Illinois General Assembly - Full Text of SB0421
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Full Text of SB0421  95th General Assembly

SB0421 95TH GENERAL ASSEMBLY


 


 
95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0421

 

Introduced 2/7/2007, by Sen. Randall "Randy" M. Hultgren

 

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 09465 HLH 29663 b

 

 

A BILL FOR

 

SB0421 LRB095 09465 HLH 29663 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

 

 

SB0421 - 2 - LRB095 09465 HLH 29663 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

 

 

SB0421 - 3 - LRB095 09465 HLH 29663 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.)