HB2386 98TH GENERAL ASSEMBLY

LRB098 06919 HLH 39703 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB2386

Introduced , by Rep. John E. Bradley

SYNOPSIS AS INTRODUCED:

35 ILCS 200/30-30
65 ILCS 5/8-8-3.5

Amends the Property Tax Code. Provides that school districts and community college districts shall submit a Fiscal Responsibility Report Card to the State Comptroller and the county clerk of each county in which any part of the taxing district is located. Amends the Illinois Municipal Code. Provides that Tax Increment Financing Reports must be filed electronically with the Comptroller within 180 days after the close of the municipal fiscal year or as soon thereafter as the audit for the redevelopment project area for that fiscal year becomes available. Allows the Comptroller to grant extensions. Provides that the Comptroller may charge a municipality a fee if the Tax Increment Financing Report is not filed in a timely manner. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by changing Section 30-30 as follows:

(35 ILCS 200/30-30)

Sec. 30-30. Fiscal Responsibility Report Card. The corporate authorities authority of each taxing district, other than a school district, that imposes ad valorem taxes, including, but not limited to, school districts and community college districts, within 180 days of the conclusion of the fiscal year of the taxing district, shall submit to the State Comptroller and the county clerk of each county in which a part of the taxing district is located a Fiscal Responsibility Report Card in the form prescribed by the State Comptroller after consultation with other State Constitutional officers as the State Comptroller selects. The Fiscal Responsibility Report Card shall inform taxpayers about the amounts, sources, and uses of tax revenues received and expended by the taxing district.

(Source: P.A. 87-782; 87-1002; 88-455; incorporates 88-280; 88-670, eff. 12-2-94.)

Section 10. The Illinois Municipal Code is amended by changing Section 8-8-3.5 as follows:

(65 ILCS 5/8-8-3.5)

Sec. 8-8-3.5. Tax Increment Financing Report. The reports filed under subsection (d) of Section 11-74.4-5 of the Tax Increment Allocation Redevelopment Act and the reports filed under subsection (d) of Section 11-74.6-22 of the Industrial Jobs Recovery Law in the Illinois Municipal Code must be separate from any other annual report filed with the Comptroller. The Comptroller must, in cooperation with reporting municipalities, create a format for the reporting of information described in paragraphs (1.5) and (5) and in subparagraph (G) of paragraph (7) of subsection (d) of Section 11-74.4-5 of the Tax Increment Allocation Redevelopment Act and the information described in paragraphs (1.5) and (5) and in subparagraph (G) of paragraph (7) of subsection (d) of Section 11-74.6-22 of the Industrial Jobs Recovery Law that facilitates consistent reporting among the reporting municipalities. The Comptroller may allow these reports to be filed electronically and may display the report, or portions of the report, electronically via the Internet. All reports filed under this Section must be made available for examination and copying by the public at all reasonable times. A Tax Increment Financing Report must be filed electronically with the Comptroller within 180 days after the close of the municipal fiscal year or as soon thereafter as the audit for the redevelopment project area for that fiscal year becomes available. If the Tax Increment Finance administrator provides the Comptroller's office with sufficient evidence that the report is in the process of being completed by an auditor, the Comptroller may grant an extension. If the required report is not filed within the time extended by the Comptroller, the Comptroller may charge a municipality a fee of $5 per day for the first 15 days past due, $10 per day for 16 through 30 days past due, $15 per day for 31 through 45 days past due, and $20 per day for the 46th day and every day thereafter. All fees collected pursuant to this Section shall be deposited into the Comptroller's Administrative Fund.

(Source: P.A. 91-478, eff. 11-1-99; 91-900, eff. 7-6-00.)

Section 99. Effective date. This Act takes effect upon becoming law.