MUNI CD-BUS DIST DEVLPMNT PLAN Senate SponsorsSen. James F. Clayborne, Jr. House Sponsors(Rep. Arthur L. Turner-Dan Reitz-Robert S. Molaro-Jay C. Hoffman-Angelo Saviano, Kenneth Dunkin, Steve Davis, Kurt M. Granberg, Robin Kelly, Calvin L. Giles, Thomas Holbrook, Wyvetter H. Younge and Lovana Jones) 1/11/2005SenateSession Sine Die 65 ILCS 5/11-74.3-3from Ch. 24, par. 11-74.3-365 ILCS 5/11-74.3-5 new65 ILCS 5/11-74.3-6 newAmends the Illinois Municipal Code. Authorizes a municipality carrying out a business district development or redevelopment plan to impose a tax on the retail sale of tangible personal property and the sale or charge for a sleeping room, not to exceed 1% of the selling price of the tangible personal property or the charge for the sleeping room and only to be imposed in 0.25% increments. Requires a municipality imposing these taxes to follow certain additional procedures in applying for designation as a business district and approval of a business district development or redevelopment plan. Requires that the revenue generated by the tax be deposited into the municipality's Business District Tax Allocation Fund. Authorizes a municipality to issue obligations in one or more series bearing interest at rates determined by the corporate authorities of the municipality by ordinance and secured by the Business District Tax Allocation Fund. Requires the ordinance (i) to pledge any amounts in and to be deposited into the Business District Tax Allocation Fund for the payment of business district costs and obligations and (ii) to contain certain recitals. Authorizes the public or private sale of the obligations and the issuance of obligations to refund previously issued obligations. Upon payment of all business district costs, requires all surplus funds to be deposited into the general corporate fund. Requires the corporate authorities of the municipality to adopt an ordinance immediately rescinding the tax when all business district costs and obligations have been paid. Effective immediately.House Amendment No. 1 Adds reference to:65 ILCS 5/8-11-6afrom Ch. 24, par. 8-11-6aDeletes everything. Amends the Illinois Municipal Code. Authorizes a municipality carrying out a business district development or redevelopment plan to impose a retailers' occupation tax, a service occupation tax, and a hotel operators' occupation tax. Requires a municipality imposing these taxes to follow certain additional procedures in applying for designation as a business district and approval of a business district development or redevelopment plan. Requires that the revenue generated by the tax be deposited into the municipality's Business District Tax Allocation Fund. Authorizes a municipality to issue obligations in one or more series bearing interest at rates determined by the corporate authorities of the municipality by ordinance and secured by the Business District Tax Allocation Fund. Requires the ordinance (i) to pledge any amounts in and to be deposited into the Business District Tax Allocation Fund for the payment of business district costs and obligations and (ii) to contain certain recitals. Authorizes the public or private sale of the obligations and the issuance of obligations to refund previously issued obligations. Upon payment of all business district costs, requires all surplus funds to be deposited into the general corporate fund. Requires the corporate authorities of the municipality to adopt an ordinance immediately rescinding the tax when all business district costs and obligations have been paid. Effective January 1, 2005. 2/6/2004SenateFiled with Secretary by Sen. James F. Clayborne, Jr. 2/6/2004SenateFirst Reading 2/6/2004SenateReferred to Rules 2/18/2004SenateAssigned to Local Government 2/24/2004SenateDo Pass Local Government; 008-001-000 2/24/2004SenatePlaced on Calendar Order of 2nd Reading February 25, 2004 2/25/2004SenateSecond Reading 2/25/2004SenatePlaced on Calendar Order of 3rd Reading February 26, 2004 3/26/2004SenateThird Reading - Passed; 045-012-000 3/26/2004HouseArrived in House 3/26/2004HousePlaced on Calendar Order of First Reading 4/2/2004HouseChief House Sponsor Rep. Dan Reitz 4/2/2004HouseFirst Reading 4/2/2004HouseReferred to Rules Committee 4/30/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2004 5/4/2004HouseAssigned to Revenue Committee 5/4/2004HouseMotion to Suspend Rule 25 - Prevailed 5/5/2004HouseAlternate Chief Sponsor Changed to Rep. Arthur L. Turner 5/5/2004HouseAdded Alternate Chief Co-Sponsor Rep. Dan Reitz 5/5/2004HouseAdded Alternate Chief Co-Sponsor Rep. Robert S. Molaro 5/5/2004HouseAdded Alternate Chief Co-Sponsor Rep. Jay C. Hoffman 5/5/2004HouseAdded Alternate Chief Co-Sponsor Rep. Angelo Saviano 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Kenneth Dunkin 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Steve Davis 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Kurt M. Granberg 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Robin Kelly 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Calvin L. Giles 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Thomas Holbrook 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Wyvetter H. Younge 5/5/2004HouseAdded Alternate Co-Sponsor Rep. Lovana Jones 5/13/2004HouseHouse Amendment No. 1 Filed with Clerk by Revenue Committee 5/13/2004HouseHouse Amendment No. 1 Adopted in Revenue Committee; by Voice Vote 5/13/2004HouseDo Pass as Amended / Short Debate Revenue Committee; 006-003-000 5/13/2004HousePlaced on Calendar 2nd Reading - Short Debate 5/14/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004 5/27/2004HouseSecond Reading - Short Debate 5/27/2004HouseHeld on Calendar Order of Second Reading - Short Debate 6/1/2004HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005SenateSession Sine Die