95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1372


 
Introduced 2/9/2007, by Sen. James F. Clayborne, Jr.
 
SYNOPSIS AS INTRODUCED:
 		













65 ILCS 5/11-74.3-3
  from Ch. 24, par. 11-74.3-3








    Amends the Illinois Municipal Code. Makes a technical change in a Section
concerning a
business development or redevelopment plan under the Act.
















LRB095 09769 HLH 29978 b

















 


 


A BILL FOR









 











SB1372

LRB095 09769 HLH 29978 b






1
    AN ACT concerning local government.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 


 
4
    Section 5. The Illinois Municipal Code is amended by 
5
changing Section 11-74.3-3 as follows:
 



6
    (65 ILCS 5/11-74.3-3)  (from Ch. 24, par. 11-74.3-3)



7
    Sec. 11-74.3-3. In carrying out a business district 
8
development or redevelopment plan,
the
the corporate 
9
authorities of each municipality shall have the following

10
powers:

11
        (1) To approve all development and redevelopment 
12
    proposals for a
business district.


13
        (2) To exercise the use of eminent domain for the 
14
    acquisition of real
and personal property for the purpose 
15
    of a development or redevelopment
project.


16
        (3) To acquire, manage, convey or otherwise dispose of 
17
    real and personal
property
according to the provisions of a 
18
    development or
redevelopment plan.


19
        (4) To apply for and accept capital grants and loans 
20
    from the United
States and the State of Illinois, or any 
21
    instrumentality of the United
States or the State, for 
22
    business district development and redevelopment.


23
        (5) To borrow funds as it may be deemed necessary for 
 


 






SB1372
- 2 -
LRB095 09769 HLH 29978 b




1
    the purpose of
business district development and 
2
    redevelopment, and in this connection
issue such 
3
    obligation or revenue bonds as it shall be deemed 
4
    necessary,
subject to applicable statutory limitations.


5
        (6) To enter into contracts with any public or private 
6
    agency or person.


7
        (7) To sell, lease, trade or improve real property in 
8
    connection with business district development and 
9
    redevelopment
plans.


10
        (8) To employ all such persons as may be necessary for 
11
    the planning,
administration and implementation of 
12
    business district plans.


13
        (9) To expend such public funds as may be necessary for 
14
    the planning,
execution and implementation of the business 
15
    district plans.


16
        (10) To establish by ordinance or resolution 
17
    procedures for the
planning, execution and implementation 
18
    of business district plans.


19
        (11) To create a Business District Development and 
20
    Redevelopment
Commission to act as agent for the 
21
    municipality for the purposes of
business district 
22
    development and redevelopment.

23
        (12) To impose a retailers' occupation tax and a 
24
    service occupation tax in the business district for the 
25
    planning, execution, and implementation of business 
26
    district plans and to pay for business district project 
 


 






SB1372
- 3 -
LRB095 09769 HLH 29978 b




1
    costs as set forth in the business district plan approved 
2
    by the municipality.
3
        (13) To impose a hotel operators' occupation tax in the 
4
    business district for the planning, execution, and 
5
    implementation of business district plans and to pay for 
6
    the business district project costs as set forth in the 
7
    business district plan approved by the municipality.

8
        (14) To issue obligations in one or more series bearing 
9
    interest at rates determined by the corporate authorities 
10
    of the municipality by ordinance and secured by the 
11
    business district tax allocation fund set forth in Section 
12
    11-74.3-6 for the business district to provide for the 
13
    payment of business district project costs.

14
    This amendatory Act of the 91st General Assembly is 
15
declarative of existing
law and is not a new enactment.

16
(Source: P.A. 93-1053, eff. 1-1-05.)