093_HB1445eng

 
HB1445 Engrossed                     LRB093 07967 MKM 08162 b

 1        AN ACT concerning municipalities.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Illinois  Municipal Code is amended by
 5    changing Section 8-8-3.5 as follows:

 6        (65 ILCS 5/8-8-3.5)
 7        Sec. 8-8-3.5.  Tax Increment financing report; evaluation
 8    task force.
 9        (a)  The reports filed under subsection  (d)  of  Section
10    11-74.4-5  of  the Tax Increment Allocation Redevelopment Act
11    and  the  reports  filed  under  subsection  (d)  of  Section
12    11-74.6-22  of  the  Industrial  Jobs  Recovery  Law  in  the
13    Illinois Municipal Code  must  be  separate  from  any  other
14    annual  report  filed  with the Comptroller.  The Comptroller
15    must, in cooperation with reporting municipalities, create  a
16    format   for   the  reporting  of  information  described  in
17    paragraphs (1.5) and (5) and in subparagraph (G) of paragraph
18    (7) of  subsection  (d)  of  Section  11-74.4-5  of  the  Tax
19    Increment  Allocation  Redevelopment  Act and the information
20    described in paragraphs (1.5) and (5) and in subparagraph (G)
21    of paragraph (7) of subsection (d) of Section  11-74.6-22  of
22    the  Industrial Jobs Recovery Law that facilitates consistent
23    reporting among the reporting municipalities. The Comptroller
24    may allow these reports to be filed  electronically  and  may
25    display the report, or portions of the report, electronically
26    via  the Internet.  All reports filed under this Section must
27    be made available for examination and copying by  the  public
28    at all reasonable times.
29        (b)  There is established the Tax Increment Effectiveness
30    Evaluation  Task  Force  to evaluate the effectiveness of tax
31    increment financing districts in Illinois.   The  Task  Force
 
HB1445 Engrossed            -2-      LRB093 07967 MKM 08162 b
 1    shall  consist  of  21  members  as follows:  the Director of
 2    Commerce and Community Affairs or his or  her  designee;  the
 3    State   Comptroller   or  his  or  her  designee;  the  State
 4    Superintendent of Education or his or her designee; 3 members
 5    appointed by the Director of Commerce and  Community  Affairs
 6    who  represent  small  and  large downstate municipalities in
 7    Illinois that have tax  increment  financing  districts;  one
 8    member with experience with tax increment financing appointed
 9    by   each  of  the  following  municipal  organizations:  the
10    Illinois  Municipal  League,  the  Illinois   Tax   Increment
11    Association,  the  Northwest  Municipal  Conference, the West
12    Central Municipal Conference, and the South Suburban  Mayors;
13    one  member representing the City of Chicago appointed by the
14    Mayor of Chicago; 2 members  appointed  by  the  Director  of
15    Commerce  and Community Affairs who are lawyers, planners, or
16    other professionals with extensive experience  with  Illinois
17    tax increment financing programs; one member appointed by the
18    Director  of Revenue; and 6 members appointed by the Governor
19    as follows: (i) 2 residents of Cook County; (ii) 2  residents
20    of  any  of  the  following  counties:  DuPage,  Kane,  Lake,
21    McHenry,  and  Will;  and  (iii)  2  residents  of  any other
22    counties in the State.  All members appointed by the Governor
23    must be either (i) a resident of a  tax  increment  financing
24    district or (ii) a representative of a community organization
25    with  an interest in tax increment financing.  The members of
26    the Task Force shall serve without  compensation.   The  Task
27    Force  shall  meet  initially  at the call of the Director of
28    Commerce and Community Affairs, shall select  one  member  as
29    chairperson at its initial meeting, and shall thereafter meet
30    at the call of the chairperson.
31        The duties of the Task Force shall include the following:
32             (1)  Study  the  statewide  tax  increment reporting
33        systems of other states.
34             (2)  Based on the study in item (1),  determine  the
 
HB1445 Engrossed            -3-      LRB093 07967 MKM 08162 b
 1        best  methods  to  use to evaluate the effectiveness of a
 2        tax increment financing district.
 3             (3)  Assess  the  availability  of  the  information
 4        necessary  to  establish  a  system  for  evaluating  the
 5        effectiveness of tax increment financing districts.
 6             (4)  Determine the methods  that  must  be  used  to
 7        collect all relevant needed information.
 8             (5)  Assess  the  amount of time and money necessary
 9        to establish a system for evaluating the effectiveness of
10        tax increment financing districts  and  if  it  would  be
11        appropriate to phase in the system.
12        The  Task  Force shall prepare and submit a report to the
13    General Assembly and to the Governor no later than  June  30,
14    2004  containing its recommendations for the establishment of
15    a system to  evaluate  the  effectiveness  of  tax  increment
16    financing districts in Illinois.
17    (Source: P.A. 91-478, eff. 11-1-99; 91-900, eff. 7-6-00.)

18        Section  99.  Effective date.  This Act takes effect upon
19    becoming law.