92nd General Assembly
Summary of HB0760
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House Sponsors:
LEITCH-SCOTT-SCULLY-MOFFITT AND YOUNGE.

Senate Sponsors:
RADOGNO-HAWKINSON-CLAYBORNE

Short description: 
MUNICIPAL CODE-TIF HEARINGS                                                

Synopsis of Bill as introduced:
        Amends the Illinois Municipal Code.  Requires developers entering      
   into economic incentive agreements for redevelopment to  meet  certain      
   criteria   concerning   creditworthiness.  Amends  the  Tax  Increment      
   Allocation Redevelopment Act in the Illinois Municipal Code.  Provides      
   that the maturity date for tax increment financing obligations may not      
   exceed  35  years  if  the  municipality is subject to the Financially      
   Distressed City Law.  Provides that if the redevelopment plan will not      
   result in displacement of 10 or more (now, no lower  limit)  residents      
   from inhabited units, a housing impact study need not be performed. In      
   language providing that the municipality shall "hear and determine all      
   protests  and  objections  at  the hearing" concerning a redevelopment      
   plan or project or the designation of a  redevelopment  project  area,      
   provides  that  "determine"  means the municipality shall consider all      
   protests and objections and shall, by virtue of its final adoption  or      
   lack  of  adoption  of an ordinance, have reached conclusions that are      
   determinate prima facie.  In provisions authorizing  the  municipality      
   30 days to resubmit its plan or amendment after rejection by the joint      
   review  board,  provides  that  notwithstanding  the resubmission, the      
   municipality may commence the  scheduled  public  hearing  and  either      
   adjourn the public hearing or continue the public hearing until a date      
   certain,  that  any  amendments to the redevelopment plan shall be the      
   subject of a public hearing before the  hearing  is  adjourned  if  so      
   determined  by  the  municipality,  and  that  no  amendments  to  the      
   redevelopment  plan shall require any further notice or convening of a      
   joint review board meeting.  Makes other changes.                           
        HOUSE AMENDMENT NO. 4.                                                 
          Deletes reference to:                                                
          65 ILCS 5/8-11-20                                                    
          65 ILCS 5/11-74.4-3                                                  
          65 ILCS 5/11-74.4-4.1                                                
          65 ILCS 5/11-74.4-5                                                  
          65 ILCS 5/11-74.4-7                                                  
          Adds reference to:                                                   
          65 ILCS 5/11-74.4-1             from Ch. 24, par. 11-74.4-1          
        Deletes everything after the enacting  clause.   Amends  the  Tax      
   Increment Allocation Redevelopment Act in the Illinois Municipal Code.      
   Makes a technical change in the Section concerning how the Act may  be      
   cited.                                                                      
        HOUSE AMENDMENT NO. 5.                                                 
          Adds reference to:                                                   
          65 ILCS 5/8-11-20                                                    
          65 ILCS 5/11-74.4-3                                                  
          65 ILCS 5/11-74.4-4.1                                                
          65 ILCS 5/11-74.4-5                                                  
          65 ILCS 5/11-74.4-7                                                  
          65 ILCS 5/11-74.4-8a            from Ch. 24, par. 11-74.4-8a         
        Deletes everything.  Reinserts the bill as introduced  but  makes      
   the following changes.  Provides that the municipality shall "hear all      
   protests  and  objections at the hearing" (now, hear and determine all      
   protests and objections) and removes  amendatory  provisions  defining      
   the   term   "determine";  adds  a  provision  to  the  definition  of      
   "redevelopment plan"; expands the persons who must receive  notice  of      
   the availability of the redevelopment plan and eligibility report; and      
   requires a hearing on changes to the redevelopment plan if the changes      
   meet  certain  criteria.   Further amends the Tax Increment Allocation      
   Redevelopment Act in the Illinois Municipal Code.  Provides  that  the      
   redevelopment  project  must  be  completed by December 31 of the 35th      
   year (now, the 23rd year) after the year in which  the  ordinance  was      
   adopted  in  the  TIF  district  if  the  ordinance was adopted (i) on      
   December 29, 1986 by the City of Galva, (ii) in September 1988 by Sauk      
   Village, (iii) in October 1993 by Sauk Village, or (iv) in March  1991      
   by  the  City of Centreville. Provides that municipalities that issued      
   bonds in connection with a redevelopment project  prior  to  July  29,      
   1991 and municipalities that entered into contracts in connection with      
   a  redevelopment project before June 1, 1988 shall continue to receive      
   their  proportional  share  of  the  Illinois   Tax   Increment   Fund      
   distribution  until  the  date  on  which  the project is completed or      
   terminated.  Provides that if, however,  a  municipality  that  issued      
   bonds  retires the bonds prior to June 30, 2007 or a municipality that      
   entered into contracts completes the contracts prior to June 30, 2007,      
   and the redevelopment project is not completed or terminated, then the      
   Net State Sales Tax Increment shall be calculated,  beginning  on  the      
   date on which the bonds are retired or the contracts are completed, by      
   a  gradually  decreasing  percentage  in  the  State Fiscal Years 2002      
   through 2007. Provides that a municipality that was authorized to  and      
   has  extended  the  estimated dates of completion of the redevelopment      
   project and retirement of obligations to finance redevelopment project      
   costs by municipal ordinance to December 31, 2013  shall  continue  to      
   receive  from  the State a share of the Illinois Tax Increment Fund so      
   long as the municipality deposits an amount  equal  to  the  municipal      
   share of the real property tax increment revenues into the special tax      
   allocation fund during the extension period.  Effective immediately.        
 
Last action on Bill: PUBLIC ACT.............................. 92-0263

   Last action date: AUG-07-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   0


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