103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1947
 
Introduced 2/9/2023, by Sen. Robert Peters
 
SYNOPSIS AS INTRODUCED:
 

 
New Act

     Creates the Honesty in Economic Development Act. Provides that an agreement or contract entered into by a governmental unit, or any party negotiating on behalf of the governmental unit, for projects for economic development that includes a tax incentive may not contain any language that provides that the agreement or contract or any of its terms are confidential or that the parties to the agreement or contract are prohibited from disclosing, discussing, describing, or commenting upon the terms of the agreement or contract. Provides that the Act does not supersede any exemption to a public body's obligation to disclose public records set forth in the Freedom of Information Act, except that the Freedom of Information Act exemption that prohibits the disclosure of trade secrets and commercial or financial information furnished under a claim that they are proprietary, privileged, or confidential is not applicable to the identity of any party to an agreement or contract negotiation for a tax incentive or any party with a beneficial interest in that tax incentive. Defines "tax incentive" to include payments in lieu of taxes, tax abatements, or bonds, notes, loans, grants, or rebates for the economic development. Defines "governmental unit".
  


LRB103 27561 AWJ 57153 b

 
 
A BILL FOR
 

  
SB1947LRB103 27561 AWJ 57153 b


  
1    AN ACT concerning government.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 1. Short title.  This Act may be cited as the 
5Honesty in Economic Development Act.
 
6    Section 5. Definitions.  As used in this Act:
7    "Governmental unit" means the State, an agency of the 
8State, a unit of local government, or any other political 
9subdivision of the State.
10    "Tax incentive" includes payments in lieu of taxes, tax 
11abatements, or bonds, notes, loans, grants, or rebates.
 
12    Section 10. Nondisclosure agreements prohibited.  
13Notwithstanding any provision of law to the contrary, an 
14agreement or contract entered into by a governmental unit, or 
15any party negotiating on behalf of the governmental unit, for 
16projects for economic development that includes a tax 
17incentive may not contain any language that provides that the 
18agreement or contract or any of its terms are confidential or 
19that the parties to the agreement or contract are prohibited 
20from disclosing, discussing, describing, or commenting upon 
21the terms of the agreement or contract.
  
 
 
 
SB1947- 2 -LRB103 27561 AWJ 57153 b

1    Section 15. Disclosure of records. This Act does not 
2supersede any exemption to a public body's obligation to 
3disclose public records set forth in the Freedom of 
4Information Act.  However, the disclosure exemption under 
5paragraph (g) of item (1) of Section 7 of the Freedom of 
6Information Act is not applicable to the identity of any party 
7to an agreement or contract negotiation for a tax incentive or 
8any party with a beneficial interest in that tax incentive.