17 | (3) The project must lack sufficient resources. | ||||||
18 | (4) The designated zone organization must be fiscally | ||||||
19 | responsible for the project. | ||||||
20 | (c) The project must enhance the River Edge Redevelopment | ||||||
21 | Zone in one of the following ways: | ||||||
22 | (1) by creating permanent jobs; | ||||||
23 | (2) by physically improving the housing stock; | ||||||
24 | (3) by stimulating neighborhood business activity; or | ||||||
25 | (4) by preventing crime. | ||||||
26 | (d) If the designated zone organization demonstrates its |
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1 | ability to meet the criteria in subsection (b), and the project | ||||||
2 | will enhance the neighborhood in one of the ways listed in | ||||||
3 | subsection (c), the Department shall approve the | ||||||
4 | organization's proposed project and specify the amount of | ||||||
5 | contributions it is eligible to receive for such project. | ||||||
6 | Comments from State elected officials and municipal officials | ||||||
7 | of the units of local government in which all or part of the | ||||||
8 | river edge redevelopment zone is located, or in which the | ||||||
9 | project is proposed to be located, shall be solicited by the | ||||||
10 | Department in making such decision. | ||||||
11 | (e) Within 45 days of the receipt of an application, the | ||||||
12 | Department shall give notice to the applicant as to whether the | ||||||
13 | application has been approved or disapproved. If the Department | ||||||
14 | disapproves the application, it shall specify the reasons for | ||||||
15 | this decision and allow 60 days for the applicant to amend and | ||||||
16 | resubmit its application. The Department shall provide | ||||||
17 | assistance upon request to applicants. Resubmitted | ||||||
18 | applications shall receive the Department's approval or | ||||||
19 | disapproval within 30 days of resubmission. Those resubmitted | ||||||
20 | applications satisfying initial Department objectives shall be | ||||||
21 | approved unless reasonable circumstances warrant disapproval. | ||||||
22 | (f) On an annual basis, the designated zone organization | ||||||
23 | shall furnish a statement to the Department on the programmatic | ||||||
24 | and financial status of any approved project and an audited | ||||||
25 | financial statement of the project. | ||||||
26 | (g) For any project which is approved and for which there |
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1 | is a specified amount of contributions which the designated | ||||||
2 | zone organization may receive as provided in subsection (d) of | ||||||
3 | this Section, the designated zone organization shall provide to | ||||||
4 | the Department any information necessary to determine the | ||||||
5 | eligibility of a contribution to the project for a deduction | ||||||
6 | pursuant to subsection (b)(2)(N) of Section 203 of the Illinois | ||||||
7 | Income Tax Act. The Department shall certify to the Department | ||||||
8 | of Revenue the taxpayers eligible for and the amounts of | ||||||
9 | contributions which those taxpayers may claim as a deduction | ||||||
10 | pursuant to subsection (b)(2)(N) of Section 203 of the Illinois | ||||||
11 | Income Tax Act. The total of all actual contributions approved | ||||||
12 | by the Department for deductions pursuant to subsection | ||||||
13 | (b)(2)(N) of Section 203 of the Illinois Income Tax Act shall | ||||||
14 | not exceed $15,400,000 in any one calendar year.
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15 | (Source: P.A. 94-1021, eff. 7-12-06.) | ||||||
16 | (65 ILCS 115/10-10.1 new) | ||||||
17 | Sec. 10-10.1. Utility facilities. | ||||||
18 | (a) It remains the policy of the State that the cost of | ||||||
19 | supplying public utility services is allocated to those who | ||||||
20 | cause the costs to be incurred. This policy requires an entity | ||||||
21 | engaging in economic redevelopment to pay all costs to relocate | ||||||
22 | utility facilities on property that the utility owns in areas | ||||||
23 | that have been designated for economic redevelopment. It is, | ||||||
24 | however, in the public interest that costs for the River Edge | ||||||
25 | Redevelopment Zone impacting utility property that are covered |
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1 | by subsection (b) not be allocated solely to the entity | ||||||
2 | engaging in economic redevelopment, as this economic | ||||||
3 | redevelopment benefits the utility service territory as a whole | ||||||
4 | and not just the particular area where the redevelopment | ||||||
5 | occurs. | ||||||
6 | (b) This Section applies to the costs of installing, | ||||||
7 | removing, replacing, relocating, modifying, or maintaining | ||||||
8 | utility facilities in the River Edge Redevelopment Zone if the | ||||||
9 | public utility meets one or more of the following requirements: | ||||||
10 | (1) The public utility's facilities are located within | ||||||
11 | an area designated for economic redevelopment by a unit of | ||||||
12 | local government; | ||||||
13 | (2) The public utility's facilities are located within | ||||||
14 | an area subject to tax increment financing; | ||||||
15 | (3) The public utility's facilities are located within | ||||||
16 | an area that qualifies as a transit-oriented development; | ||||||
17 | (4) The public utility's facilities are located within | ||||||
18 | an area that can be redeveloped in a manner that combats | ||||||
19 | urban sprawl; or | ||||||
20 | (5) The costs connected with the public utility's | ||||||
21 | facilities exceed funds available to the project through | ||||||
22 | tax increment financing that could be otherwise used for | ||||||
23 | these purposes. | ||||||
24 | (c) The Illinois Commerce Commission shall allow a utility | ||||||
25 | providing services under this Section to fully recover all | ||||||
26 | costs of environmental remediation, installing, removing, |
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1 | replacing, relocating, modifying, or maintaining utility | ||||||
2 | facilities in the River Edge Redevelopment Zone from all | ||||||
3 | customers in its service territory. The public utility may | ||||||
4 | defer any and all operation and maintenance expenditures | ||||||
5 | connected with the River Edge Redevelopment Zone, and amortize | ||||||
6 | them in a rate proceeding following the expenditure.
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7 | Section 99. Effective date. This Act takes effect upon | ||||||
8 | becoming law.
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