91st General Assembly
Summary of SB1032
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
Senate Sponsors:

House Sponsors:

Short description: 
MUNI CD-TIF REDEVELOPMENT AREA                                             

Synopsis of Bill as introduced:
        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.      
   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, but has not approved a redevelopment plan or  project.      
   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.  Effective 60 days after becoming law.                             
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          30 ILCS 805/8.23 new                                                 
        Deletes everything.  Reinserts the provisions of  the  bill.   In      
   the   definition  of  redevelopment  project  costs,  excludes  school      
   districts with a population of 1,000,000 or more  from  the  component      
   including  the  increased  costs  of  a  school district.  Deletes the      
   provision providing that a  special  service  area  is  not  a  taxing      
   district   under   the  Act.   Deletes  the  provisions  limiting  the      
   application of the amendatory provisions.  Amends the  State  Mandates      
   Act  to  require  implementation  without  reimbursement.  Makes other      
   changes.  Changes the effective date  so  that  the  provisions  take       
   effect on the first day of the third month after becoming law.              
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          50 ILCS 310/3                                                        
        Deletes  everything.   Reinstates  the  provisions  of  the  bill      
   without the changes to the Governmental Account Audit Act.    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.  Provides  that  redevelopment  project      
   costs  include  the  cost of low-income families' day care services in      
   municipalities with a population of more than 100,000. 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.               
        HOUSE AMENDMENT NO. 2.                                                 
          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.              
        HOUSE AMENDMENT NO. 4.                                                 
        Provides that the  maturity  date  for  tax  increment  financing      
   obligations    may    not   exceed   35   years   if   the   ordinance      
   approving   the redevelopment   project  was   adopted   in   December      
   1984  by  the Village of Rosemont.                                          
        HOUSE AMENDMENT NO. 6.                                                 
        Provides that "blighted area" includes a vacant  area  where  the      
   sound  growth  is impaired by a combination of certain factors each of      
   which is reasonably distributed throughout the vacant part to which it      
        HOUSE AMENDMENT NO. 7.                                                 
        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: PUBLIC ACT.............................. 91-0478

   Last action date: 99-08-11

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   5     SENATE -   1


 Full Text  Bill Status