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Full Text of HB0571  102nd General Assembly

HB0571ham001 102ND GENERAL ASSEMBLY

Rep. Jonathan Carroll

Filed: 3/5/2021

 

 


 

 


 
10200HB0571ham001LRB102 10490 AWJ 22344 a

1
AMENDMENT TO HOUSE BILL 571

2    AMENDMENT NO. ______. Amend House Bill 571 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Municipal Code is amended by
5changing Sections 8-8-3.5, 11-74.4-5, and 11-74.6-22 as
6follows:
 
7    (65 ILCS 5/8-8-3.5)
8    Sec. 8-8-3.5. Tax Increment Financing Report. The reports
9filed under subsection (d) of Section 11-74.4-5 of the Tax
10Increment Allocation Redevelopment Act and the reports filed
11under subsection (d) of Section 11-74.6-22 of the Industrial
12Jobs Recovery Law in the Illinois Municipal Code must be
13separate from any other annual report filed with the
14Comptroller. The Comptroller must, in cooperation with
15reporting municipalities, create a format for the reporting of
16information described in paragraphs (1.5), and (5), and (8)

 

 

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1and in subparagraph (G) of paragraph (7) of subsection (d) of
2Section 11-74.4-5 of the Tax Increment Allocation
3Redevelopment Act and the information described in paragraphs
4(1.5), and (5), and (8) and in subparagraph (G) of paragraph
5(7) of subsection (d) of Section 11-74.6-22 of the Industrial
6Jobs Recovery Law that facilitates consistent reporting among
7the reporting municipalities. The Comptroller may allow these
8reports to be filed electronically and may display the report,
9or portions of the report, electronically via the Internet.
10All reports filed under this Section must be made available
11for examination and copying by the public at all reasonable
12times. A Tax Increment Financing Report must be filed
13electronically with the Comptroller within 180 days after the
14close of the municipal fiscal year or as soon thereafter as the
15audit for the redevelopment project area for that fiscal year
16becomes available. If the Tax Increment Finance administrator
17provides the Comptroller's office with sufficient evidence
18that the report is in the process of being completed by an
19auditor, the Comptroller may grant an extension. If the
20required report is not filed within the time extended by the
21Comptroller, the Comptroller shall notify the corporate
22authorities of that municipality that the audit report is past
23due. The Comptroller may charge a municipality a fee of $5 per
24day for the first 15 days past due, $10 per day for 16 through
2530 days past due, $15 per day for 31 through 45 days past due,
26and $20 per day for the 46th day and every day thereafter.

 

 

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1These amounts may be reduced at the Comptroller's discretion.
2In the event the required audit report is not filed within 60
3days of such notice, the Comptroller shall cause such audit to
4be made by an auditor or auditors. The Comptroller may decline
5to order an audit and the preparation of an audit report if an
6initial examination of the books and records of the
7municipality indicates that books and records of the
8municipality are inadequate or unavailable to support the
9preparation of the audit report or the supplemental report due
10to the passage of time or the occurrence of a natural disaster.
11All fees collected pursuant to this Section shall be deposited
12into the Comptroller's Administrative Fund. In the event the
13Comptroller causes an audit to be made in accordance with the
14requirements of this Section, the municipality shall pay to
15the Comptroller reasonable compensation and expenses to
16reimburse her for the cost of preparing or completing such
17report. Moneys paid to the Comptroller pursuant to the
18preceding sentence shall be deposited into the Comptroller's
19Audit Expense Revolving Fund.
20(Source: P.A. 101-419, eff. 1-1-20.)
 
21    (65 ILCS 5/11-74.4-5)  (from Ch. 24, par. 11-74.4-5)
22    Sec. 11-74.4-5. Public hearing; joint review board.
23    (a) The changes made by this amendatory Act of the 91st
24General Assembly do not apply to a municipality that, (i)
25before the effective date of this amendatory Act of the 91st

 

 

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1General Assembly, has adopted an ordinance or resolution
2fixing a time and place for a public hearing under this Section
3or (ii) before July 1, 1999, has adopted an ordinance or
4resolution providing for a feasibility study under Section
511-74.4-4.1, but has not yet adopted an ordinance approving
6redevelopment plans and redevelopment projects or designating
7redevelopment project areas under Section 11-74.4-4, until
8after that municipality adopts an ordinance approving
9redevelopment plans and redevelopment projects or designating
10redevelopment project areas under Section 11-74.4-4;
11thereafter the changes made by this amendatory Act of the 91st
12General Assembly apply to the same extent that they apply to
13redevelopment plans and redevelopment projects that were
14approved and redevelopment projects that were designated
15before the effective date of this amendatory Act of the 91st
16General Assembly.
17    Prior to the adoption of an ordinance proposing the
18designation of a redevelopment project area, or approving a
19redevelopment plan or redevelopment project, the municipality
20by its corporate authorities, or as it may determine by any
21commission designated under subsection (k) of Section
2211-74.4-4 shall adopt an ordinance or resolution fixing a time
23and place for public hearing. At least 10 days prior to the
24adoption of the ordinance or resolution establishing the time
25and place for the public hearing, the municipality shall make
26available for public inspection a redevelopment plan or a

 

 

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1separate report that provides in reasonable detail the basis
2for the eligibility of the redevelopment project area. The
3report along with the name of a person to contact for further
4information shall be sent within a reasonable time after the
5adoption of such ordinance or resolution to the affected
6taxing districts by certified mail. On and after the effective
7date of this amendatory Act of the 91st General Assembly, the
8municipality shall print in a newspaper of general circulation
9within the municipality a notice that interested persons may
10register with the municipality in order to receive information
11on the proposed designation of a redevelopment project area or
12the approval of a redevelopment plan. The notice shall state
13the place of registration and the operating hours of that
14place. The municipality shall have adopted reasonable rules to
15implement this registration process under Section 11-74.4-4.2.
16The municipality shall provide notice of the availability of
17the redevelopment plan and eligibility report, including how
18to obtain this information, by mail within a reasonable time
19after the adoption of the ordinance or resolution, to all
20residential addresses that, after a good faith effort, the
21municipality determines are located outside the proposed
22redevelopment project area and within 750 feet of the
23boundaries of the proposed redevelopment project area. This
24requirement is subject to the limitation that in a
25municipality with a population of over 100,000, if the total
26number of residential addresses outside the proposed

 

 

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1redevelopment project area and within 750 feet of the
2boundaries of the proposed redevelopment project area exceeds
3750, the municipality shall be required to provide the notice
4to only the 750 residential addresses that, after a good faith
5effort, the municipality determines are outside the proposed
6redevelopment project area and closest to the boundaries of
7the proposed redevelopment project area. Notwithstanding the
8foregoing, notice given after August 7, 2001 (the effective
9date of Public Act 92-263) and before the effective date of
10this amendatory Act of the 92nd General Assembly to
11residential addresses within 750 feet of the boundaries of a
12proposed redevelopment project area shall be deemed to have
13been sufficiently given in compliance with this Act if given
14only to residents outside the boundaries of the proposed
15redevelopment project area. The notice shall also be provided
16by the municipality, regardless of its population, to those
17organizations and residents that have registered with the
18municipality for that information in accordance with the
19registration guidelines established by the municipality under
20Section 11-74.4-4.2.
21    At the public hearing any interested person or affected
22taxing district may file with the municipal clerk written
23objections to and may be heard orally in respect to any issues
24embodied in the notice. The municipality shall hear all
25protests and objections at the hearing and the hearing may be
26adjourned to another date without further notice other than a

 

 

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1motion to be entered upon the minutes fixing the time and place
2of the subsequent hearing. At the public hearing or at any time
3prior to the adoption by the municipality of an ordinance
4approving a redevelopment plan, the municipality may make
5changes in the redevelopment plan. Changes which (1) add
6additional parcels of property to the proposed redevelopment
7project area, (2) substantially affect the general land uses
8proposed in the redevelopment plan, (3) substantially change
9the nature of or extend the life of the redevelopment project,
10or (4) increase the number of inhabited residential units to
11be displaced from the redevelopment project area, as measured
12from the time of creation of the redevelopment project area,
13to a total of more than 10, shall be made only after the
14municipality gives notice, convenes a joint review board, and
15conducts a public hearing pursuant to the procedures set forth
16in this Section and in Section 11-74.4-6 of this Act. Changes
17which do not (1) add additional parcels of property to the
18proposed redevelopment project area, (2) substantially affect
19the general land uses proposed in the redevelopment plan, (3)
20substantially change the nature of or extend the life of the
21redevelopment project, or (4) increase the number of inhabited
22residential units to be displaced from the redevelopment
23project area, as measured from the time of creation of the
24redevelopment project area, to a total of more than 10, may be
25made without further hearing, provided that the municipality
26shall give notice of any such changes by mail to each affected

 

 

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1taxing district and registrant on the interested parties
2registry, provided for under Section 11-74.4-4.2, and by
3publication in a newspaper of general circulation within the
4affected taxing district. Such notice by mail and by
5publication shall each occur not later than 10 days following
6the adoption by ordinance of such changes. Hearings with
7regard to a redevelopment project area, project or plan may be
8held simultaneously.
9    (b) Prior to holding a public hearing to approve or amend a
10redevelopment plan or to designate or add additional parcels
11of property to a redevelopment project area, the municipality
12shall convene a joint review board. The board shall consist of
13a representative selected by each community college district,
14local elementary school district and high school district or
15each local community unit school district, park district,
16library district, township, fire protection district, and
17county that will have the authority to directly levy taxes on
18the property within the proposed redevelopment project area at
19the time that the proposed redevelopment project area is
20approved, a representative selected by the municipality and a
21public member. The public member shall first be selected and
22then the board's chairperson shall be selected by a majority
23of the board members present and voting.
24    For redevelopment project areas with redevelopment plans
25or proposed redevelopment plans that would result in the
26displacement of residents from 10 or more inhabited

 

 

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1residential units or that include 75 or more inhabited
2residential units, the public member shall be a person who
3resides in the redevelopment project area. If, as determined
4by the housing impact study provided for in paragraph (5) of
5subsection (n) of Section 11-74.4-3, or if no housing impact
6study is required then based on other reasonable data, the
7majority of residential units are occupied by very low, low,
8or moderate income households, as defined in Section 3 of the
9Illinois Affordable Housing Act, the public member shall be a
10person who resides in very low, low, or moderate income
11housing within the redevelopment project area. Municipalities
12with fewer than 15,000 residents shall not be required to
13select a person who lives in very low, low, or moderate income
14housing within the redevelopment project area, provided that
15the redevelopment plan or project will not result in
16displacement of residents from 10 or more inhabited units, and
17the municipality so certifies in the plan. If no person
18satisfying these requirements is available or if no qualified
19person will serve as the public member, then the joint review
20board is relieved of this paragraph's selection requirements
21for the public member.
22    Within 90 days of the effective date of this amendatory
23Act of the 91st General Assembly, each municipality that
24designated a redevelopment project area for which it was not
25required to convene a joint review board under this Section
26shall convene a joint review board to perform the duties

 

 

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1specified under paragraph (e) of this Section.
2    All board members shall be appointed and the first board
3meeting shall be held at least 14 days but not more than 28
4days after the mailing of notice by the municipality to the
5taxing districts as required by Section 11-74.4-6(c).
6Notwithstanding the preceding sentence, a municipality that
7adopted either a public hearing resolution or a feasibility
8resolution between July 1, 1999 and July 1, 2000 that called
9for the meeting of the joint review board within 14 days of
10notice of public hearing to affected taxing districts is
11deemed to be in compliance with the notice, meeting, and
12public hearing provisions of the Act. Such notice shall also
13advise the taxing bodies represented on the joint review board
14of the time and place of the first meeting of the board.
15Additional meetings of the board shall be held upon the call of
16any member. The municipality seeking designation of the
17redevelopment project area shall provide administrative
18support to the board.
19    The board shall review (i) the public record, planning
20documents and proposed ordinances approving the redevelopment
21plan and project and (ii) proposed amendments to the
22redevelopment plan or additions of parcels of property to the
23redevelopment project area to be adopted by the municipality.
24As part of its deliberations, the board may hold additional
25hearings on the proposal. A board's recommendation shall be an
26advisory, non-binding recommendation. The recommendation shall

 

 

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1be adopted by a majority of those members present and voting.
2The recommendations shall be submitted to the municipality
3within 30 days after convening of the board. Failure of the
4board to submit its report on a timely basis shall not be cause
5to delay the public hearing or any other step in the process of
6designating or amending the redevelopment project area but
7shall be deemed to constitute approval by the joint review
8board of the matters before it.
9    The board shall base its recommendation to approve or
10disapprove the redevelopment plan and the designation of the
11redevelopment project area or the amendment of the
12redevelopment plan or addition of parcels of property to the
13redevelopment project area on the basis of the redevelopment
14project area and redevelopment plan satisfying the plan
15requirements, the eligibility criteria defined in Section
1611-74.4-3, and the objectives of this Act.
17    The board shall issue a written report describing why the
18redevelopment plan and project area or the amendment thereof
19meets or fails to meet one or more of the objectives of this
20Act and both the plan requirements and the eligibility
21criteria defined in Section 11-74.4-3. In the event the Board
22does not file a report it shall be presumed that these taxing
23bodies find the redevelopment project area and redevelopment
24plan satisfy the objectives of this Act and the plan
25requirements and eligibility criteria.
26    If the board recommends rejection of the matters before

 

 

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1it, the municipality will have 30 days within which to
2resubmit the plan or amendment. During this period, the
3municipality will meet and confer with the board and attempt
4to resolve those issues set forth in the board's written
5report that led to the rejection of the plan or amendment.
6    Notwithstanding the resubmission set forth above, the
7municipality may commence the scheduled public hearing and
8either adjourn the public hearing or continue the public
9hearing until a date certain. Prior to continuing any public
10hearing to a date certain, the municipality shall announce
11during the public hearing the time, date, and location for the
12reconvening of the public hearing. Any changes to the
13redevelopment plan necessary to satisfy the issues set forth
14in the joint review board report shall be the subject of a
15public hearing before the hearing is adjourned if the changes
16would (1) substantially affect the general land uses proposed
17in the redevelopment plan, (2) substantially change the nature
18of or extend the life of the redevelopment project, or (3)
19increase the number of inhabited residential units to be
20displaced from the redevelopment project area, as measured
21from the time of creation of the redevelopment project area,
22to a total of more than 10. Changes to the redevelopment plan
23necessary to satisfy the issues set forth in the joint review
24board report shall not require any further notice or convening
25of a joint review board meeting, except that any changes to the
26redevelopment plan that would add additional parcels of

 

 

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1property to the proposed redevelopment project area shall be
2subject to the notice, public hearing, and joint review board
3meeting requirements established for such changes by
4subsection (a) of Section 11-74.4-5.
5    In the event that the municipality and the board are
6unable to resolve these differences, or in the event that the
7resubmitted plan or amendment is rejected by the board, the
8municipality may proceed with the plan or amendment, but only
9upon a three-fifths vote of the corporate authority
10responsible for approval of the plan or amendment, excluding
11positions of members that are vacant and those members that
12are ineligible to vote because of conflicts of interest.
13    (c) After a municipality has by ordinance approved a
14redevelopment plan and designated a redevelopment project
15area, the plan may be amended and additional properties may be
16added to the redevelopment project area only as herein
17provided. Amendments which (1) add additional parcels of
18property to the proposed redevelopment project area, (2)
19substantially affect the general land uses proposed in the
20redevelopment plan, (3) substantially change the nature of the
21redevelopment project, (4) increase the total estimated
22redevelopment project costs set out in the redevelopment plan
23by more than 5% after adjustment for inflation from the date
24the plan was adopted, (5) add additional redevelopment project
25costs to the itemized list of redevelopment project costs set
26out in the redevelopment plan, or (6) increase the number of

 

 

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1inhabited residential units to be displaced from the
2redevelopment project area, as measured from the time of
3creation of the redevelopment project area, to a total of more
4than 10, shall be made only after the municipality gives
5notice, convenes a joint review board, and conducts a public
6hearing pursuant to the procedures set forth in this Section
7and in Section 11-74.4-6 of this Act. Changes which do not (1)
8add additional parcels of property to the proposed
9redevelopment project area, (2) substantially affect the
10general land uses proposed in the redevelopment plan, (3)
11substantially change the nature of the redevelopment project,
12(4) increase the total estimated redevelopment project cost
13set out in the redevelopment plan by more than 5% after
14adjustment for inflation from the date the plan was adopted,
15(5) add additional redevelopment project costs to the itemized
16list of redevelopment project costs set out in the
17redevelopment plan, or (6) increase the number of inhabited
18residential units to be displaced from the redevelopment
19project area, as measured from the time of creation of the
20redevelopment project area, to a total of more than 10, may be
21made without further public hearing and related notices and
22procedures including the convening of a joint review board as
23set forth in Section 11-74.4-6 of this Act, provided that the
24municipality shall give notice of any such changes by mail to
25each affected taxing district and registrant on the interested
26parties registry, provided for under Section 11-74.4-4.2, and

 

 

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1by publication in a newspaper of general circulation within
2the affected taxing district. Such notice by mail and by
3publication shall each occur not later than 10 days following
4the adoption by ordinance of such changes.
5    (d) After the effective date of this amendatory Act of the
691st General Assembly, a municipality shall submit in an
7electronic format the following information for each
8redevelopment project area (i) to the State Comptroller under
9Section 8-8-3.5 of the Illinois Municipal Code, subject to any
10extensions or exemptions provided at the Comptroller's
11discretion under that Section, and (ii) to all taxing
12districts overlapping the redevelopment project area no later
13than 180 days after the close of each municipal fiscal year or
14as soon thereafter as the audited financial statements become
15available and, in any case, shall be submitted before the
16annual meeting of the Joint Review Board to each of the taxing
17districts that overlap the redevelopment project area:
18        (1) Any amendments to the redevelopment plan, the
19    redevelopment project area, or the State Sales Tax
20    Boundary.
21        (1.5) A list of the redevelopment project areas
22    administered by the municipality and, if applicable, the
23    date each redevelopment project area was designated or
24    terminated by the municipality.
25        (2) Audited financial statements of the special tax
26    allocation fund once a cumulative total of $100,000 has

 

 

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1    been deposited in the fund.
2        (3) Certification of the Chief Executive Officer of
3    the municipality that the municipality has complied with
4    all of the requirements of this Act during the preceding
5    fiscal year.
6        (4) An opinion of legal counsel that the municipality
7    is in compliance with this Act.
8        (5) An analysis of the special tax allocation fund
9    which sets forth:
10            (A) the balance in the special tax allocation fund
11        at the beginning of the fiscal year;
12            (B) all amounts deposited in the special tax
13        allocation fund by source;
14            (C) an itemized list of all expenditures from the
15        special tax allocation fund by category of permissible
16        redevelopment project cost; and
17            (D) the balance in the special tax allocation fund
18        at the end of the fiscal year including a breakdown of
19        that balance by source and a breakdown of that balance
20        identifying any portion of the balance that is
21        required, pledged, earmarked, or otherwise designated
22        for payment of or securing of obligations and
23        anticipated redevelopment project costs. Any portion
24        of such ending balance that has not been identified or
25        is not identified as being required, pledged,
26        earmarked, or otherwise designated for payment of or

 

 

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1        securing of obligations or anticipated redevelopment
2        projects costs shall be designated as surplus as set
3        forth in Section 11-74.4-7 hereof.
4        (6) A description of all property purchased by the
5    municipality within the redevelopment project area
6    including:
7            (A) Street address.
8            (B) Approximate size or description of property.
9            (C) Purchase price.
10            (D) Seller of property.
11        (7) A statement setting forth all activities
12    undertaken in furtherance of the objectives of the
13    redevelopment plan, including:
14            (A) Any project implemented in the preceding
15        fiscal year.
16            (B) A description of the redevelopment activities
17        undertaken.
18            (C) A description of any agreements entered into
19        by the municipality with regard to the disposition or
20        redevelopment of any property within the redevelopment
21        project area or the area within the State Sales Tax
22        Boundary.
23            (D) Additional information on the use of all funds
24        received under this Division and steps taken by the
25        municipality to achieve the objectives of the
26        redevelopment plan.

 

 

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1            (E) Information regarding contracts that the
2        municipality's tax increment advisors or consultants
3        have entered into with entities or persons that have
4        received, or are receiving, payments financed by tax
5        increment revenues produced by the same redevelopment
6        project area.
7            (F) Any reports submitted to the municipality by
8        the joint review board.
9            (G) A review of public and, to the extent
10        possible, private investment actually undertaken to
11        date after the effective date of this amendatory Act
12        of the 91st General Assembly and estimated to be
13        undertaken during the following year. This review
14        shall, on a project-by-project basis, set forth the
15        estimated amounts of public and private investment
16        incurred after the effective date of this amendatory
17        Act of the 91st General Assembly and provide the ratio
18        of private investment to public investment to the date
19        of the report and as estimated to the completion of the
20        redevelopment project.
21        (8) With regard to any obligations issued by the
22    municipality:
23            (A) copies of any official statements; and
24            (B) an analysis prepared by financial advisor or
25        underwriter, chosen by the municipality, setting forth
26        the: (i) nature and term of obligation; and (ii)

 

 

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1        projected debt service including required reserves and
2        debt coverage; and (iii) actual debt service.
3        (9) For special tax allocation 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 subsection (q) of Section 11-74.4-3. For
19    redevelopment plans or projects that would result in the
20    displacement of residents from 10 or more inhabited
21    residential units or that contain 75 or more inhabited
22    residential units, notice of the availability of the
23    information, including how to obtain the report, required
24    in this subsection shall also be sent by mail to all
25    residents or organizations that operate in the
26    municipality that register with the municipality for that

 

 

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1    information according to registration procedures adopted
2    under Section 11-74.4-4.2. All municipalities are subject
3    to this provision.
4        (10) A list of all intergovernmental agreements in
5    effect during the fiscal year to which the municipality is
6    a party and an accounting of any moneys transferred or
7    received by the municipality during that fiscal year
8    pursuant to those intergovernmental agreements.
9    In addition to information required to be reported under
10this Section, for Fiscal Year 2022 and each fiscal year
11thereafter, reporting municipalities shall also report to the
12Comptroller annually in a manner and format prescribed by the
13Comptroller: (1) the number of jobs, if any, projected to be
14created for each redevelopment project area at the time of
15approval of the redevelopment agreement; (2) the number of
16jobs, if any, created as a result of the development to date
17for that reporting period under the same guidelines and
18assumptions as was used for the projections used at the time of
19approval of the redevelopment agreement; (3) the amount of
20increment projected to be created at the time of approval of
21the redevelopment agreement for each redevelopment project
22area; (4) the amount of increment created as a result of the
23development to date for that reporting period using the same
24assumptions as was used for the projections used at the time of
25the approval of the redevelopment agreement; and (5) the
26stated rate of return identified by the developer to the

 

 

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1municipality for each redevelopment project area, if any.
2Stated rates of return required to be reported in item (5)
3shall be independently verified by a third party chosen by the
4municipality. Reporting municipalities shall also report to
5the Comptroller a copy of the redevelopment plan each time the
6redevelopment plan is enacted, amended, or extended in a
7manner and format prescribed by the Comptroller. These
8requirements shall only apply to redevelopment projects
9beginning in or after Fiscal Year 2022.
10    (d-1) Prior to the effective date of this amendatory Act
11of the 91st General Assembly, municipalities with populations
12of over 1,000,000 shall, after adoption of a redevelopment
13plan or project, make available upon request to any taxing
14district in which the redevelopment project area is located
15the following information:
16        (1) Any amendments to the redevelopment plan, the
17    redevelopment project area, or the State Sales Tax
18    Boundary; and
19        (2) In connection with any redevelopment project area
20    for which the municipality has outstanding obligations
21    issued to provide for redevelopment project costs pursuant
22    to Section 11-74.4-7, audited financial statements of the
23    special tax allocation fund.
24    (e) The joint review board shall meet annually 180 days
25after the close of the municipal fiscal year or as soon as the
26redevelopment project audit for that fiscal year becomes

 

 

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1available to review the effectiveness and status of the
2redevelopment project area up to that date.
3    (f) (Blank).
4    (g) In the event that a municipality has held a public
5hearing under this Section prior to March 14, 1994 (the
6effective date of Public Act 88-537), the requirements imposed
7by Public Act 88-537 relating to the method of fixing the time
8and place for public hearing, the materials and information
9required to be made available for public inspection, and the
10information required to be sent after adoption of an ordinance
11or resolution fixing a time and place for public hearing shall
12not be applicable.
13    (h) On and after the effective date of this amendatory Act
14of the 96th General Assembly, the State Comptroller must post
15on the State Comptroller's official website the information
16submitted by a municipality pursuant to subsection (d) of this
17Section. The information must be posted no later than 45 days
18after the State Comptroller receives the information from the
19municipality. The State Comptroller must also post a list of
20the municipalities not in compliance with the reporting
21requirements set forth in subsection (d) of this Section.
22    (i) No later than 10 years after the corporate authorities
23of a municipality adopt an ordinance to establish a
24redevelopment project area, the municipality must compile a
25status report concerning the redevelopment project area. The
26status report must detail without limitation the following:

 

 

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1(i) the amount of revenue generated within the redevelopment
2project area, (ii) any expenditures made by the municipality
3for the redevelopment project area including without
4limitation expenditures from the special tax allocation fund,
5(iii) the status of planned activities, goals, and objectives
6set forth in the redevelopment plan including details on new
7or planned construction within the redevelopment project area,
8(iv) the amount of private and public investment within the
9redevelopment project area, and (v) any other relevant
10evaluation or performance data. Within 30 days after the
11municipality compiles the status report, the municipality must
12hold at least one public hearing concerning the report. The
13municipality must provide 20 days' public notice of the
14hearing.
15    (j) Beginning in fiscal year 2011 and in each fiscal year
16thereafter, a municipality must detail in its annual budget
17(i) the revenues generated from redevelopment project areas by
18source and (ii) the expenditures made by the municipality for
19redevelopment project areas.
20(Source: P.A. 98-922, eff. 8-15-14.)
 
21    (65 ILCS 5/11-74.6-22)
22    Sec. 11-74.6-22. Adoption of ordinance; requirements;
23changes.
24    (a) Before adoption of an ordinance proposing the
25designation of a redevelopment planning area or a

 

 

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1redevelopment project area, or both, or approving a
2redevelopment plan or redevelopment project, the municipality
3or commission designated pursuant to subsection (l) of Section
411-74.6-15 shall fix by ordinance or resolution a time and
5place for public hearing. Prior to the adoption of the
6ordinance or resolution establishing the time and place for
7the public hearing, the municipality shall make available for
8public inspection a redevelopment plan or a report that
9provides in sufficient detail, the basis for the eligibility
10of the redevelopment project area. The report along with the
11name of a person to contact for further information shall be
12sent to the affected taxing district by certified mail within
13a reasonable time following the adoption of the ordinance or
14resolution establishing the time and place for the public
15hearing.
16    At the public hearing any interested person or affected
17taxing district may file with the municipal clerk written
18objections to the ordinance and may be heard orally on any
19issues that are the subject of the hearing. The municipality
20shall hear and determine all alternate proposals or bids for
21any proposed conveyance, lease, mortgage or other disposition
22of land and all protests and objections at the hearing and the
23hearing may be adjourned to another date without further
24notice other than a motion to be entered upon the minutes
25fixing the time and place of the later hearing. At the public
26hearing or at any time prior to the adoption by the

 

 

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1municipality of an ordinance approving a redevelopment plan,
2the municipality may make changes in the redevelopment plan.
3Changes which (1) add additional parcels of property to the
4proposed redevelopment project area, (2) substantially affect
5the general land uses proposed in the redevelopment plan, or
6(3) substantially change the nature of or extend the life of
7the redevelopment project shall be made only after the
8municipality gives notice, convenes a joint review board, and
9conducts a public hearing pursuant to the procedures set forth
10in this Section and in Section 11-74.6-25. Changes which do
11not (1) add additional parcels of property to the proposed
12redevelopment project area, (2) substantially affect the
13general land uses proposed in the redevelopment plan, or (3)
14substantially change the nature of or extend the life of the
15redevelopment project may be made without further hearing,
16provided that the municipality shall give notice of any such
17changes by mail to each affected taxing district and by
18publication once in a newspaper of general circulation within
19the affected taxing district. Such notice by mail and by
20publication shall each occur not later than 10 days following
21the adoption by ordinance of such changes.
22    (b) Before adoption of an ordinance proposing the
23designation of a redevelopment planning area or a
24redevelopment project area, or both, or amending the
25boundaries of an existing redevelopment project area or
26redevelopment planning area, or both, the municipality shall

 

 

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1convene a joint review board to consider the proposal. The
2board shall consist of a representative selected by each
3taxing district that has authority to levy real property taxes
4on the property within the proposed redevelopment project area
5and that has at least 5% of its total equalized assessed value
6located within the proposed redevelopment project area, a
7representative selected by the municipality and a public
8member. The public member and the board's chairperson shall be
9selected by a majority of other board members.
10    All board members shall be appointed and the first board
11meeting held within 14 days following the notice by the
12municipality to all the taxing districts as required by
13subsection (c) of Section 11-74.6-25. The notice shall also
14advise the taxing bodies represented on the joint review board
15of the time and place of the first meeting of the board.
16Additional meetings of the board shall be held upon the call of
17any 2 members. The municipality seeking designation of the
18redevelopment project area may provide administrative support
19to the board.
20    The board shall review the public record, planning
21documents and proposed ordinances approving the redevelopment
22plan and project to be adopted by the municipality. As part of
23its deliberations, the board may hold additional hearings on
24the proposal. A board's recommendation, if any, shall be a
25written recommendation adopted by a majority vote of the board
26and submitted to the municipality within 30 days after the

 

 

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1board convenes. A board's recommendation shall be binding upon
2the municipality. Failure of the board to submit its
3recommendation on a timely basis shall not be cause to delay
4the public hearing or the process of establishing or amending
5the redevelopment project area. The board's recommendation on
6the proposal shall be based upon the area satisfying the
7applicable eligibility criteria defined in Section 11-74.6-10
8and whether there is a basis for the municipal findings set
9forth in the redevelopment plan as required by this Act. If the
10board does not file a recommendation it shall be presumed that
11the board has found that the redevelopment project area
12satisfies the eligibility criteria.
13    (c) After a municipality has by ordinance approved a
14redevelopment plan and designated a redevelopment planning
15area or a redevelopment project area, or both, the plan may be
16amended and additional properties may be added to the
17redevelopment project area only as herein provided. Amendments
18which (1) add additional parcels of property to the proposed
19redevelopment project area, (2) substantially affect the
20general land uses proposed in the redevelopment plan, (3)
21substantially change the nature of the redevelopment project,
22(4) increase the total estimated redevelopment project costs
23set out in the redevelopment plan by more than 5% after
24adjustment for inflation from the date the plan was adopted,
25or (5) add additional redevelopment project costs to the
26itemized list of redevelopment project costs set out in the

 

 

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1redevelopment plan shall be made only after the municipality
2gives notice, convenes a joint review board, and conducts a
3public hearing pursuant to the procedures set forth in this
4Section and in Section 11-74.6-25. Changes which do not (1)
5add additional parcels of property to the proposed
6redevelopment project area, (2) substantially affect the
7general land uses proposed in the redevelopment plan, (3)
8substantially change the nature of the redevelopment project,
9(4) increase the total estimated redevelopment project cost
10set out in the redevelopment plan by more than 5% after
11adjustment for inflation from the date the plan was adopted,
12or (5) add additional redevelopment project costs to the
13itemized list of redevelopment project costs set out in the
14redevelopment plan may be made without further hearing,
15provided that the municipality shall give notice of any such
16changes by mail to each affected taxing district and by
17publication once in a newspaper of general circulation within
18the affected taxing district. Such notice by mail and by
19publication shall each occur not later than 10 days following
20the adoption by ordinance of such changes.
21    Notwithstanding Section 11-74.6-50, the redevelopment
22project area established by an ordinance adopted in its final
23form on December 19, 2011 by the City of Loves Park may be
24expanded by the adoption of an ordinance to that effect
25without further hearing or notice to include land that (i) is
26at least in part contiguous to the existing redevelopment

 

 

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1project area, (ii) does not exceed approximately 16.56 acres,
2(iii) at the time of the establishment of the redevelopment
3project area would have been otherwise eligible for inclusion
4in the redevelopment project area, and (iv) is zoned so as to
5comply with this Act prior to its inclusion in the
6redevelopment project area.
7    (d) After the effective date of this amendatory Act of the
891st General Assembly, a municipality shall submit the
9following information for each redevelopment project area (i)
10to the State Comptroller under Section 8-8-3.5 of the Illinois
11Municipal Code, subject to any extensions or exemptions
12provided at the Comptroller's discretion under that Section,
13and (ii) to all taxing districts overlapping the redevelopment
14project area no later than 180 days after the close of each
15municipal fiscal year or as soon thereafter as the audited
16financial statements become available and, in any case, shall
17be submitted before the annual meeting of the joint review
18board to each of the taxing districts that overlap the
19redevelopment project area:
20        (1) Any amendments to the redevelopment plan, or the
21    redevelopment project area.
22        (1.5) A list of the redevelopment project areas
23    administered by the municipality and, if applicable, the
24    date each redevelopment project area was designated or
25    terminated by the municipality.
26        (2) Audited financial statements of the special tax

 

 

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1    allocation fund once a cumulative total of $100,000 of tax
2    increment revenues has been deposited in the fund.
3        (3) Certification of the Chief Executive Officer of
4    the municipality that the municipality has complied with
5    all of the requirements of this Act during the preceding
6    fiscal year.
7        (4) An opinion of legal counsel that the municipality
8    is in compliance with this Act.
9        (5) An analysis of the special tax allocation fund
10    which sets forth:
11            (A) the balance in the special tax allocation fund
12        at the beginning of the fiscal year;
13            (B) all amounts deposited in the special tax
14        allocation fund by source;
15            (C) an itemized list of all expenditures from the
16        special tax allocation fund by category of permissible
17        redevelopment project cost; and
18            (D) the balance in the special tax allocation fund
19        at the end of the fiscal year including a breakdown of
20        that balance by source and a breakdown of that balance
21        identifying any portion of the balance that is
22        required, pledged, earmarked, or otherwise designated
23        for payment of or securing of obligations and
24        anticipated redevelopment project costs. Any portion
25        of such ending balance that has not been identified or
26        is not identified as being required, pledged,

 

 

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1        earmarked, or otherwise designated for payment of or
2        securing of obligations or anticipated redevelopment
3        project costs shall be designated as surplus as set
4        forth in Section 11-74.6-30 hereof.
5        (6) A description of all property purchased by the
6    municipality within the redevelopment project area
7    including:
8            (A) Street address.
9            (B) Approximate size or description of property.
10            (C) Purchase price.
11            (D) Seller of property.
12        (7) A statement setting forth all activities
13    undertaken in furtherance of the objectives of the
14    redevelopment plan, including:
15            (A) Any project implemented in the preceding
16        fiscal year.
17            (B) A description of the redevelopment activities
18        undertaken.
19            (C) A description of any agreements entered into
20        by the municipality with regard to the disposition or
21        redevelopment of any property within the redevelopment
22        project area.
23            (D) Additional information on the use of all funds
24        received under this Division and steps taken by the
25        municipality to achieve the objectives of the
26        redevelopment plan.

 

 

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1            (E) Information regarding contracts that the
2        municipality's tax increment advisors or consultants
3        have entered into with entities or persons that have
4        received, or are receiving, payments financed by tax
5        increment revenues produced by the same redevelopment
6        project area.
7            (F) Any reports submitted to the municipality by
8        the joint review board.
9            (G) A review of public and, to the extent
10        possible, private investment actually undertaken to
11        date after the effective date of this amendatory Act
12        of the 91st General Assembly and estimated to be
13        undertaken during the following year. This review
14        shall, on a project-by-project basis, set forth the
15        estimated amounts of public and private investment
16        incurred after the effective date of this amendatory
17        Act of the 91st General Assembly and provide the ratio
18        of private investment to public investment to the date
19        of the report and as estimated to the completion of the
20        redevelopment project.
21        (8) With regard to any obligations issued by the
22    municipality:
23            (A) copies of any official statements; and
24            (B) an analysis prepared by financial advisor or
25        underwriter, chosen by the municipality, setting
26        forth: (i) nature and term of obligation; and (ii)

 

 

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1        projected debt service including required reserves and
2        debt coverage; and (iii) actual debt service.
3        (9) For special tax allocation funds that have
4    received cumulative deposits of incremental tax revenues
5    of $100,000 or more, a certified audit report reviewing
6    compliance with this Act performed by an independent
7    public accountant certified and licensed by the authority
8    of the State of Illinois. The financial portion of the
9    audit must be conducted in accordance with Standards for
10    Audits of Governmental Organizations, Programs,
11    Activities, and Functions adopted by the Comptroller
12    General of the United States (1981), as amended, or the
13    standards specified by Section 8-8-5 of the Illinois
14    Municipal Auditing Law of the Illinois Municipal Code. The
15    audit report shall contain a letter from the independent
16    certified public accountant indicating compliance or
17    noncompliance with the requirements of subsection (o) of
18    Section 11-74.6-10.
19    In addition to information required to be reported under
20this Section, for Fiscal Year 2022 and each fiscal year
21thereafter, reporting municipalities shall also report to the
22Comptroller annually in a manner and format prescribed by the
23Comptroller: (1) the number of jobs, if any, projected to be
24created for each redevelopment project area at the time of
25approval of the redevelopment agreement; (2) the number of
26jobs, if any, created as a result of the development to date

 

 

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1for that reporting period under the same guidelines and
2assumptions as was used for the projections used at the time of
3approval of the redevelopment agreement; (3) the amount of
4increment projected to be created at the time of approval of
5the redevelopment agreement for each redevelopment project
6area; (4) the amount of increment created as a result of the
7development to date for that reporting period using the same
8assumptions as was used for the projections used at the time of
9the approval of the redevelopment agreement; and (5) the
10stated rate of return identified by the developer to the
11municipality for each redevelopment project area, if any.
12Stated rates of return required to be reported in item (5)
13shall be independently verified by a third party chosen by the
14municipality. Reporting municipalities shall also report to
15the Comptroller a copy of the redevelopment plan each time the
16redevelopment plan is enacted, amended, or extended in a
17manner and format prescribed by the Comptroller. These
18requirements shall only apply to redevelopment projects
19beginning in or after Fiscal Year 2022.
20    (e) The joint review board shall meet annually 180 days
21after the close of the municipal fiscal year or as soon as the
22redevelopment project audit for that fiscal year becomes
23available to review the effectiveness and status of the
24redevelopment project area up to that date.
25(Source: P.A. 98-922, eff. 8-15-14; 99-792, eff. 8-12-16.)
 

 

 

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