Full Text of SB0540 97th General Assembly
SB0540sam001 97TH GENERAL ASSEMBLY | Sen. Dan Kotowski Filed: 3/11/2011
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| 1 | | AMENDMENT TO SENATE BILL 540
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 540 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The State Comptroller Act is amended by adding | 5 | | Section 30 as follows: | 6 | | (15 ILCS 405/30 new) | 7 | | Sec. 30. Tax Increment Finance administrator training. The | 8 | | Comptroller, in consultation with the State Comptroller Local | 9 | | Government Advisory Board, shall establish and conduct a | 10 | | training and certification program for Tax Increment Finance | 11 | | administrators. The Comptroller shall issue a certificate to | 12 | | each administrator who satisfactorily completes the training | 13 | | program. In the case of any administrator who fails to | 14 | | satisfactorily complete the training program, the Comptroller | 15 | | shall so notify the Mayor or other elected official in the | 16 | | municipality in which that administrator is employed. The |
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| 1 | | Comptroller shall reimburse administrators for their | 2 | | reasonable expenses incurred in completing the training | 3 | | program subject to moneys appropriated to the Comptroller for | 4 | | that purpose. | 5 | | Section 10. The Illinois Municipal Code is amended by | 6 | | changing Sections 8-8-3, 8-8-3.5, and 11-74.6-22 as follows: | 7 | | (65 ILCS 5/8-8-3) (from Ch. 24, par. 8-8-3) | 8 | | Sec. 8-8-3. Audit requirements. | 9 | | (a) The corporate authorities of each municipality coming | 10 | | under the
provisions of this Division 8 shall cause an audit of | 11 | | the funds and
accounts of the municipality to be made by an | 12 | | accountant or accountants
employed by such municipality or by | 13 | | an accountant or accountants retained
by the Comptroller, as | 14 | | hereinafter provided. | 15 | | (b) The accounts and funds of each municipality having a | 16 | | population of 800
or more or having a bonded debt or owning or | 17 | | operating any type of public
utility shall be audited annually. | 18 | | The audit herein required shall include
all of the accounts and | 19 | | funds of the municipality. Such audit shall be
begun as soon as | 20 | | possible after the close of the fiscal year, and shall be
| 21 | | completed and the report submitted within 6 months after the | 22 | | close of such
fiscal year, unless an extension of time shall be | 23 | | granted by the
Comptroller in writing. The accountant or | 24 | | accountants making the audit
shall submit not less than 2 |
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| 1 | | copies of the audit report to the corporate
authorities of the | 2 | | municipality being audited. Municipalities not operating
| 3 | | utilities may cause audits of the accounts of municipalities to | 4 | | be made
more often than herein provided, by an accountant or | 5 | | accountants. The audit
report of such audit when filed with the | 6 | | Comptroller together with an audit
report covering the | 7 | | remainder of the period for which an audit is required
to be | 8 | | filed hereunder shall satisfy the requirements of this section. | 9 | | (c) Municipalities of less than 800 population which do not | 10 | | own or operate
public utilities and do not have bonded debt, | 11 | | shall file annually with the
Comptroller a financial report | 12 | | containing information required by the
Comptroller. Such | 13 | | annual financial report shall be on forms devised by the
| 14 | | Comptroller in such manner as to not require professional | 15 | | accounting
services for its preparation. | 16 | | (d) In addition to any audit report required, all | 17 | | municipalities, except
municipalities of less than 800 | 18 | | population which do not own or operate
public utilities and do | 19 | | not have bonded debt, shall file annually with the
Comptroller | 20 | | a supplemental report on forms devised and approved by the
| 21 | | Comptroller. | 22 | | (e) Notwithstanding any provision of law to the contrary, | 23 | | if a municipality (i) has a population of less than 200, (ii) | 24 | | has bonded debt in the amount of $50,000 or less, and (iii) | 25 | | owns or operates a public utility, then the municipality shall | 26 | | cause an audit of the funds and accounts of the municipality to |
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| 1 | | be made by an accountant employed by the municipality or | 2 | | retained by the Comptroller for fiscal year 2011 and every | 3 | | fourth fiscal year thereafter or until the municipality has a | 4 | | population of 200 or more, has bonded debt in excess of | 5 | | $50,000, or no longer owns or operates a public utility. | 6 | | Nothing in this subsection shall be construed as limiting the | 7 | | municipality's duty to file an annual financial report with the | 8 | | Comptroller or to comply with the filing requirements | 9 | | concerning the county clerk. | 10 | | (f) On and after the effective date of this amendatory Act | 11 | | of the 97th General Assembly, the State Comptroller must post | 12 | | on the State Comptroller's official website the information | 13 | | submitted by a municipality pursuant to subsections (b) and (c) | 14 | | of this Section. The information must be posted no later than | 15 | | 45 days after the State Comptroller receives the information | 16 | | from the municipality. The State Comptroller must also post a | 17 | | list of municipalities that are not in compliance with the | 18 | | reporting requirements set forth in subsections (b) and (c) of | 19 | | this Section. | 20 | | (g) The State Comptroller has the authority to grant | 21 | | extensions for delinquent audit reports. The Comptroller may | 22 | | charge a municipality a fee for a delinquent audit of $5 per | 23 | | day for the first 15 days past due, $10 per day for 16 through | 24 | | 30 days past due, $15 per day for 31 through 45 days past due, | 25 | | and $20 per day for the 46th day and every day thereafter. | 26 | | (Source: P.A. 96-1309, eff. 7-27-10.)
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| 1 | | (65 ILCS 5/8-8-3.5)
| 2 | | Sec. 8-8-3.5. Tax Increment Financing Report. The reports | 3 | | filed under
subsection (d) of Section 11-74.4-5 of the Tax | 4 | | Increment Allocation
Redevelopment Act and the reports filed | 5 | | under subsection (d) of Section
11-74.6-22 of the Industrial | 6 | | Jobs Recovery Law
in the Illinois Municipal Code must be | 7 | | separate from any
other annual report filed with the | 8 | | Comptroller. The Comptroller must, in
cooperation with | 9 | | reporting municipalities, create
a format for the reporting of | 10 | | information described in paragraphs (1.5)
and (5) and
in | 11 | | subparagraph (G) of paragraph (7) of subsection (d) of Section
| 12 | | 11-74.4-5 of
the Tax Increment Allocation Redevelopment Act
and | 13 | | the information described in paragraphs (1.5) and (5) and in | 14 | | subparagraph
(G) of paragraph (7) of subsection (d) of Section | 15 | | 11-74.6-22 of the Industrial
Jobs Recovery Law
that facilitates | 16 | | consistent
reporting among the reporting municipalities. The | 17 | | Comptroller may allow these
reports to be filed electronically | 18 | | and may display the report, or portions of
the report, | 19 | | electronically via the Internet. All reports filed under this
| 20 | | Section must be made available for examination and copying by | 21 | | the public at all
reasonable times. A Tax Increment Financing | 22 | | Report must be filed with the Comptroller within 180 days after | 23 | | the close of the municipal fiscal year or as soon thereafter as | 24 | | the audit for the redevelopment
project area for that fiscal | 25 | | year becomes available. If the Tax Increment Finance |
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| 1 | | administrator provides the Comptroller's office with | 2 | | sufficient evidence that the report is in the process of being | 3 | | completed by an auditor, the Comptroller may grant an | 4 | | extension. If the required report is not filed within
the
time | 5 | | extended by the Comptroller, the Comptroller may charge a | 6 | | municipality a fee of $5 per day for the first 15 days past | 7 | | due, $10 per day for 16 through 30 days past due, $15 per day | 8 | | for 31 through 45 days past due, and $20 per day for the 46th | 9 | | day and every day thereafter.
| 10 | | (Source: P.A. 91-478, eff. 11-1-99; 91-900, eff. 7-6-00.)
| 11 | | (65 ILCS 5/11-74.6-22)
| 12 | | Sec. 11-74.6-22. Adoption of ordinance; requirements; | 13 | | changes.
| 14 | | (a) Before adoption of an ordinance proposing the
| 15 | | designation of a redevelopment planning area or a redevelopment | 16 | | project area,
or both, or approving a
redevelopment plan or | 17 | | redevelopment project, the municipality or commission
| 18 | | designated pursuant to subsection (l) of Section 11-74.6-15 | 19 | | shall fix by
ordinance or resolution
a time and place for | 20 | | public hearing.
Prior to the adoption of the ordinance or | 21 | | resolution establishing the time and
place for the public | 22 | | hearing, the municipality shall make available for public
| 23 | | inspection a redevelopment plan or a report that provides in | 24 | | sufficient detail,
the basis for the eligibility of the
| 25 | | redevelopment project area. The report
along with the name of a
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| 1 | | person to contact for further information shall be sent to the | 2 | | affected taxing
district by certified mail within a reasonable | 3 | | time following the adoption of
the ordinance or resolution | 4 | | establishing the time and place for the public
hearing.
| 5 | | At the public hearing any
interested person or affected | 6 | | taxing district may file with the
municipal clerk written | 7 | | objections to the ordinance and may be heard orally
on any | 8 | | issues that are the subject of the hearing. The municipality | 9 | | shall
hear and determine all alternate proposals or bids for | 10 | | any proposed conveyance,
lease, mortgage or other disposition | 11 | | of land and all protests and objections at
the hearing and the
| 12 | | hearing may be adjourned to another date without further notice | 13 | | other than
a motion to be entered upon the minutes fixing the | 14 | | time and place of the
later hearing.
At the public hearing or | 15 | | at any time prior to the adoption by the
municipality of an | 16 | | ordinance approving a redevelopment plan, the
municipality may | 17 | | make changes in the redevelopment plan. Changes
which (1) add | 18 | | additional parcels of property to the proposed redevelopment
| 19 | | project
area, (2) substantially affect the general land uses | 20 | | proposed in the
redevelopment plan, or (3) substantially change | 21 | | the nature of or extend the
life of the redevelopment
project | 22 | | shall be made only after the
municipality gives notice, | 23 | | convenes a joint review board, and conducts a public
hearing | 24 | | pursuant to the procedures set forth in this Section and in | 25 | | Section
11-74.6-25. Changes which do not (1) add additional | 26 | | parcels of
property to the proposed redevelopment project area, |
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| 1 | | (2) substantially affect
the general land uses proposed in the | 2 | | redevelopment plan, or (3) substantially
change the nature of | 3 | | or extend the life of the redevelopment project may be
made | 4 | | without further hearing, provided that the municipality shall | 5 | | give notice
of any such changes by mail to each affected taxing | 6 | | district and by publication
in a newspaper of general | 7 | | circulation within the affected taxing district.
Such notice by | 8 | | mail and by publication shall each occur not later than 10 days
| 9 | | following the adoption by ordinance of such changes.
| 10 | | (b) Before adoption of an ordinance proposing the | 11 | | designation of a
redevelopment planning area or a redevelopment | 12 | | project area, or both, or
amending the boundaries of an | 13 | | existing
redevelopment project area or redevelopment planning | 14 | | area, or both, the
municipality shall convene a joint review
| 15 | | board to consider the proposal. The board shall consist of a
| 16 | | representative selected by each taxing district that has
| 17 | | authority to levy real property taxes on the property within | 18 | | the proposed
redevelopment project area and that has at least | 19 | | 5% of its total equalized
assessed value located within the | 20 | | proposed redevelopment project area, a
representative selected | 21 | | by the municipality
and a public member. The public member and | 22 | | the board's chairperson shall
be selected by a majority of | 23 | | other board members.
| 24 | | All board members shall be appointed and the first board | 25 | | meeting held
within 14 days following the notice by the | 26 | | municipality to all the taxing
districts as required by |
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| 1 | | subsection (c) of Section 11-74.6-25. The notice
shall also | 2 | | advise the taxing bodies represented on the joint review board
| 3 | | of the time and place of the first meeting of the board. | 4 | | Additional
meetings of the board shall be held upon the call of | 5 | | any 2 members. The
municipality seeking designation of the | 6 | | redevelopment project area may provide
administrative support | 7 | | to the board.
| 8 | | The board shall review the public record, planning | 9 | | documents and
proposed ordinances approving the redevelopment | 10 | | plan and project to be
adopted by the municipality. As part of | 11 | | its deliberations, the board may
hold additional hearings on | 12 | | the proposal. A board's recommendation, if any,
shall be a | 13 | | written recommendation adopted by a
majority vote of the board | 14 | | and submitted to the municipality within 30 days
after the | 15 | | board convenes. A board's recommendation shall be binding upon | 16 | | the
municipality. Failure of the board to submit
its | 17 | | recommendation on a timely basis shall not be cause to delay | 18 | | the public
hearing or the process of establishing or amending | 19 | | the
redevelopment project area. The board's recommendation on | 20 | | the proposal
shall be based upon the area satisfying the | 21 | | applicable eligibility criteria
defined in Section 11-74.6-10 | 22 | | and whether there is a basis for the
municipal findings set | 23 | | forth in the redevelopment plan as required by this
Act. If the | 24 | | board does not file a recommendation it shall be presumed that
| 25 | | the board has found that the redevelopment project area | 26 | | satisfies the
eligibility criteria.
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| 1 | | (c) After a municipality has by ordinance approved a | 2 | | redevelopment plan
and designated a redevelopment planning | 3 | | area or a redevelopment project area,
or both, the plan may be
| 4 | | amended and additional properties may be added to the | 5 | | redevelopment project
area only as herein provided. Amendments
| 6 | | which (1) add additional parcels of property to the proposed | 7 | | redevelopment
project
area, (2) substantially affect the | 8 | | general land uses proposed in the
redevelopment plan, (3) | 9 | | substantially change the nature of the redevelopment
project,
| 10 | | (4) increase the total estimated
redevelopment project costs | 11 | | set out in the redevelopment plan by more than 5%
after | 12 | | adjustment for inflation from the date the plan was adopted, or
| 13 | | (5) add additional redevelopment project costs to the itemized | 14 | | list of
redevelopment project costs set out in the | 15 | | redevelopment plan
shall be made only after the municipality | 16 | | gives notice,
convenes a joint review board, and conducts a | 17 | | public hearing pursuant to the
procedures set forth in this | 18 | | Section and in Section 11-74.6-25.
Changes which do not (1) add | 19 | | additional parcels of property to the proposed
redevelopment | 20 | | project area, (2) substantially affect the general land uses
| 21 | | proposed in the redevelopment plan, (3) substantially change | 22 | | the nature
of the redevelopment project, (4) increase the total | 23 | | estimated redevelopment
project cost set out in the | 24 | | redevelopment plan by more than 5% after adjustment
for | 25 | | inflation from the date the plan was adopted, or (5) add | 26 | | additional
redevelopment project costs to the itemized list of |
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| 1 | | redevelopment project costs
set out in the redevelopment plan
| 2 | | may be made without further hearing, provided that the | 3 | | municipality
shall give notice of any such changes by mail to | 4 | | each affected taxing district
and by publication in a newspaper | 5 | | of general circulation within the affected
taxing district. | 6 | | Such notice by mail and by publication shall each occur not
| 7 | | later than 10 days following the adoption by ordinance of such | 8 | | changes.
| 9 | | (d) After the effective date of this amendatory Act of the | 10 | | 91st General
Assembly, a
municipality shall
submit in an | 11 | | electronic format the following information for each | 12 | | redevelopment project area (i) to
the State Comptroller under | 13 | | Section 8-8-3.5 of the Illinois Municipal Code and (ii) to all | 14 | | taxing districts overlapping
the
redevelopment project area
no | 15 | | later than 180
days after the close of each municipal fiscal | 16 | | year or as soon thereafter as
the audited financial statements | 17 | | become available and, in any case, shall be
submitted before | 18 | | the annual meeting of the joint review board to each of the
| 19 | | taxing districts that overlap the redevelopment project area:
| 20 | | (1) Any amendments to the redevelopment plan, or the | 21 | | redevelopment
project area.
| 22 | | (1.5) A list of the redevelopment project areas | 23 | | administered by the
municipality and, if applicable, the | 24 | | date each redevelopment project area was
designated or | 25 | | terminated by the municipality.
| 26 | | (2) Audited financial statements of the special tax |
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| 1 | | allocation fund once a
cumulative total of $100,000 of tax | 2 | | increment revenues has been deposited in
the fund.
| 3 | | (3) Certification of the Chief Executive Officer of the | 4 | | municipality
that the municipality has complied with all of | 5 | | the requirements of this Act
during the preceding fiscal | 6 | | year.
| 7 | | (4) An opinion of legal counsel that the municipality | 8 | | is in compliance
with this Act.
| 9 | | (5) An analysis of the special tax allocation fund | 10 | | which sets forth:
| 11 | | (A) the balance in the special tax allocation fund | 12 | | at the beginning of
the fiscal year;
| 13 | | (B) all amounts deposited in the special tax | 14 | | allocation fund by source;
| 15 | | (C) an itemized list of all expenditures from the | 16 | | special tax
allocation fund by category of
permissible | 17 | | redevelopment project cost; and
| 18 | | (D) the balance in the special tax allocation fund | 19 | | at the end of the
fiscal year including a breakdown of | 20 | | that balance by source and a breakdown
of that balance | 21 | | identifying any portion of the balance that is | 22 | | required,
pledged, earmarked, or otherwise designated | 23 | | for payment of or securing of
obligations and | 24 | | anticipated redevelopment project costs. Any portion | 25 | | of
such ending
balance that has not been identified or | 26 | | is not identified as being required,
pledged, |
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| 1 | | earmarked, or otherwise designated for payment of or | 2 | | securing of
obligations or anticipated redevelopment | 3 | | project costs shall be designated as
surplus as set | 4 | | forth in Section
11-74.6-30 hereof.
| 5 | | (6) A description of all property purchased by the | 6 | | municipality within
the redevelopment project area | 7 | | including:
| 8 | | (A) Street address.
| 9 | | (B) Approximate size or description of property.
| 10 | | (C) Purchase price.
| 11 | | (D) Seller of property.
| 12 | | (7) A statement setting forth all activities | 13 | | undertaken in furtherance
of the objectives of the | 14 | | redevelopment plan, including:
| 15 | | (A) Any project implemented in the preceding | 16 | | fiscal year.
| 17 | | (B) A description of the redevelopment activities | 18 | | undertaken.
| 19 | | (C) A description of any agreements entered into by | 20 | | the municipality
with regard to the disposition or | 21 | | redevelopment of any property within the
redevelopment | 22 | | project area.
| 23 | | (D) Additional information on the use of all funds | 24 | | received under this
Division and steps taken by the
| 25 | | municipality to achieve the objectives of the | 26 | | redevelopment plan.
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| 1 | | (E) Information regarding contracts that the | 2 | | municipality's tax
increment advisors or consultants | 3 | | have entered into with entities or persons
that have | 4 | | received, or are receiving, payments financed by tax | 5 | | increment
revenues produced
by the same redevelopment | 6 | | project area.
| 7 | | (F) Any reports submitted to the municipality by | 8 | | the joint review
board.
| 9 | | (G) A review of public and, to the extent possible, | 10 | | private investment
actually undertaken to date after | 11 | | the effective date of this amendatory Act of
the 91st | 12 | | General Assembly and estimated to be undertaken during | 13 | | the following
year. This review
shall, on a | 14 | | project-by-project basis, set forth the estimated | 15 | | amounts of public
and private investment incurred | 16 | | after the effective date of this amendatory Act
of the | 17 | | 91st General Assembly
and provide the ratio of private | 18 | | investment to public investment to the date of
the | 19 | | report and as estimated to the completion of the | 20 | | redevelopment project.
| 21 | | (8) With regard to any obligations issued by the | 22 | | municipality:
| 23 | | (A) copies of any official statements; and
| 24 | | (B) an analysis prepared by financial advisor or | 25 | | underwriter setting
forth: (i) nature and term of | 26 | | obligation; and (ii) projected debt service
including |
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| 1 | | required reserves and debt coverage.
| 2 | | (9) For special tax allocation funds that have received | 3 | | cumulative
deposits of incremental tax revenues of | 4 | | $100,000 or more, a certified audit
report reviewing | 5 | | compliance with
this Act
performed by an independent public | 6 | | accountant certified and licensed by the
authority of the | 7 | | State of Illinois. The financial portion of the audit
must | 8 | | be conducted in accordance with Standards for Audits of | 9 | | Governmental
Organizations, Programs, Activities, and | 10 | | Functions adopted by the
Comptroller General of the United | 11 | | States (1981), as amended, or the standards
specified
by | 12 | | Section 8-8-5 of the Illinois Municipal Auditing Law of the | 13 | | Illinois
Municipal Code. The audit
report shall contain a | 14 | | letter from the independent certified public accountant
| 15 | | indicating compliance or noncompliance with the | 16 | | requirements
of subsection (o) of Section 11-74.6-10.
| 17 | | (10) A list of all intergovernmental agreements in | 18 | | effect during the fiscal year to which the municipality is | 19 | | a party and an accounting of any moneys transferred or | 20 | | received by the municipality during that fiscal year | 21 | | pursuant to those intergovernmental agreements. | 22 | | (e) The joint review board shall meet annually 180 days
| 23 | | after the close of the municipal fiscal year or as soon as the | 24 | | redevelopment
project audit for that fiscal year becomes | 25 | | available to review the
effectiveness and status of the | 26 | | redevelopment project area up to that date.
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| 1 | | (f) On and after the effective date of this amendatory Act
| 2 | | of the 97th General Assembly, the State Comptroller must post
| 3 | | on the State Comptroller's official website the information
| 4 | | submitted by a municipality pursuant to subsection (d) of this
| 5 | | Section. The information must be posted no later than 45 days
| 6 | | after the State Comptroller receives the information from the
| 7 | | municipality. The State Comptroller must also post a list of
| 8 | | the municipalities not in compliance with the reporting
| 9 | | requirements set forth in subsection (d) of this Section. | 10 | | (Source: P.A. 91-474, eff. 11-1-99; 91-900, eff. 7-6-00.)
| 11 | | Section 99. Effective date. This Act takes effect upon | 12 | | becoming law.".
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