102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB0606

 

Introduced 2/8/2021, by Rep. Dave Vella

 

SYNOPSIS AS INTRODUCED:
 
New Act

    Creates the Jobs Creation Finance Act. Provides that municipalities may designate job creation areas. Provides that businesses that undertake job creation projects in those designated areas are eligible for certain tax incentives. Provides that municipalities may issue bonds in connection with those projects. Contains provisions concerning public hearings. Contains numerous other provisions. Effective immediately.


LRB102 03844 AWJ 13858 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0606LRB102 03844 AWJ 13858 b

1    AN ACT concerning jobs creation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 1. Short title. This Act may be cited as the Jobs
5Creation Finance Act.
 
6    Section 5. Purpose. The purposes of this Act are to
7promote, stimulate, and develop the general and economic
8welfare of the communities of the State of Illinois and to
9promote the general welfare of the citizens of this State.
 
10    Section 10. Definitions. As used in this Act, the
11following words and phrases shall have the following meanings
12unless a different meaning clearly appears from the context:
13    "Base year" means the most recently ascertained equalized
14assessed value of each lot, block, tract, or parcel of real
15property within a jobs creation project area.
16    "County" means the county in which a proposed jobs
17creation project area is located.
18    "Developer" means an owner, builder, developer, or tenant
19who may be organized as a sole proprietorship, corporation,
20trust, estate, partnership, limited liability company, or
21other legal entity.
22    "Equalized assessed value of property" has the same

 

 

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1meaning as set forth in Section 11-74.4-8 of the Tax Increment
2Allocation Redevelopment Act.
3    "Full-time jobs" means those jobs of 30 hours per week or
4more.
5    "Full-time equivalent jobs" means part-time jobs of less
6than 30 hours per week that in the aggregate equal full-time
7jobs.
8    "Jobs Creation Finance Fund" means the fund of the
9municipality for the deposit of all incremental revenues the
10municipality is entitled to receive pursuant to this Act for
11the purpose of paying jobs creation project costs and
12obligations incurred in the payment thereof.
13    "Jobs creation plan" means the written plan adopted by a
14municipality for the development of a jobs creation project
15area intended to increase employment and thereby enhance the
16tax bases of the taxing districts that extend into the jobs
17creation project area. The plan may include, but is not
18limited to:
19        (1) an itemized list of public and private job
20    creation project costs;
21        (2) evidence indicating that the job creation project
22    area has not been subject to growth and development
23    through prior investment and public enterprise;
24        (3) qualifications for the area to be designated as a
25    jobs creation project area, which must include:
26            (A) eligibility of the area;

 

 

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1            (B) the population of municipality based upon the
2        most recent federal decennial census prior to the
3        adoption of the plan;
4            (C) the unemployment rate within the municipality,
5        not seasonally adjusted;
6            (D) the number of part-time and full-time
7        equivalent jobs anticipated; and
8            (E) estimated salaries and wages on a part-time
9        and full-time equivalent basis;
10        (4) a general description of the jobs creation project
11    area;
12        (5) a boundary map of the jobs creation project area;
13        (6) the nature and term of the obligations to be
14    issued;
15        (7) an assessment of any financial impact of the jobs
16    creation project area on, or any increased demand for,
17    services from any taxing district affected by the plan and
18    any program to address that financial impact or increased
19    demand;
20        (8) the aggregate total of the most recent equalized
21    assessed valuation of all tax parcels within the jobs
22    creation project area;
23        (9) an estimate of the equalized assessed valuation of
24    the jobs creation project area after completion of the
25    jobs creation project;
26        (10) a general identification of the proposed

 

 

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1    developer for at least one jobs creation project;
2        (11) a description of the type, structure, and general
3    character of the facilities to be developed;
4        (12) a description of the type and number of new
5    full-time equivalent and part-time employees to be
6    employed by the jobs creation project;
7        (13) if applicable, a general description of other
8    potential jobs creation projects, their value, and their
9    general land uses as well as potential new full-time
10    equivalent and part-time jobs created by those projects;
11        (14) the estimated dates of completion of the jobs
12    creation projects and retirement of obligations issued to
13    finance jobs creation project costs; those dates may be no
14    later than 15 years after the date of the approval of the
15    jobs creation plan by the municipality or the dates set
16    forth in the job creation plan, whichever is earlier; and
17        (15) if property is to be annexed to the municipality,
18    a summary of the terms of the annexation agreement; and
19        (16) certification by an Illinois-licensed attorney
20    that the plan, project, and designation of the area
21    complies with all the legal requirements of this Act.
22    "Jobs creation project" means any public or private
23project within a jobs creation project area, including an
24expansion of an existing project, that qualifies as a jobs
25creation project pursuant to this Act and includes, but is not
26limited to, industrial projects, commercial projects,

 

 

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1technology based projects, medical projects, logistics
2projects, retail projects, office projects, alternative energy
3projects, environmental projects, senior housing and senior
4care projects, and residential development projects. For the
5purposes of this Act, the word "senior" is defined as at least
6one person over the age of 55 years per unit.
7    "Jobs creation project area" means an area within the
8municipality designated by ordinance by the municipality that
9is contiguous and is not, in the aggregate, more than 80 acres
10and meets the qualifications set forth in this Act.
11    "Jobs creation project costs" means the sum total of all
12reasonable or necessary costs incurred or estimated to be
13incurred, and any such costs incidental to a jobs creation
14plan and a jobs creation project. These costs include, without
15limitation, the following:
16        (1) costs incurred by municipalities or developers for
17    studies, surveys, development of plans and specifications,
18    and implementation and administration of a jobs creation
19    plan and projects, including but not limited to
20    construction management fees and staff and professional
21    service costs for architectural, engineering, legal,
22    financial, planning or other services;
23        (2) the cost of marketing sites and buildings
24    including realtors' fees and sales incentives within the
25    jobs creation project area to prospective businesses,
26    developers, investors, or buyers;

 

 

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1        (3) property assembly costs, including but not limited
2    to acquisition of land, land leases, and other property,
3    real or personal, or rights or interests therein, located
4    within the boundaries of the jobs creation project area,
5    demolition of buildings, site preparation, site
6    improvements that serve as an engineered barrier
7    addressing ground level or below ground environmental
8    contamination, including, but not limited to, parking lots
9    and other concrete or asphalt barriers, and the clearing
10    and grading of land, and importing additional soil and
11    fill materials to, or removal of soil and fill materials
12    from, the site;
13        (4) costs of buildings and other vertical improvements
14    that are located within the boundaries of a jobs creation
15    project area and are owned by a municipality;
16        (5) costs of buildings and other vertical improvements
17    that are located within the boundary of a jobs creation
18    project area and are owned or leased by a developer;
19        (6) costs of the design and construction of the
20    following improvements located outside the boundaries of a
21    jobs creation project area, provided that the costs are
22    essential to further the purpose and development of a jobs
23    creation plan and are either part of and connected to
24    sewer, water, or utility service lines that physically
25    connect to the jobs creation project area or are outside
26    the area and necessary to the development of the project,

 

 

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1    including but not limited to:
2            (A) improvements or extensions of sewer, water,
3        and storm sewer service lines, utilities, including
4        telecommunications equipment, and storm water
5        detention or retention facilities; and
6            (B) significant construction, extension, and
7        improvements for offsite highways, streets, roadways,
8        and interchanges that are approved by the Department
9        of Transportation or the municipalities' engineers;
10        (7) costs of rehabilitation, reconstruction, repair,
11    or remodeling of existing public or private buildings,
12    fixtures, and leasehold improvements; and the cost of
13    replacing an existing public building, including new
14    municipal buildings, if pursuant to the implementation of
15    a jobs creation project the existing public building is to
16    be demolished to be used as a site requiring private
17    investment;
18        (8) costs of job training and retraining projects,
19    including the cost of "welfare to work" programs
20    implemented by businesses located within the jobs creation
21    project area;
22        (9) financing costs, including, but not limited to,
23    all necessary and incidental expenses related to the
24    issuance of obligations and which may include payment of
25    all interest on any obligations issued under this Act;
26    those costs include interest on any obligations,

 

 

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1    capitalized interest of any jobs creation project for
2    which bond obligations are issued, and reasonable reserves
3    related thereto, provided that:
4            (A) the costs are paid directly from the Jobs
5        Creation Finance Fund pursuant to this Act;
6            (B) if there are not sufficient funds available in
7        the Jobs Creation Finance Fund to make the payment
8        pursuant to this paragraph, then the amounts so due
9        shall accrue and be payable when sufficient funds are
10        available in the Jobs Creation Finance Fund; and
11            (C) if there are not sufficient funds available in
12        the Jobs Creation Finance Fund and other funds are
13        used to pay financing costs, then those funds shall be
14        deemed financing costs and may be reimbursed at any
15        time by the Jobs Creation Finance Fund to any other
16        municipal fund from which costs were paid;
17        (10) to the extent the municipality by written
18    agreement accepts and approves the same, all or a portion
19    of an individual taxing district's costs, impact fees, or
20    salaries of district employees resulting from the jobs
21    creation project necessarily incurred or to be incurred
22    within a taxing district in furtherance of the objectives
23    of the jobs creation plan and project;
24        (11) for jobs creation project areas that include job
25    creation financing assisted housing units, an elementary,
26    secondary, or unit school district's increased costs

 

 

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1    attributable to assisted housing units located within the
2    jobs creation project area for which the developer
3    receives financial assistance through an agreement with
4    the municipality or because the municipality incurs the
5    cost of necessary infrastructure improvements within the
6    boundaries of the assisted housing sites necessary for the
7    completion of that housing as authorized by this Act,
8    those costs shall be paid by the municipality from the
9    Jobs Creation Finance Fund when the real estate tax
10    increment revenue is received as a result of the assisted
11    housing units and shall be calculated annually as follows:
12            (A) for foundation formula districts, excluding
13        any school district located within a municipality with
14        a population in excess of 1,000,000, by multiplying
15        the district's net increase in total attendance since
16        the designation of the jobs creation project area that
17        results from a net increase in new students enrolled
18        in that school district who reside in housing units
19        within the jobs creation project area where the
20        housing projects have received financial assistance
21        through an agreement with the municipality or because
22        the municipality incurs the cost of necessary
23        infrastructure improvements within the boundaries of
24        the housing project necessary for the completion of
25        that housing as authorized by this Act by the most
26        recently available per capita tuition cost as defined

 

 

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1        in Section 10-20.12a of the School Code less any
2        increase in general State aid as defined in Section
3        18-8.05 of the School Code attributable to these added
4        new students subject to the following annual
5        limitations:
6                (I) for unit school districts with a district
7            average 1995-96 Per Capita Tuition Charge of less
8            than $5,900, no more than 25% of the total amount
9            of property tax increment revenue produced by
10            those housing units that have received tax
11            increment finance assistance under this Act;
12                (II) for elementary school districts with a
13            district average 1995-96 Per Capita Tuition Charge
14            of less than $5,900, no more than 17% of the total
15            amount of property tax increment revenue produced
16            by those housing units that have received tax
17            increment finance assistance under this Act; and
18                (III) for secondary school districts with a
19            district average 1995-96 Per Capita Tuition Charge
20            of less than $5,900, no more than 8% of the total
21            amount of property tax increment revenue produced
22            by those housing units that have received tax
23            increment finance assistance under this Act;
24            (B) for alternate method districts, flat grant
25        districts, and foundation districts with a district
26        average 1995-96 Per Capita Tuition Charge equal to or

 

 

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1        more than $5,900, excluding any school district
2        located within a municipality with a population in
3        excess of 1,000,000, by multiplying the district's
4        increase in attendance resulting from the net increase
5        in new students enrolled in that school district who
6        reside in housing units within the jobs creation
7        project area that have received financial assistance
8        through an agreement with the municipality or because
9        the municipality incurs the cost of necessary
10        infrastructure improvements within the boundaries of
11        the housing sites necessary for the completion of that
12        housing as authorized by this Act since the
13        designation of the jobs creation project area by the
14        most recently available per capita tuition cost as
15        defined in Section 10-20.12a of the School Code less
16        any increase in general State aid as defined in
17        Section 18-8.05 of the School Code attributable to
18        these added new students subject to the following
19        annual limitations:
20                (I) for unit school districts, no more than
21            40% of the total amount of property tax increment
22            revenue produced by those housing units that have
23            received tax increment finance assistance under
24            this Act;
25                (II) for elementary school districts, no more
26            than 27% of the total amount of property tax

 

 

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1            increment revenue produced by those housing units
2            that have received tax increment finance
3            assistance under this Act; and
4                (III) for secondary school districts, no more
5            than 13% of the total amount of property tax
6            increment revenue produced by those housing units
7            that have received tax increment finance
8            assistance under this Act; and
9            (C) for any school district in a municipality with
10        a population in excess of 1,000,000, the following
11        restrictions shall apply to the reimbursement of
12        increased costs under this paragraph:
13                (I) no increased costs shall be reimbursed
14            unless the school district certifies that each of
15            the schools affected by the assisted housing
16            project is at or over its student capacity;
17                (II) the amount reimbursable shall be reduced
18            by the value of any land donated to the school
19            district by the municipality or developer, and by
20            the value of any physical improvements made to the
21            schools by the municipality or developer; and
22                (III) the amount reimbursed may not affect
23            amounts otherwise obligated by the terms of any
24            bonds, notes, or other funding instruments, or the
25            terms of any redevelopment agreement.
26        Any school district seeking payment under this

 

 

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1    paragraph shall, after July 1 and before September 30 of
2    each year, provide the municipality with reasonable
3    evidence to support its claim for reimbursement before the
4    municipality shall be required to approve or make the
5    payment to the school district. If the school district
6    fails to provide the information during this period in any
7    year, it shall forfeit any claim to reimbursement for that
8    year. School districts may adopt a resolution waiving the
9    right to all or a portion of the reimbursement otherwise
10    required by this paragraph. By acceptance of this
11    reimbursement the school district waives the right to
12    directly or indirectly set aside, modify, or contest in
13    any manner the establishment of the jobs creation project
14    area or projects;
15        (12) relocation costs of equipment and materials to
16    the project site;
17        (13) payment in lieu of taxes;
18        (14) costs of job training, retraining, advanced
19    vocational education, or career education, including but
20    not limited to courses in occupational, semi-technical, or
21    technical fields leading directly to employment, incurred
22    by one or more taxing districts, provided that those costs
23    (i) are related to the establishment and maintenance of
24    additional job training, advanced vocational education, or
25    career education programs for persons employed or to be
26    employed by employers located in a jobs creation project

 

 

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1    area; and (ii) when incurred by a taxing district or
2    taxing districts other than the municipality, are set
3    forth in a written agreement by or among the municipality
4    and the taxing district or taxing districts, which
5    agreement describes the program to be undertaken,
6    including but not limited to the number of employees to be
7    trained, a description of the training and services to be
8    provided, the number and type of positions available or to
9    be available, itemized costs of the program and sources of
10    funds to pay for the same, and the term of the agreement;
11    these costs include, specifically, the payment by
12    community college districts of costs pursuant to Sections
13    3-37, 3-38, 3-40, and 3-40.1 of the Public Community
14    College Act and by school districts of costs pursuant to
15    Sections 10-22.20a and 10-23.3a of the School Code;
16        (15) costs of landscaping and plantings, retaining
17    walls and fences, man-made lakes and ponds, shelters,
18    benches, lighting, exercise paths and stops, parking lots,
19    and similar amenities located within the boundaries of a
20    jobs creation project area;
21        (16) if included in the jobs creation plan, salaries
22    or a portion of salaries for local government employees
23    and payments to consultants to the extent they are
24    directly attributable to the work of those employees or
25    consultants on the planning, establishment, management,
26    maintenance, and administration of the jobs creation plan,

 

 

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1    area, and projects;
2        (17) all environmental improvement costs including,
3    but not limited to: alternative energy equipment using
4    solar, geothermal, wind power, hydro, bio-mass, or
5    ethanol; EPA clean-up; wetlands mitigation costs whether
6    within the jobs creation project area or required off-site
7    to serve the objectives of the jobs creation project area;
8    and LEEDS qualification costs;
9        (18) all maintenance, equipment, and repair costs
10    attributable to jobs creation projects or the jobs
11    creation project area;
12        (19) developer's worker's compensation contributions
13    limited to one-half the costs; and
14        (20) the cost of day care services for children of
15    employees from low-income families working for businesses
16    located within the jobs creation project area and all or a
17    portion of the cost of operation of day care centers
18    established by jobs creation project area businesses to
19    serve employees from low-income families working in
20    businesses located in the jobs creation project area; for
21    the purposes of this paragraph, "low-income families"
22    means families whose annual income does not exceed 80% of
23    the municipal, county, or regional median income, adjusted
24    for family size, as the annual income and municipal,
25    county, or regional median income are determined from time
26    to time by the United States Department of Housing and

 

 

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1    Urban Development.
2    "Jobs creation project costs" does not include:
3            (A) moving expenses for employees of the business
4        location within a jobs creation project area;
5            (B) property taxes for property located within the
6        jobs creation project area; and
7            (C) general overhead or administrative costs of
8        the municipality that would still have been incurred
9        by the municipality if the municipality had not
10        established a jobs creation project area.
11    "Jobs tax credit" is a tax credit of $500 per full-time
12equivalent employee against the developer's income, pursuant
13to Section 201 of the Illinois Income Tax Act.
14    "Local sales taxes" means any locally imposed taxes
15received by a municipality arising from sales by retailers and
16servicemen within a jobs creation project area as provided for
17in the Use Tax Act, Service Use Tax Act, Service Occupation Tax
18Act, and Retailers' Occupation Tax Act.
19    "Local sales tax increment" means an amount equal to the
20increase in the aggregate amount of taxes paid to a
21municipality from the Local Government Tax Fund arising from
22sales by retailers and servicemen, as the case may be, within
23the jobs creation project area for as long as the jobs creation
24project area exists, over and above the aggregate amount of
25taxes as certified by the Department of Revenue and paid by
26retailers and servicemen under the Retailers' Occupation Tax

 

 

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1Act, the Service Occupation Tax Act, the Use Tax Act, and the
2Service Use Tax Act on transactions at places of business
3located in the jobs creation project area during the base
4year, which shall be the calendar year immediately prior to
5the year in which the municipality designated a jobs creation
6project area.
7    "Municipal hotel tax" shall have the same meaning for the
8purposes of this Act as set forth in the Hotel Operators'
9Occupation Tax Act.
10    "Municipality" means a city, village, or incorporated
11town.
12    "Obligations" means bonds, loans, debentures, notes,
13special certificates, or other evidence of indebtedness,
14including redevelopment agreements, issued or entered into by
15the municipality to carry out a jobs creation project or to
16refund outstanding obligations.
17    "Payment in lieu of taxes" means those estimated tax
18revenues from real property in a jobs creation project area
19derived from real property that has been acquired by a
20municipality that according to the jobs creation plan is to be
21used for a private use and where taxing districts would have
22received real estate taxes had a municipality not acquired the
23real property and adopted tax increment financing and that
24would result from levies made after the time of the adoption of
25tax increment allocation financing to the time the current
26equalized assessed value of real property in the jobs creation

 

 

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1project area exceeds the total initial equalized value of real
2property in the area.
3    "Residential development benefits" means real estate tax
4increment benefits available to a developer of a jobs creation
5project for the purpose of reimbursing jobs creation project
6costs for (i) an existing residential development project
7qualified pursuant to paragraph (3) of Section 15 of this Act
8or (ii) a new residential development project whereby the
9project results in the construction of at least 10 new
10residential units.
11    "State income tax" means the tax imposed under the
12Illinois Income Tax Act.
13    "State sales tax" means all the net revenue realized under
14the Retailer's Occupation Act, the Use Tax Act, the Service
15Use Tax Act, and the Service Occupation Tax Act from
16transactions at places of business located within a jobs
17creation project area.
18    "State sales tax increment" has the meaning set forth in
19Section 11-74.4-3(s) of the Tax Increment Allocation
20Redevelopment Act.
21    "State utility tax" has the same meaning as set forth in
22Public Utilities Act.
23    "State utility tax increment" has the same meaning as set
24forth in subsection (j) of Section 11-74.4-3 of the Tax
25Increment Allocation Redevelopment Act.
26    "Surplus" means an amount in excess of those moneys

 

 

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1pledged, earmarked, or otherwise designated or estimated for
2payment and securing of obligations or otherwise estimated for
3public or private projects in the jobs creation plan for
4future public and private costs.
5    "Tax increment financing" has the same meaning as set
6forth in Section 11-74.4-8 of the Tax Increment Allocation
7Redevelopment Act.
8    "Taxing districts" means counties, townships, cities, and
9incorporated towns and villages, school, road, park, sanitary,
10mosquito abatement, forest preserve, public health, fire
11protection, river conservancy, tuberculosis sanitarium, and
12any other municipal corporations or districts with the power
13to levy taxes in the proposed jobs creation project area.
14    "Taxing districts' costs" means the costs of taxing
15bodies, impact fees, and salaries that are found by the
16municipal authorities to be necessary and directly result from
17the jobs creation project.
18    "Telecommunications tax" has the same meaning as set forth
19in the Telecommunications Excise Tax Act.
20    "Three Year Job Attainment Report" means the report
21required to be submitted by a developer to a municipality on
22the third anniversary of date of the designation of a jobs
23creation project area, and on the anniversary date every 3
24years thereafter for the term of the jobs creation project
25area, as set forth in subsection (e) of Section 20 of this Act.
 

 

 

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1    Section 15. Qualifications. An area is qualified as a jobs
2creation project area if the area:
3        (1) is contiguous and is not, in the aggregate, more
4    than 80 acres; and
5        (2) is located within the territorial limits of a
6    municipality in which, at any time during the 12 months
7    before the municipality, by ordinance, designates a jobs
8    creation project area, the unemployment rate, not
9    seasonally adjusted, was 6% or greater or was equal to or
10    greater than 75% of the national average unemployment rate
11    for that same time as published in the United States
12    Department of Labor Bureau of Labor Statistics publication
13    entitled the "The Employment Situation" or its successor
14    publication; for the purpose of this item (2), if
15    unemployment rate statistics for a municipality are not
16    available, the unemployment rate in the municipality shall
17    be deemed to be the same as the unemployment rate in the
18    principal county in which the municipality is located.
19    In addition, the municipality must establish one or more
20jobs creation projects within the area and must include the
21following in the jobs creation plan:
22            (A) the identification of at least one developer
23        who proposes to undertake a jobs creation project;
24            (B) a description of the buildings and facilities
25        proposed to be constructed and improved in the jobs
26        creation project area;

 

 

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1            (C) the estimated costs of construction of the
2        buildings and facilities to be constructed in the jobs
3        creation project area;
4            (D) a copy of letters of intent to locate within
5        the proposed jobs creation project area by the
6        developer and appropriate corporate officer, if
7        applicable;
8            (E) the estimated number of full-time equivalent
9        and part-time jobs anticipated to be created and
10        retained by the developer's jobs creation project; and
11            (F) any other information the municipality deems
12        reasonable and necessary to advise the public of the
13        intent of the jobs creation project.
14        (3) is an existing residential development project
15    site, for which 51% of the subdivided lots were (i)
16    platted and located within the territorial limits of a
17    municipality not less than 18 months prior to the
18    designation of the jobs creation project area and (ii)
19    remain vacant or unimproved.
 
20    Section 20. Levels of benefits.
21    (a) Jobs creation projects within a jobs creation project
22area created pursuant to this Act may qualify for incentives,
23tax credits, deductions, or exemptions as follows: (i) real
24estate tax increment; (ii) local sales tax increment; (iii)
25State sales tax increment; (iv) municipal utility tax

 

 

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1increment; (v) municipal hotel tax increment; (vi) State
2utility tax increment; (vii) income tax credit or deduction;
3and (viii) State and local telecommunications tax increment.
4    (b) Sources of incentives available for public and private
5projects in a jobs creation project area are defined by the
6following levels:
7        (1) Level "A" benefits are defined as real estate tax
8    increment, local sales tax increment, and municipal hotel
9    tax increment. Level "A" residential development benefits
10    are defined as real estate tax increment only. Job
11    creation projects receiving level "A" residential
12    development benefits pursuant to this Act are exempt from
13    the requirements set forth in subsection (e) of Section 20
14    of this Act.
15        (2) Level "B" benefits are defined as real estate tax
16    increment; local sales tax increment; State sales tax
17    increment; municipal hotel tax increment; and municipal
18    utility tax increment.
19        (3) Level "C" benefits are defined as real estate tax
20    increment; local sales tax increment; municipal hotel tax
21    increment; State sales tax increment; municipal utility
22    tax increment; State utility tax increment; State and
23    municipal telecommunication tax increment; and a jobs
24    State income tax credit or deduction.
25    (c) Incentive levels for jobs creation project areas are
26determined by the population of the municipality as of the

 

 

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1most recent federal decennial census prior to the adoption of
2the jobs creation plan and the number of full-time equivalent
3jobs created as follows:
4        (1) Jobs creation project areas located in a
5    municipality with a population of up to 14,999 with a
6    project estimated to create the following full-time
7    equivalent jobs are eligible for the following benefits:
8            (A) If the project creates 25 jobs or more, the
9        jobs project area is eligible for level A benefits.
10            (B) If the project creates 75 jobs or more, the
11        jobs project area is eligible for level B benefits.
12            (C) If the project creates 100 jobs or more, the
13        jobs project area is eligible for level C benefits.
14        (2) Jobs creation project areas located in a
15    municipality with a population of 15,000 to 49,999 with a
16    project estimated to create the following full-time
17    equivalent jobs are eligible for the following benefits:
18            (A) If the project creates 75 jobs or more, the
19        jobs project area is eligible for level A benefits.
20            (B) If the project creates 100 jobs or more, the
21        jobs project area is eligible for level B benefits.
22            (C) If the project creates 150 jobs or more, the
23        jobs project area is eligible for level C benefits.
24        (3) Jobs creation project areas located in a
25    municipality with a population over 50,000 with a project
26    estimated to create the following full-time equivalent

 

 

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1    jobs are eligible for the following benefits:
2            (A) If the project creates 100 jobs or more, the
3        jobs project area is eligible for level A benefits.
4            (B) If the project creates 150 jobs or more, the
5        jobs project area is eligible for level B benefits.
6            (C) If the project creates 250 jobs or more, the
7        jobs project area is eligible for level C benefits.
8    (d) The municipality shall determine incentive levels
9available for a jobs creation project. Incentives offered to
10the developer or developers shall be at the discretion of the
11municipality and shall be set forth in a redevelopment
12agreement adopted by ordinance of the municipality. The
13redevelopment agreement shall contain a description of the
14benefit level the developer is eligible to receive and the
15requirements of the Three Year Job Attainment Report. The
16rights and obligations of the redevelopment agreement shall be
17fully assignable by the developer upon approval of the
18municipality.
19    (e) On the third anniversary of date of the designation of
20a jobs creation project area, the developer shall submit to
21the municipality a Three Year Job Attainment Report, which
22must include: (i) identification of the developer or
23developers and the jobs creation project or projects; (ii) a
24description of the incentives the developer has received since
25the designation of the area; (iii) a sworn statement of the
26number of full-time, part-time, and full-time equivalent jobs

 

 

HB0606- 25 -LRB102 03844 AWJ 13858 b

1that have been created by its project.
2    (f) If, on the third anniversary, the municipality finds
3that the number of jobs created within a jobs creation project
4area is not equal to or greater than the number of jobs
5required by the level of benefits the developer is receiving,
6the developer's level of benefits shall decrease to the
7appropriate level set forth in subsection (c). If the
8developer fails to meet the number of jobs required for level A
9benefits based upon the population of the municipality where
10the jobs creation project is located, the developer's
11incentives may be terminated by written notice from the
12municipality.
13    (g) If, on the third anniversary, the municipality finds
14that the jobs created within the jobs creation project area
15are greater than the number of jobs required by the level of
16benefits the developer is receiving, the developer may be
17eligible for additional benefits based upon the appropriate
18level set forth in subsection (c).
19    (h) A change in the level of benefits and incentives a
20developer receives shall require an amendment to the
21redevelopment agreement between the municipality and the
22developer approved by ordinance of the municipality. If the
23developer exceeds the number of full-time equivalent jobs
24required for the level of benefits the developer is receiving
25prior to the third anniversary date of the establishment of
26the jobs creation project area, the developer may present to

 

 

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1the municipality a sworn statement of the number of full-time
2equivalent jobs created, and the developer, at the discretion
3of the developer, may be eligible for additional benefits
4based upon the appropriate level set forth in subsection (c).
5    (i) Upon determination by the municipality that the
6requisite number of full-time equivalent jobs have been
7created within the jobs creation project area, the developer
8or developers shall be relieved of any liability with respect
9to job creation under this Section.
 
10    Section 25. Approval of a jobs creation plan and project;
11designation of a jobs creation project area.
12    (a) A municipality may, by ordinance, approve a jobs
13creation plan and project and designate a jobs creation
14project area. Prior to the adoption of an ordinance
15designating a jobs creation project area or approving a jobs
16creation plan or jobs creation project, the municipality by
17its corporate authorities shall adopt an ordinance fixing a
18time and place for a public hearing. The municipality shall
19hear all comments at the hearing and the hearing may be
20adjourned to another date without further notice other than a
21motion to be entered upon the minutes fixing the time and place
22of the subsequent hearing. At the public hearing or at any time
23prior to the adoption by the municipality of an ordinance
24approving a jobs creation plan, the municipality may make
25changes in the jobs creation plan. Changes that (i) add

 

 

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1additional parcels of property to the proposed jobs creation
2project area, (ii) substantially affect the general land uses
3proposed in the jobs creation plan, or (iii) substantially
4change the nature of or extend the life of the jobs creation
5project, shall be made only after the municipality gives
6notice, convenes a joint review board, and conducts a public
7hearing pursuant to the procedures set forth in this Section
8of this Act. Changes that do not (i) add additional parcels of
9property to the proposed jobs creation project area, (ii)
10substantially affect the general land uses proposed in the
11jobs creation plan, or (iii) substantially change the nature
12of or extend the life of the jobs creation project, may be made
13without further hearing, provided that the municipality shall
14give notice of any such changes by mail to each affected taxing
15district and by publication in a newspaper of general
16circulation within the affected taxing district. The notice by
17mail and by publication shall each occur not later than 14
18business days following the adoption by ordinance of those
19changes. Hearings with regard to a jobs creation project area,
20project, or plan may be held simultaneously.
21    (b) Notice of the public hearing shall be given by
22publication and mailing. Notice by publication shall be given
23by publication at least twice, the first publication to be not
24more than 30 nor less than 10 days prior to the hearing in a
25newspaper of general circulation within the taxing districts
26having property in the proposed jobs creation project area.

 

 

HB0606- 28 -LRB102 03844 AWJ 13858 b

1Notice by mailing shall be given by depositing that notice in
2the United States mail by certified mail addressed to the
3person or persons in whose name the general taxes for the last
4preceding year were paid on each lot, block, tract, or parcel
5of land lying within the jobs creation project area. The
6notice shall be mailed not less than 10 days prior to the date
7set for the public hearing. If taxes for the last preceding
8year were not paid, the notice shall also be sent to the
9persons last listed on the tax rolls within the preceding 3
10years as the owners of such property.
11    (c) The notices issued pursuant to this Section shall
12include the following:
13        (1) the time and place of public hearing;
14        (2) the boundaries of the proposed jobs creation
15    project area by legal description and by street location
16    where possible;
17        (3) a description of the jobs creation plan and jobs
18    creation project for the proposed jobs creation project
19    area; and
20        (4) such other matters as the municipality may deem
21    appropriate.
22    (d) Not less than 30 days prior to the date set for
23hearing, the municipality shall give notice by mail as
24provided in subsection (a) to all taxing districts of which
25taxable property is included in the jobs creation project
26area, project, or plan and to the Department of Commerce and

 

 

HB0606- 29 -LRB102 03844 AWJ 13858 b

1Economic Opportunity.
2    (e) Prior to holding a public hearing to approve or amend a
3jobs creation plan or to designate or add additional parcels
4of property to a jobs creation project area, the municipality
5shall convene a joint review board. The board shall consist of
6a representative selected by each community college district,
7local elementary school district and high school district or
8each local community unit school district, park district,
9library district, township, fire protection district, and
10county that will have the authority to directly levy taxes on
11the property within the proposed jobs creation project area at
12the time that the proposed jobs creation project area is
13approved, a representative selected by the municipality, and a
14public member who shall be a resident of the municipality. The
15public member shall first be selected and then the board's
16chairperson shall be selected by a majority of the board
17members present and voting.
18    All board members shall be appointed and the first board
19meeting shall be held at least 14 days but not more than 28
20days after the mailing of notice by the municipality to the
21taxing districts as required by this Act. Additional meetings
22of the board shall be held upon the call of any member. The
23municipality seeking designation of the jobs creation project
24area shall provide administrative support to the board.
25    The board shall review (i) the public record, planning
26documents, and proposed ordinances approving the jobs creation

 

 

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1plan and project and (ii) proposed amendments to the jobs
2creation plan or additions of parcels of property to a jobs
3creation project area to be adopted by the municipality. As
4part of its deliberations, the board may hold additional
5hearings on the proposal. The board's recommendation shall be
6an advisory, non-binding recommendation. The recommendation
7shall be adopted by a majority of those members present and
8voting. The recommendations shall be submitted to the
9municipality within 30 days after convening the board. Failure
10of the board to submit its report on a timely basis shall not
11be cause to delay the public hearing or any other step in the
12process of designating or amending the jobs creation project
13area but shall be deemed to constitute approval of the joint
14review board of the matters before it.
15     The board shall base its recommendation to approve or
16disapprove the jobs creation plan or addition of parcels of
17property to the jobs creation project area on the basis of the
18jobs creation project area satisfying the qualifications
19defined in Section 15 of this Act and the objectives of the
20Act.
21    The board shall issue a written report describing why the
22jobs creation plan and project area or the amendment meets or
23fails to meet one or more of the objectives of this Act and the
24plan requirements and eligibility criteria.
25    If the board recommends rejection of the matters before
26it, the municipality shall have 30 days to resubmit the plan or

 

 

HB0606- 31 -LRB102 03844 AWJ 13858 b

1amendment. During this period, the municipality shall meet and
2confer with the board and attempt to resolve those issues set
3forth in the board's written report that led to the rejection
4of the plan or amendment.
5    Notwithstanding the resubmission set forth in this
6subsection (e), the municipality may commence the scheduled
7public hearing and either adjourn the public hearing or
8continue the public hearing until a date certain. Prior to
9commencing any public hearing to a date certain, the
10municipality shall announce during the public hearing the
11time, date, and location for reconvening the public hearing.
12Any changes to the jobs creation plan necessary to satisfy the
13issues set forth in the joint review board report shall be the
14subject of a public hearing before the public hearing is
15adjourned if the changes would (i) substantially affect the
16general land uses proposed in the jobs creation plan or (ii)
17substantially change the nature of or extend the life of the
18jobs creation project area. Changes to the jobs creation plan
19necessary to satisfy the issues set forth in the joint review
20board report shall not require any further notice or convening
21of a joint review board meeting, except that any changes to the
22jobs creation plan that would add additional parcels of
23property to the proposed jobs creation project area shall be
24subject to the notice, public hearing, and joint review board
25meeting requirements established for changes by this Act.
26    If the municipality and the board are unable to resolve

 

 

HB0606- 32 -LRB102 03844 AWJ 13858 b

1those differences, or if the resubmitted plan or amendment is
2rejected by the board, the municipality may proceed with the
3plan or amendment, but only upon a three-fifths vote of the
4corporate authority responsible for approval of the plan or
5amendment, excluding positions of members that are vacant and
6those members that arc ineligible to vote because of a
7conflict of interest.
8    (f) Upon conclusion of the public hearing, the
9municipality may, within 180 days after the public hearing,
10adopt an ordinance approving a jobs creation plan and project,
11and an ordinance designating a jobs creation project area. No
12jobs creation project area shall be designated unless a plan
13and project are approved prior to the designation of the area.
14    The plan and projects shall be approved by an ordinance
15that includes:
16        (1) a description of the jobs creation project area;
17        (2) the qualifications described in the jobs creation
18    plan that cause the area to be designated as a jobs
19    creation project area pursuant to Section 15 of this Act;
20        (3) a finding that the proposed jobs creation project
21    area on the whole has not been subject to growth and
22    development through investment by private enterprise and
23    would not be reasonably anticipated to be developed
24    without the adoption of the jobs creation plan;
25        (4) a finding that the jobs creation plan and project
26    conform to the land use and zoning and ordinances for the

 

 

HB0606- 33 -LRB102 03844 AWJ 13858 b

1    development of the municipality as a whole;
2        (5) the anticipated completion date of the jobs
3    creation plan and projects;
4        (6) the estimated date for retirement of obligations,
5    if any, incurred to finance the jobs creation project; and
6        (7) a finding that the incremental revenues and
7    benefits pursuant to the act will be used exclusively for
8    development of or the benefit of the jobs creation project
9    area.
10    An ordinance designating a jobs creation project area
11shall set forth:
12        (1) a general description of the jobs creation project
13    area; and
14        (2) a boundary map of the jobs creation project area.
15    (g) Upon adoption of the ordinances and with regard to the
16real estate increment, as set forth in Section 11-74.4-8 of
17the Tax Increment Allocation Redevelopment Act, the
18municipality shall forthwith transmit to the county clerk of
19the county or counties within which the jobs creation project
20area is located a certified copy of the ordinance, a legal
21description of the jobs creation project area, a map of the
22jobs creation project area, identification of the year that
23the county clerk shall use for determining the total initial
24equalized assessed value of the jobs creation project area,
25and a list of the parcel or tax identification number of each
26parcel of property included in the jobs creation project area.

 

 

HB0606- 34 -LRB102 03844 AWJ 13858 b

1    (h) Upon adoption of the ordinances and with regard to the
2State and local municipal sales taxes and use and service
3taxes, State income taxes, municipal hotel taxes, State and
4municipal telecommunications taxes, and State and municipal
5utility taxes, if such benefits are applicable, the
6municipality shall provide to the Department of Revenue a
7certified copy of the ordinances.
 
8    Section 30. Jobs Creation Finance Fund. Upon adoption of
9the ordinances approving a jobs creation plan and project and
10designating a jobs creation project area, a municipality shall
11create a special fund called the Jobs Creation Finance Fund
12for the deposit of real estate tax incremental revenues and
13any incremental tax revenues payable to the municipality
14pursuant to this Act. The moneys in the Jobs Creation Finance
15Fund shall be used for the purpose of paying jobs creation
16projects costs and obligations incurred from the payment of
17jobs creation project costs.
 
18    Section 35. Completion dates for jobs creation projects.
19The dates of completion of the jobs creation projects and
20retirement of obligations issued to finance jobs creation
21project cost may not be later than December 31st of the year in
22which the payment to the municipal treasurer is to be made with
23respect to ad valorem real estate taxes levied in the 15th
24calendar year after the year in which the ordinance approving

 

 

HB0606- 35 -LRB102 03844 AWJ 13858 b

1the jobs creation project area was adopted. A municipality may
2elect to extend the life of the jobs creation project area to
325 years by the adoption of an ordinance after at least 14 but
4no more than 30 days' written notice to the affected taxing
5bodies before the adoption of the ordinance.
 
6    Section 40. Municipal powers and duties; jobs creation
7project areas. A municipality may:
8    (a) Make and enter into all contracts with property
9owners, developers, tenants, individual overlapping taxing
10bodies, and others necessary or incidental to the
11implementation and furtherance of its jobs creation plan and
12projects.
13    (b) Acquire by purchase, donation, or lease or own,
14convey, lease, mortgage, or dispose of land and other
15property, real or personal, or rights or interests therein,
16and grant or acquire licenses, easements, and options with
17respect thereto, all in the manner and at the price the
18municipality determines is reasonably necessary to achieve the
19objectives of the jobs creation plan and project. No
20conveyance, lease, mortgage, or disposition of land or other
21property owned by a municipality, or agreement relating to the
22development of that municipal property, shall be made except
23upon the adoption of an ordinance by the corporate authorities
24of the municipality. Furthermore, no conveyance, lease,
25mortgage, or other disposition of land owned by a municipality

 

 

HB0606- 36 -LRB102 03844 AWJ 13858 b

1or agreement relating to the development of such municipal
2property shall be made without making public disclosure of the
3terms of the disposition and all bids and proposals made in
4response to the municipality's request. The procedures for
5obtaining those bids and proposals shall provide reasonable
6opportunity for any person to submit alternative proposals or
7bids.
8    (c) Within a jobs creation project area, clear any area by
9demolition or removal of any existing buildings, equipment,
10underground tanks, structures, or other impediments to
11development.
12    (d) Within a jobs creation project area, renovate,
13rehabilitate, or construct any structure or building, as
14permitted under this Act.
15    (e) Install, repair, construct, reconstruct, or relocate
16streets, utilities, and site improvements essential to the
17preparation of the jobs creation project area for use in
18accordance with a jobs creation project plan.
19    (f) Within a jobs creation project area, fix, charge, and
20collect fees, rents, and charges for the use of any building or
21property owned or leased by it or any part thereof, or facility
22therein.
23    (g) Accept grants, guarantees, and donations of property,
24labor, or other things of value from a public or private source
25for use within a project jobs creation project area.
26    (h) Acquire and construct public facilities as permitted

 

 

HB0606- 37 -LRB102 03844 AWJ 13858 b

1under this Act.
2    (i) Incur jobs creation project costs and reimburse
3developers who incur project costs as permitted under this
4Act.
5    (j) From municipal owned properties, make full or partial
6payment in lieu of taxes to taxing districts. If payments in
7lieu of taxes or a portion thereof are made to taxing
8districts, those payments shall be made to all districts
9within a jobs creation project area on a basis which is
10proportional to the then current collections of revenue which
11each taxing district receives from real property in the jobs
12creation project area.
13    (k) Exercise any and all other powers necessary to
14effectuate the purposes of this Act.
15    (l) Municipalities may undertake and perform jobs creation
16plans and projects and use the provisions of the Act wherever
17they have contiguous jobs creation project areas or tax
18increment redevelopment project areas. They may issue
19obligations and expend tax revenues received under this Act
20for eligible expenses anywhere within contiguous jobs creation
21project areas or tax increment redevelopment project areas, as
22otherwise permitted in the Act.
23    (m) Use revenues, other than State sales use or service
24tax increment revenues or State utilities tax increment
25revenues, received under this Act from one jobs creation
26project area for eligible costs in: (i) another contiguous

 

 

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1jobs creation project area; (ii) a contiguous tax increment
2redevelopment project area created pursuant to the Tax
3Increment Allocation Redevelopment Act or Industrial Jobs
4Recovery Law; or (iii) a STAR Bonds District created pursuant
5to the Innovation Development and Economy Act. Job creation
6project areas, tax increment redevelopment project areas, or
7STAR bonds districts shall be deemed contiguous under this Act
8if they are:
9        (1) separated only by a public right-of-way from the
10    jobs creation project area or tax increment redevelopment
11    project area;
12        (2) separated only by property owned by another taxing
13    district; or
14        (3) separated only by forest preserve property from
15    the jobs creation project area.
16    (n) If a jobs creation project has not been initiated in a
17jobs creation project area within 3 years after the area was
18designated by ordinance, the municipality shall adopt an
19ordinance repealing the area's designation as a jobs creation
20project area.
 
21    Section 45. Distribution of surplus funds. Upon the
22determination of a surplus of increment in the Jobs Creation
23Finance Fund, the surplus shall be distributed to the taxing
24districts and to the Department of Revenue as follows: (i)
25surplus real estate increment shall be paid by the municipal

 

 

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1treasurer to the County Collector, who shall distribute the
2surplus increment to the taxing bodies in proportion to the
3tax rates of the taxing bodies in the most recent distribution
4by the County Collector to the affected districts; (ii) the
5municipal treasurer shall pay all surplus State sales, use,
6service, and utility taxes to the Department of Revenue; and
7(iii) the municipality shall retain all local taxes and
8deposit them into the municipality's general fund.
 
9    Section 50. Issuance of obligations for jobs creation
10project costs. Obligations in the form of bonds, loans, notes,
11or debentures, secured by the Jobs Creation Finance Fund for
12the jobs creation project area, may be issued to provide for
13jobs creation project costs.
14    Without limiting the foregoing in this Section, the
15municipality may pledge, in addition to obligations secured by
16the Jobs Creation Finance Fund and for a period not greater
17than the term of the obligations, towards payment of such
18obligations any part or any combination of the following: (i)
19net revenues of all or part of any jobs creation project; (ii)
20taxes levied and collected on any or all property in the
21municipality; (iii) the full faith and credit of the
22municipality; (iv) a mortgage on part or all of the jobs
23creation project; or (v) any other taxes or anticipated
24receipts that the municipality may lawfully pledge.
25    These obligations may be issued in one or more series

 

 

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1bearing interest at a rate or rates that the corporate
2authorities of the municipality shall determine by ordinance.
3These obligations shall bear such date or dates, mature at
4such time or times not exceeding 15 years, or 25 years if the
5area is extended, from their respective dates, be in such
6denomination, carry such registration privileges, be executed
7in such manner, be payable in such medium of payment at such
8place or places, contain such covenants, terms, and
9conditions, and be subject to redemption as the ordinance
10shall provide. Obligations issued pursuant to this Act may be
11sold at public or private sale at a price determined by the
12corporate authorities of the municipalities. No referendum
13approval of the electors shall be required as a condition to
14the issuance of obligations pursuant to this Act except as
15provided in this Section.
16    If the municipality authorizes issuance of obligations
17pursuant to the authority of this Act secured by the full faith
18and credit of the municipality, and if those obligations are
19other than obligations that may be issued under home rule
20powers provided by Article VII, Section 6 of the Illinois
21Constitution, or pledges taxes under this Section, the
22ordinance authorizing the issuance of those obligations or
23pledging those taxes shall be published in one or more
24newspapers, with general circulation within the municipality,
25within 10 days after the ordinance has been passed. The
26publication of the ordinance shall be accompanied by a notice

 

 

HB0606- 41 -LRB102 03844 AWJ 13858 b

1of (i) the specific number of voters required to sign a
2petition requesting the question of the issuance of those
3obligations or pledging taxes to be submitted to the electors;
4(ii) the time in which the petition must be filed; and (iii)
5the date of the prospective referendum. The municipal clerk
6shall provide a petition form to any individual requesting
7one.
8    If no petition is filed with the municipal clerk, as
9provided in this Section, within 30 days after the publication
10of the ordinance, the ordinance shall be in effect. But, if
11within that 30-day period, a petition is filed with the
12municipal clerk, signed by electors in the municipality
13numbering 10% or more of the number of registered voters in the
14municipality, asking that the question of issuing obligations
15using full faith and credit of the municipality as security
16for the cost of paying for jobs creation project costs, or of
17pledging taxes for the payment of such obligations, or both,
18be submitted to the electors of the municipality, the
19corporate authorities of the municipality shall call a special
20election in the manner provided by law to vote upon that
21question, or, if a general, State, or municipal election is to
22be held within a period of not less than 30 or more than 90
23days from the date the petition is filed, shall submit the
24question at the next general, State, or municipal election. If
25it appears upon the canvass of the election by the corporate
26authorities that a majority of electors voting upon the

 

 

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1question voted in favor thereof, the ordinance shall be in
2effect, but if a majority of the electors voting upon the
3question are not in favor thereof, the ordinance shall not
4take effect.
5    The ordinance authorizing the obligations may provide that
6the obligations shall contain a recital that they are issued
7pursuant to this Act, which recital shall be conclusive
8evidence of their validity and of the regularity of their
9issuance.
10    If the municipality authorizes issuance of obligations
11pursuant to this Section secured by the full faith and credit
12of the municipality, the ordinance authorizing the obligations
13may provide for the levy and collection of a direct annual tax
14upon all taxable property within the municipality sufficient
15to pay the principal thereof and interest thereon as it
16matures, which levy may be in addition to and exclusive of the
17maximum of all other taxes authorized to be levied by the
18municipality, which levy, however, shall be abated to the
19extent that moneys from other sources are available for
20payment of the obligations and the municipality certifies the
21amount of those moneys available to the county clerk.
22    A certified copy of the ordinance shall be filed with the
23county clerk of each county in which any portion of the
24municipality is situated, and shall constitute the authority
25for the extension and collection of the taxes to be deposited
26into the Jobs Creation Finance Fund.

 

 

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1    A municipality may also issue its obligations to refund,
2in whole or in part, obligations theretofore issued by that
3municipality under the authority of this Act, whether at or
4prior to maturity; provided, however, that the last maturity
5of the refunding obligations may not be later than the dates
6set forth in this Act.
7    If a municipality issues obligations under home rule
8powers or other legislative authority, the proceeds of which
9are pledged to pay for jobs creation project costs, the
10municipality may, if it has followed the procedures in
11conformance with this Act, retire those obligations from funds
12in the Jobs Creation Finance Fund in amounts and in such manner
13as if such obligations had been issued pursuant to the
14provisions of this Act.
15    All obligations issued pursuant to this Act shall not be
16regarded as indebtedness of the municipality issuing those
17obligations or any other taxing district for the purpose of
18any limitation imposed by law.
 
19    Section 55. Amendments. After a municipality has, by
20ordinance, approved a jobs creation plan, and designated a
21jobs creation project area, the plan may be amended and
22additional properties may be added to the jobs creation
23project area only as provided in this Section. Amendments that
24(i) add additional parcels of property to the proposed jobs
25creation project area, (ii) substantially affect the general

 

 

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1land uses proposed in the jobs creation plan, (iii)
2substantially change the nature of the jobs creation project,
3(iv) increase the total estimated jobs creation project costs
4set out in the jobs creation plan by more than 5% after
5adjustment for inflation from the date the plan was adopted,
6or (v) add additional jobs creation project costs to the
7itemized list of jobs creation project costs set out in the
8jobs creation plan shall be made only after the municipality
9gives notice, convenes a joint review board, and conducts a
10public hearing pursuant to the procedures set forth in this
11Act. Changes that do not (i) add additional parcels of
12property to the proposed jobs creation project area, (ii)
13substantially affect the general land uses proposed in the
14jobs creation plan, (iii) substantially change the nature of
15the jobs creation project, (iv) increase the total estimated
16jobs creation project cost set out in the jobs creation plan by
17more than 5% after adjustment for inflation from the date the
18plan was adopted, or (v) add additional jobs creation project
19costs to the itemized list of jobs creation project costs set
20out in the jobs creation plan may be made without further
21public hearing and related notices and procedures including
22the convening of a joint review board as set forth in this Act,
23provided that the municipality shall give notice of any such
24changes by mail to each affected taxing district and by
25publication in a newspaper of general circulation within the
26affected taxing district. That notice by mail and by

 

 

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1publication shall each occur not later than 10 days following
2the adoption by ordinance of those changes.
 
3    Section 60. Annual reports; annual joint review board
4meetings. A municipality shall submit the following
5information for each jobs creation project area to (i) the
6State Comptroller under Section 8-8-3.5 of the Illinois
7Municipal Code; (ii) the Department of Revenue, if applicable,
8and (iii) to all taxing districts overlapping the jobs
9creation project area no later than 180 days after the close of
10each municipal fiscal year or after the audited financial
11statements become available and, in any case, shall be
12submitted before the annual meeting of the Joint Review Board
13to each of the taxing districts that overlap the jobs creation
14project area:
15        (1) any amendments to the jobs creation plan or the
16    jobs creation project area;
17        (2) a list of the jobs creation project areas
18    administered by the municipality, the number of full time
19    equivalent jobs created by each jobs creation project
20    within the jobs creation project area, and, if applicable,
21    the date each jobs creation project area was designated or
22    terminated by the municipality;
23        (3) audited financial statements of the Jobs Creation
24    Finance Fund once a cumulative total of $100,000 has been
25    deposited into the fund;

 

 

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1        (4) certification of the chief executive officer of
2    the municipality that the municipality has complied with
3    all of the requirements of this Act during the preceding
4    fiscal year;
5        (5) an opinion of legal counsel that the municipality
6    is in compliance with this Act;
7        (6) an analysis of the Jobs Creation Finance Fund that
8    sets forth:
9            (A) the balance in the Jobs Creation Finance Fund
10        at the beginning of the fiscal year;
11            (B) all amounts deposited in the Jobs Creation
12        Finance Fund by source;
13            (C) an itemized list of all expenditures from the
14        Jobs Creation Finance fund by category of permissible
15        jobs creation project cost; and
16            (D) the balance in the Jobs Creation Finance Fund
17        at the end of the fiscal year including a breakdown of
18        that balance by: (i) source and use of funds by
19        increment; and (ii) identification of any surplus as
20        defined in Section 3 of this Act;
21        (7) a description of all property purchased by the
22    municipality within the jobs creation project area
23    including:
24            (A) street address;
25            (B) approximate size or description of property;
26            (C) purchase price; and

 

 

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1            (D) seller of property;
2        (8) a statement setting forth all activities
3    undertaken in furtherance of the objectives of the jobs
4    creation plan, including:
5            (A) any project implemented in the preceding
6        fiscal year;
7            (B) a description of the jobs creation activities
8        undertaken;
9            (C) a description of any agreements entered into
10        by the municipality with regard to the disposition or
11        redevelopment of any property within the jobs creation
12        project area or the area within the State Sales Tax
13        Boundary;
14            (D) any reports submitted to the municipality by
15        the joint review board; and
16            (E) a review of public and, to the extent
17        possible, private investment actually undertaken to
18        date and estimated to be undertaken during the
19        following year; this review shall, on a
20        project-by-project basis, set forth the estimated
21        amounts of public and private investment incurred;
22        (9) with regard to any obligations issued by the
23    municipality:
24            (A) copies of any official statements; and
25            (B) an analysis setting forth: (i) nature and term
26        of obligation; and (ii) projected debt service

 

 

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1        including required reserves and debt coverage if (i)
2        and (ii) are not included in the official statements;
3        (10) for Jobs Creation Finance Funds that have
4    experienced cumulative deposits of incremental tax
5    revenues of $100,000 or more, a certified audit report
6    reviewing compliance with this Act performed by an
7    independent public accountant certified and licensed by
8    the authority of the State of Illinois; the financial
9    portion of the audit must be conducted in accordance with
10    Standards for Audits of Governmental Organizations,
11    Programs, Activities, and Functions adopted by the
12    Comptroller General of the United States (1981), as
13    amended, or the standards specified by Section 8-8-5 of
14    the Illinois Municipal Auditing Law of the Illinois
15    Municipal Code; the audit report shall contain a letter
16    from the independent certified public accountant
17    indicating compliance or noncompliance with the
18    requirements of the Act; and
19        (11) the joint review board shall meet annually 180
20    days after the close of the municipal fiscal year or after
21    the jobs creation plan and project audit for that fiscal
22    year becomes available to review the effectiveness and
23    status of the jobs creation plan and project up to that
24    date.
 
25    Section 65. Overlapping tax increment financing districts;

 

 

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1enterprise zones.
2    (a) A jobs creation project area may overlap an existing
3tax increment financing district created pursuant to the Tax
4Increment Allocation Redevelopment Act. If any portion of the
5property taxes attributable to the increase in equalized
6assessed value within a jobs creation project area are, at the
7time of formation of the jobs creation project area, already
8subject to tax increment financing under the Tax Increment
9Allocation Redevelopment Act, then the tax increment for those
10tax parcels shall be frozen at the base year established in
11accordance with this Act, and all future incremental increases
12over the base year shall not be subject to tax increment
13financing under the Tax Increment Allocation Redevelopment
14Act, but rather, shall be subject to tax increment financing
15under this Act. Any party otherwise entitled to the receipt of
16incremental tax revenues pursuant to an existing tax increment
17redevelopment agreement shall be entitled to continue to
18receive those revenues. Nothing in this Act shall affect the
19prior qualification of existing redevelopment project costs
20incurred that are eligible for reimbursement under the Tax
21Increment Allocation Redevelopment Act.
22    (b) A jobs creation project area may overlap an existing
23enterprise zone created pursuant to the Enterprise Zone Act
24subject to the following:
25        (1) Developments that have been designated to receive
26    enterprise zone benefits shall continue to receive the

 

 

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1    designated real estate benefits and any other designated
2    benefits until the expiration of the designated benefits.
3        (2) If a developer with a jobs creation project within
4    an existing enterprise zone is not receiving enterprise
5    zone benefits or elects to terminate its existing
6    enterprise zone benefits, the developer shall be eligible
7    for benefits as set forth in this Act.
 
8    Section 70. Payment of project costs; revenues from
9municipal property. Revenues received by the municipality from
10any property, building, or facility owned, leased, or operated
11by the municipality or any agency or authority established by
12the municipality, or from repayments of loans, may be used to
13pay jobs creation project costs, or reduce outstanding
14obligations of the municipality incurred under this Act for
15jobs creation project costs. The municipality may place those
16revenues in the Jobs Creation Finance Fund, which shall be
17held by the municipal treasurer or other person designated by
18the municipality.
 
19    Section 75. Partial invalidity. If any Section,
20subdivision, paragraph, sentence, or clause of this Act is,
21for any reason, held to be invalid or unconstitutional, that
22decision shall not affect any remaining portion, Section, or
23part thereof that can be given effect without the invalid
24provision.
 

 

 

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1    Section 99. Effective date. This Act takes effect upon
2becoming law.