August 19, 2008

To the Honorable Members of the

Illinois House of Representatives

95th General Assembly

            Pursuant to Article IV, Section 9(b) of the Illinois Constitution of 1970, I hereby veto House Bill 4548, entitled “AN ACT concerning local government.”  I appreciate the hard work of the sponsors and share their support for local economic development. However, resources from tax increment finance districts are not intended to be inexhaustible. If the TIF has achieved the objectives established at the time of creation, it should sunset and the property taxes that would otherwise be captured by the TIF should revert to their original use.   

            For this reason, I hereby veto and return House Bill 4548.

Sincerely,

ROD R. BLAGOJEVICH

Governor