101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4386
 
Introduced 1/29/2020, by Rep. William Davis
 
SYNOPSIS AS INTRODUCED:
 

 
20 ILCS 607/3-20
20 ILCS 607/3-25

     Amends the Brownfields Redevelopment and Intermodal Promotion Act. Provides that moneys in the South Suburban Brownfields Redevelopment Fund shall be held to fund eligible projects through fiscal year 2031 (currently 2021). Provides that the life span of the South Suburban Brownfields Redevelopment Fund may be extended past 2036 (currently, 2026). Provides that the total amount of tax increment to be transferred to the South Suburban Brownfields Redevelopment Fund may not exceed $4,000,000 in any fiscal year (currently, $3,000,000). 
  


LRB101 17475 HLH 66885 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB4386LRB101 17475 HLH 66885 b


  
1    AN ACT concerning State government.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Brownfields Redevelopment and Intermodal 
5Promotion Act is amended  by changing Sections 3-20 and 3-25 as 
6follows:
 
7    (20 ILCS 607/3-20)

8    Sec. 3-20. South Suburban Brownfields Redevelopment Fund; 
9eligible projects. In State fiscal years 2015 through 2031 
102021, all moneys in the South Suburban Brownfields 
11Redevelopment Fund shall be held solely to fund eligible 
12projects undertaken pursuant to the provisions of Section 3-35 
13of this Act and performed either directly by Cook County 
14through a development agreement with the Department, by an 
15entity designated by Cook County through a development 
16agreement with the Department to perform specific tasks, or by 
17an Eligible Developer or an Eligible Employer through a 
18development agreement. All Eligible Projects are subject to 
19review and approval by the Managing Partner and by the 
20Department.   The life span of the Fund may be extended past 2036 
212026 by law.

22(Source: P.A. 101-275, eff. 8-9-19.)
 
 
 
HB4386- 2 -LRB101 17475 HLH 66885 b

1    (20 ILCS 607/3-25)

2    Sec. 3-25. Limitation on amounts for eligible projects. 

3The total amount of tax increment to be transferred to the 
4South Suburban Brownfields Redevelopment Fund shall not exceed 
5$4,000,000 $3,000,000 in each State fiscal year. Any increment 
6generated in a given State fiscal year in excess of $3,000,000 
7shall be retained by the State. Any revenues in the South 
8Suburban Brownfields Redevelopment Fund not used in a given 
9fiscal year may be rolled over into subsequent fiscal years. 
10Use of the Fund to pay or reimburse eligible expenses shall not 
11preclude the receipt of benefits from any Enterprise Zone, Tax 
12Increment Finance District, property tax abatement program, or 
13other business development program of a federal, State, or 
14local economic development program that may be available to the 
15project, and any brownfield site included in an agreement with 
16an eligible developer or eligible employer shall remain fully 
17eligible for all State and Federal tax incentives and grants 
18specifically related to brownfield remediation.


19(Source: P.A. 100-774, eff. 8-10-18.)