State of Illinois
91st General Assembly
Legislation

   [ Search ]   [ Legislation ]
[ Home ]   [ Back ]   [ Bottom ]


[ Engrossed ][ Enrolled ][ House Amendment 001 ]
[ House Amendment 002 ]

91_SB1451

 
                                               LRB9110178MWgc

 1        AN ACT to amend the Illinois Municipal Code  by  changing
 2    Sections 8-8-3.5 and 11-74.6-22.

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

 5        Section 5.  The Illinois Municipal  Code  is  amended  by
 6    changing Sections 8-8-3.5 and 11-74.6-22 as follows:

 7        (65 ILCS 5/8-8-3.5)
 8        Sec.  8-8-3.5.   Tax  Increment  Financing  Report.   The
 9    reports  filed  under  subsection (d) of Section 11-74.4-5 of
10    the  Tax  Increment  Allocation  Redevelopment  Act  and  the
11    reports filed under subsection (d) of the Section  11-74.6-22
12    of the Industrial Jobs Recovery Law in the Illinois Municipal
13    Code must be separate from any other annual report filed with
14    the  Comptroller.   The Comptroller must, in cooperation with
15    reporting municipalities, create a format for  the  reporting
16    of  information  described in paragraphs (1.5) and (5) and in
17    subparagraph (G)  of  paragraph  (7)  of  subsection  (d)  of
18    Section   11-74.4-5   of   the   Tax   Increment   Allocation
19    Redevelopment Act and the information described in paragraphs
20    (1.5)  and  (5)  and  in subparagraph (G) of paragraph (7) of
21    subsection (d) of Section 11-74.6-22 of the  Industrial  Jobs
22    Recovery  Law that facilitates consistent reporting among the
23    reporting municipalities. The  Comptroller  may  allow  these
24    reports  to  be  filed  electronically  and  may  display the
25    report, or portions of the  report,  electronically  via  the
26    Internet.   All reports filed under this Section must be made
27    available for examination and copying by the  public  at  all
28    reasonable times.
29    (Source: P.A. 91-478, eff. 11-1-99.)

30        (65 ILCS 5/11-74.6-22)
 
                            -2-                LRB9110178MWgc
 1        Sec.  11-74.6-22.  Adoption  of  ordinance; requirements;
 2    changes.
 3        (a)  Before  adoption  of  an  ordinance  proposing   the
 4    designation   of   a   redevelopment   planning   area  or  a
 5    redevelopment  project  area,  or  both,   or   approving   a
 6    redevelopment plan or redevelopment project, the municipality
 7    or  commission  designated  pursuant  to  subsection  (l)  of
 8    Section  11-74.6-15  shall  fix  by ordinance or resolution a
 9    time and place for public hearing. Prior to the  adoption  of
10    the  ordinance  or resolution establishing the time and place
11    for the public hearing, the municipality shall make available
12    for public inspection a redevelopment plan or a  report  that
13    provides  in sufficient detail, the basis for the eligibility
14    of the redevelopment project area.  The report along with the
15    name of a person to contact for further information shall  be
16    sent to the affected taxing district by certified mail within
17    a  reasonable time following the adoption of the ordinance or
18    resolution establishing the time and  place  for  the  public
19    hearing.
20        At  the  public hearing any interested person or affected
21    taxing district may file with  the  municipal  clerk  written
22    objections  to  the  ordinance and may be heard orally on any
23    issues that are the subject of the hearing.  The municipality
24    shall hear and determine all alternate proposals or bids  for
25    any proposed conveyance, lease, mortgage or other disposition
26    of  land  and  all protests and objections at the hearing and
27    the hearing may be adjourned to another date without  further
28    notice  other  than  a  motion to be entered upon the minutes
29    fixing the time and place of the later hearing. At the public
30    hearing  or  at  any  time  prior  to  the  adoption  by  the
31    municipality of an ordinance approving a redevelopment  plan,
32    the  municipality may make changes in the redevelopment plan.
33    Changes which (1) add additional parcels of property  to  the
34    proposed redevelopment project area, (2) substantially affect
 
                            -3-                LRB9110178MWgc
 1    the  general land uses proposed in the redevelopment plan, or
 2    (3) substantially change the nature of or extend the life  of
 3    the  redevelopment  project  shall  be  made  only  after the
 4    municipality gives notice, convenes a joint review board, and
 5    conducts a public hearing  pursuant  to  the  procedures  set
 6    forth  in  this  Section  and in Section 11-74.6-25.  Changes
 7    which do not (1) add additional parcels of  property  to  the
 8    proposed redevelopment project area, (2) substantially affect
 9    the  general land uses proposed in the redevelopment plan, or
10    (3) substantially change the nature of or extend the life  of
11    the   redevelopment  project  may  be  made  without  further
12    hearing, provided that the municipality shall give notice  of
13    any such changes by mail to each affected taxing district and
14    by  publication  in a newspaper of general circulation within
15    the affected taxing district.  Such notice  by  mail  and  by
16    publication shall each occur not later than 10 days following
17    the adoption by ordinance of such changes.
18        (b)  Before   adoption  of  an  ordinance  proposing  the
19    designation  of  a   redevelopment   planning   area   or   a
20    redevelopment   project   area,  or  both,  or  amending  the
21    boundaries of  an  existing  redevelopment  project  area  or
22    redevelopment  planning area, or both, the municipality shall
23    convene a joint review board to consider the  proposal.   The
24    board  shall  consist  of  a  representative selected by each
25    taxing district that has  authority  to  levy  real  property
26    taxes  on  the  property  within  the  proposed redevelopment
27    project area and that has at least 5% of its total  equalized
28    assessed  value  located  within  the  proposed redevelopment
29    project area, a representative selected by  the  municipality
30    and  a  public  member.   The  public  member and the board's
31    chairperson shall be selected by a majority  of  other  board
32    members.
33        All  board members shall be appointed and the first board
34    meeting held within 14  days  following  the  notice  by  the
 
                            -4-                LRB9110178MWgc
 1    municipality  to  all  the  taxing  districts  as required by
 2    subsection (c) of Section 11-74.6-25.  The notice shall  also
 3    advise  the  taxing  bodies  represented  on the joint review
 4    board of the time and place  of  the  first  meeting  of  the
 5    board.   Additional  meetings of the board shall be held upon
 6    the  call  of  any  2  members.   The  municipality   seeking
 7    designation  of  the  redevelopment  project area may provide
 8    administrative support to the board.
 9        The  board  shall  review  the  public  record,  planning
10    documents and proposed ordinances approving the redevelopment
11    plan and project to be adopted by the municipality.  As  part
12    of  its deliberations, the board may hold additional hearings
13    on the proposal. A board's recommendation, if any, shall be a
14    written recommendation adopted by  a  majority  vote  of  the
15    board  and submitted to the municipality within 30 days after
16    the board convenes. A board's recommendation shall be binding
17    upon the municipality.  Failure of the board  to  submit  its
18    recommendation  on a timely basis shall not be cause to delay
19    the public hearing or the process of establishing or amending
20    the redevelopment project area. The board's recommendation on
21    the proposal shall be based  upon  the  area  satisfying  the
22    applicable eligibility criteria defined in Section 11-74.6-10
23    and  whether  there is a basis for the municipal findings set
24    forth in the redevelopment plan as required by this  Act.  If
25    the board does not file a recommendation it shall be presumed
26    that  the board has found that the redevelopment project area
27    satisfies the eligibility criteria.
28        (c)  After a municipality has  by  ordinance  approved  a
29    redevelopment  plan  and  designated a redevelopment planning
30    area or a redevelopment project area, or both, the  plan  may
31    be  amended  and  additional  properties  may be added to the
32    redevelopment  project  area   only   as   herein   provided.
33    Amendments  which  (1)  add additional parcels of property to
34    the proposed redevelopment project  area,  (2)  substantially
 
                            -5-                LRB9110178MWgc
 1    affect  the  general  land uses proposed in the redevelopment
 2    plan,  (3)   substantially   change   the   nature   of   the
 3    redevelopment  project,  (4)  increase  the  total  estimated
 4    redevelopment project costs set out in the redevelopment plan
 5    by  more than 5% after adjustment for inflation from the date
 6    the plan was adopted, or  (5)  add  additional  redevelopment
 7    project  costs  to the itemized list of redevelopment project
 8    costs set out in the redevelopment plan shall  be  made  only
 9    after  the municipality gives notice, convenes a joint review
10    board,  and  conducts  a  public  hearing  pursuant  to   the
11    procedures   set   forth  in  this  Section  and  in  Section
12    11-74.6-25.  Changes which do not (1) add additional  parcels
13    of  property  to the proposed redevelopment project area, (2)
14    substantially affect the general land uses  proposed  in  the
15    redevelopment  plan,  (3)  substantially change the nature of
16    the redevelopment project, (4) increase the  total  estimated
17    redevelopment  project cost set out in the redevelopment plan
18    by more than 5% after adjustment for inflation from the  date
19    the  plan  was  adopted,  or (5) add additional redevelopment
20    project costs to the itemized list of  redevelopment  project
21    costs   set out in the redevelopment plan may be made without
22    further hearing, provided that the  municipality  shall  give
23    notice  of  any  such changes by mail to each affected taxing
24    district  and  by  publication  in  a  newspaper  of  general
25    circulation within the affected taxing district.  Such notice
26    by mail and by publication shall each occur not later than 10
27    days following the adoption by ordinance of such changes.
28        (d)  After the effective date of this amendatory  Act  of
29    the  91st  General  Assembly, a municipality shall submit the
30    following information for each redevelopment project area (i)
31    to  the  State  Comptroller  under  Section  8-8-3.5  of  the
32    Illinois Municipal Code  in  the  financial  report  required
33    under  Section  3  of  the Governmental Account Audit Act and
34    (ii) to all taxing districts  overlapping  the  redevelopment
 
                            -6-                LRB9110178MWgc
 1    project  area  no later than 180 days after the close of each
 2    municipal fiscal year or as soon thereafter  as  the  audited
 3    financial statements become available and, in any case, shall
 4    be  submitted  before  the annual meeting of the joint review
 5    board to each  of  the  taxing  districts  that  overlap  the
 6    redevelopment project area:
 7             (1)  Any  amendments  to  the redevelopment plan, or
 8        the redevelopment project area.
 9             (1.5)  A list of  the  redevelopment  project  areas
10        administered  by the municipality and, if applicable, the
11        date each redevelopment project area  was  designated  or
12        terminated by the municipality.
13             (2)  Audited financial statements of the special tax
14        allocation  fund  once  a cumulative total of $100,000 of
15        tax increment revenues has been deposited in the fund.
16             (3)  Certification of the Chief Executive Officer of
17        the municipality that the municipality has complied  with
18        all  of the requirements of this Act during the preceding
19        fiscal year.
20             (4)  An  opinion   of   legal   counsel   that   the
21        municipality is in compliance with this Act.
22             (5)  An  analysis of the special tax allocation fund
23        which sets forth:
24                  (A)  the balance in the special tax  allocation
25             fund at the beginning of the fiscal year;
26                  (B)  all  amounts  deposited in the special tax
27             allocation fund by source;
28                  (C)  an itemized list of all expenditures  from
29             the  special  tax  allocation  fund  by  category of
30             permissible redevelopment project cost; and
31                  (D)  the balance in the special tax  allocation
32             fund  at  the  end  of  the  fiscal year including a
33             breakdown of that balance by source and a  breakdown
34             of  that  balance  identifying  any  portion  of the
 
                            -7-                LRB9110178MWgc
 1             balance that is  required,  pledged,  earmarked,  or
 2             otherwise  designated  for payment of or securing of
 3             obligations and  anticipated  redevelopment  project
 4             costs.  Any  portion of such ending balance that has
 5             not been identified or is not  identified  as  being
 6             required,    pledged,    earmarked,   or   otherwise
 7             designated for payment of or securing of obligations
 8             or anticipated redevelopment project costs shall  be
 9             designated  as  surplus  as  set  forth  in  Section
10             11-74.6-30 hereof.
11             (6)  A  description of all property purchased by the
12        municipality  within  the  redevelopment   project   area
13        including:
14                  (A)  Street address.
15                  (B)  Approximate   size   or   description   of
16             property.
17                  (C)  Purchase price.
18                  (D)  Seller of property.
19             (7)  A   statement   setting  forth  all  activities
20        undertaken  in  furtherance  of  the  objectives  of  the
21        redevelopment plan, including:
22                  (A)  Any project implemented in  the  preceding
23             fiscal year.
24                  (B)  A   description   of   the   redevelopment
25             activities undertaken.
26                  (C)  A  description  of  any agreements entered
27             into  by  the  municipality  with  regard   to   the
28             disposition  or redevelopment of any property within
29             the redevelopment project area.
30                  (D)  Additional information on the use  of  all
31             funds  received  under this Division and steps taken
32             by the municipality to achieve the objectives of the
33             redevelopment plan.
34                  (E)  Information regarding contracts  that  the
 
                            -8-                LRB9110178MWgc
 1             municipality's tax increment advisors or consultants
 2             have entered into with entities or persons that have
 3             received, or are receiving, payments financed by tax
 4             increment    revenues    produced    by   the   same
 5             redevelopment project area.
 6                  (F)  Any reports submitted to the  municipality
 7             by the joint review board.
 8                  (G)  A  review  of  public  and,  to the extent
 9             possible, private investment actually undertaken  to
10             date after the effective date of this amendatory Act
11             of  the  91st  General  Assembly and estimated to be
12             undertaken during the following year.   This  review
13             shall,  on a project-by-project basis, set forth the
14             estimated amounts of public and  private  investment
15             incurred after the effective date of this amendatory
16             Act  of  the  91st  General Assembly and provide the
17             ratio of private investment to public investment  to
18             the  date  of  the  report  and  as estimated to the
19             completion of the redevelopment project.
20             (8)  With regard to any obligations  issued  by  the
21        municipality:
22                  (A)  copies of any official statements; and
23                  (B)  an  analysis prepared by financial advisor
24             or underwriter setting forth: (i) nature and term of
25             obligation;  and   (ii)   projected   debt   service
26             including required reserves and debt coverage.
27             (9)  For  special  tax  allocation  funds  that have
28        received cumulative deposits of incremental tax  revenues
29        of  $100,000  or more, a certified audit report reviewing
30        compliance with this  Act  performed  by  an  independent
31        public accountant certified and licensed by the authority
32        of  the  State of Illinois.  The financial portion of the
33        audit must be conducted in accordance with Standards  for
34        Audits    of    Governmental   Organizations,   Programs,
 
                            -9-                LRB9110178MWgc
 1        Activities, and  Functions  adopted  by  the  Comptroller
 2        General  of  the  United  States (1981), as amended.  The
 3        audit report shall contain a letter from the  independent
 4        certified  public  accountant  indicating  compliance  or
 5        noncompliance  with the requirements of subsection (o) of
 6        Section 11-74.6-10.
 7        (e)  The joint review board shall meet annually 180  days
 8    after  the  close  of the municipal fiscal year or as soon as
 9    the redevelopment project audit for that fiscal year  becomes
10    available  to  review  the  effectiveness  and  status of the
11    redevelopment project area up to that date.
12    (Source: P.A. 91-474, eff. 11-1-99.)

13        Section 99.  Effective date.  This Act takes effect  upon
14    becoming law.

[ Top ]