91st General Assembly
Summary of HB0305
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Short description: 
PROP TX EXTENSION LIMIT LAW                                                

Synopsis of Bill as introduced:
        Amends the Tax Increment  Allocation  Redevelopment  Act  in  the      
   Illinois  Municipal  Code.  Makes technical changes to the short title      
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          65 ILCS 5/11-74.4-1                                                  
          Adds reference to:                                                   
          35 ILCS 200/18-185                                                   
          50 ILCS 310/3                   from Ch. 85, par. 703                
          65 ILCS 5/11-74.4-3             from Ch. 24, par. 11-74.4-3          
          65 ILCS 5/11-74.4-4             from Ch. 24, par. 11-74.4-4          
          65 ILCS 5/11-74.4-4.1                                                
          65 ILCS 5/11-74.4-4.2 new                                            
          65 ILCS 5/11-74.4-5             from Ch. 24, par. 11-74.4-5          
          65 ILCS 5/11-74.4-6             from Ch. 24, par. 11-74.4-6          
          65 ILCS 5/11-74.4-7             from Ch. 24, par. 11-74.4-7          
          65 ILCS 5/11-74.4-7.1                                                
          65 ILCS 5/11-74.4-8             from Ch. 24, par. 11-74.4-8          
          65 ILCS 5/11-74.4-8a            from Ch. 24, par. 11-74.4-8a         
        Amends the Property Tax Extension Limitation Law in the  Property      
   Tax  Code  concerning  the  computation  of  the amount to be extended      
   within a county with 3,000,000 or more inhabitants.  Provides that  in      
   the   first   year  after  a  municipality  removes  property  from  a      
   redevelopment project area "recovered tax increment value"  means  the      
   amount  of  the current year's equalized assessed value of the removed      
   property over and above the initial equalized assessed value  of  that      
   property.   Amends  the  Governmental Account Audit Act and amends the      
   Tax Increment Allocation Redevelopment Act in the  Illinois  Municipal      
   Code.  Requires a municipality to include in its fiscal year financial      
   report to the Comptroller  and  in  its  fiscal  year  report  to  all      
   overlapping  taxing  districts  the redevelopment project areas it has      
   administered, designated,  or  terminated.   Further  amends  the  Tax      
   Increment Allocation Redevelopment Act in the Illinois Municipal Code.      
   Creates  an interested parties registry.  Allows a municipality to use      
   tax increment revenues to pay project costs  that  involve  contiguous      
   property  even  if  the  costs  are  not included in the project plan.      
   Amends the provisions concerning  a  county  with  3,000,000  or  more      
   inhabitants   that   uses   an  estimated  installment  procedure  for      
   collecting the redevelopment area taxes.  Provides that the conditions      
   placed upon municipalities to receive tax  revenue  for  redevelopment      
   project costs are effective only for those payments made by the county      
   on  or  before  December 31, 1999. Provides that the county may send a      
   liability notice and seek a refund for an erroneous overpayment of tax      
   revenue made to the municipal treasurer.   Provides  that  the  refund      
   shall  be  limited  to  the  amount  of  the  overpayment. Makes other      
   changes. Amends the  State  Mandates  Act  to  require  implementation      
   without  reimbursement.    Effective  the first day of the third month      
   after becoming law.                                                         
        HOUSE AMENDMENT NO. 2.                                                 
        Includes as a factor within the  definition  of  "blighted  area"      
   property that has been the subject of tax sales under the Property Tax      
   Code  within  the  last  5  years.   Includes within the definition of      
   "redevelopment project  costs"  day  care  services  for  children  of      
   employees  from  low-income  families  working  for businesses located      
   within the redevelopment project area and all or a portion of the cost      
   of operation of day care centers established by redevelopment  project      
   area   businesses   to  serve  these  employees.  Defines  "low-income      
   families".  Provides that the municipal power to utilize tax increment      
   financing revenues for contiguous areas is  limited  to  redevelopment      
   project areas that are located within a municipality with a population      
   of  more  than  100,000  established before the effective date of this      
   amendatory Act.                                                             
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          50 ILCS 310/3                                                        
          Adds reference to:                                                   
          65 ILCS 5/8-8-3.5 new                                                
        Provides that the information for each redevelopment project area      
   required to be submitted to the Comptroller must be separate from  any      
   other  annual  report  filed  with the Comptroller.  Provides that the      
   Comptroller must, in cooperation with reporting municipalities, create      
   a format for the reporting of certain information. Provides  that  the      
   Comptroller may allow these reports to be filed electronically and may      
   display  the report, or portions of the report, electronically via the      
   Internet.  Provides that  the  reports  must  be  made  available  for      
   examination  and  copying  by  the  public  at  all  reasonable times.      
   Provides that the amendatory provisions do not apply to a municipality      
   that has set a public  hearing  before  the  effective  date  of  this      
   amendatory Act or set a feasibility study before July 1, 1999, but has      
   not approved a redevelopment plan or project. Deletes provisions            
   amending the Governmental Account Audit Act.                                
        SENATE AMENDMENT NO. 2.                                                
        Provides that a property interest acquired in a single parcel  of      
   property  by  a  member of  the corporate authority, which property is      
   used exclusively as the member's primary    residence,  shall  not  be      
   deemed  to  constitute  a prohibited interest in any property included      
   in a redevelopment  area  or  proposed  redevelopment  area  that  was      
   established  before    December 31, 1989, but the member must disclose      
   the acquisition to the municipal clerk.                                     
Last action on Bill: TOTAL VETO STANDS

   Last action date: 99-11-18

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   2


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