Sen. Terry Link

Filed: 3/11/2010

 

 


 

 


 
09600SB3152sam001 LRB096 19983 RLJ 38733 a

1
AMENDMENT TO SENATE BILL 3152

2     AMENDMENT NO. ______. Amend Senate Bill 3152 on page 1,
3 immediately below line 3, by inserting the following:
 
4     "Section 3. The County Economic Development Project Area
5 Tax Increment Allocation Act of 1991 is amended by adding
6 Sections 72 and 74 as follows:
 
7     (55 ILCS 90/72 new)
8     Sec. 72. Status report; hearing. No later than 10 years
9 after the corporate authorities of a county adopt an ordinance
10 to establish an economic development project area, the county
11 must compile a status report concerning the economic
12 development project area. The status report must detail without
13 limitation the following: (i) the amount of revenue generated
14 within the economic development project area, (ii) any
15 expenditures made by the county for the economic development
16 project area including without limitation expenditures from

 

 

09600SB3152sam001 - 2 - LRB096 19983 RLJ 38733 a

1 the special tax allocation fund, (iii) the status of planned
2 activities, goals, and objectives set forth in the economic
3 development plan including details on new or planned
4 construction within the economic development project area,
5 (iv) the amount of private and public investment within the
6 economic development project area, and (v) any other relevant
7 evaluation or performance data. Within 30 days after the county
8 compiles the status report, the county must hold at least one
9 public hearing concerning the report. The county must provide
10 20 days' public notice of the hearing.
 
11     (55 ILCS 90/74 new)
12     Sec. 74. Requirements for annual budget. Beginning in
13 fiscal year 2011 and in each fiscal year thereafter, a county
14 must detail in its annual budget (i) the amount of revenue
15 generated from economic development project areas by source and
16 (ii) the expenditures made by the county for economic
17 development project areas."; and
 
18 on page 12, line 17, after "submit", by inserting "in an
19 electronic format"; and
 
20 on page 18, immediately below line 18, by inserting the
21 following:
22     "(h) On and after the effective date of this amendatory Act
23 of the 96th General Assembly, the State Comptroller must post

 

 

09600SB3152sam001 - 3 - LRB096 19983 RLJ 38733 a

1 on the State Comptroller's official website the information
2 submitted by a municipality pursuant to subsection (d) of this
3 Section. The information must be posted no later than 45 days
4 after the State Comptroller receives the information from the
5 municipality. The State Comptroller must also post a list of
6 the municipalities not in compliance with the reporting
7 requirements set forth in subsection (d) of this Section.
8     (i) No later than 10 years after the corporate authorities
9 of a municipality adopt an ordinance to establish a
10 redevelopment project area, the municipality must compile a
11 status report concerning the redevelopment project area. The
12 status report must detail without limitation the following: (i)
13 the amount of revenue generated within the redevelopment
14 project area, (ii) any expenditures made by the municipality
15 for the redevelopment project area including without
16 limitation expenditures from the special tax allocation fund,
17 (iii) the status of planned activities, goals, and objectives
18 set forth in the redevelopment plan including details on new or
19 planned construction within the redevelopment project area,
20 (iv) the amount of private and public investment within the
21 redevelopment project area, and (v) any other relevant
22 evaluation or performance data. Within 30 days after the
23 municipality complies the status report, the municipality must
24 hold at least one public hearing concerning the report. The
25 municipality must provide 20 days' public notice of the
26 hearing.

 

 

09600SB3152sam001 - 4 - LRB096 19983 RLJ 38733 a

1     (j) Beginning in fiscal year 2011 and in each fiscal year
2 thereafter, a municipality must detail in its annual budget (i)
3 the revenues generated from redevelopment project areas by
4 source and (ii) the expenditures made by the municipality for
5 redevelopment project areas.".