Senate Sponsors: RADOGNO-DEL VALLE. House Sponsors: LEITCH-SCOTT-MATHIAS-SILVA-WINTERS Short description: MUNI CD-TIF REDEVELOPMENT AREA Synopsis of Bill as introduced: Amends the Property Tax Extension Limitation Law in the Property Tax Code concerning the computation of the amount to be extended within a county with 3,000,000 or more inhabitants. Provides that in the first year after a municipality removes property from a redevelopment project area, "recovered tax increment value" means the amount of the current year's equalized assessed value of the removed property over and above the initial equalized assessed value of that property. Amends the Governmental Account Audit Act and amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Requires a municipality to include in its fiscal year financial report to the Comptroller and in its fiscal year report to all overlapping taxing districts the redevelopment project areas it has administered, designated, or terminated. Further amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the amendatory provisions do not apply to a municipality that has set a public hearing before the effective date of this amendatory Act, but has not approved a redevelopment plan or project. Amends the provisions concerning a county with 3,000,000 or more inhabitants that uses an estimated installment procedure for collecting the redevelopment area taxes. Provides that the conditions placed upon municipalities to receive tax revenue for redevelopment project costs are effective only for those payments made by the county on or before December 31, 1999. Provides that the county may send a liability notice and seek a refund for an erroneous overpayment of tax revenue made to the municipal treasurer. Provides that the refund shall be limited to the amount of the overpayment. Makes other changes. Effective 60 days after becoming law. SENATE AMENDMENT NO. 1. Adds reference to: 30 ILCS 805/8.23 new Deletes everything. Reinserts the provisions of the bill. In the definition of redevelopment project costs, excludes school districts with a population of 1,000,000 or more from the component including the increased costs of a school district. Deletes the provision providing that a special service area is not a taxing district under the Act. Deletes the provisions limiting the application of the amendatory provisions. Amends the State Mandates Act to require implementation without reimbursement. Makes other changes. Changes the effective date so that the provisions take effect on the first day of the third month after becoming law. HOUSE AMENDMENT NO. 1. Deletes reference to: 50 ILCS 310/3 Deletes everything. Reinstates the provisions of the bill without the changes to the Governmental Account Audit Act. Provides that the amendatory provisions do not apply to a municipality that has set a public hearing before the effective date of this amendatory Act or set a feasibility study before July 1, 1999, but has not approved a redevelopment plan or project. Provides that redevelopment project costs include the cost of low-income families' day care services in municipalities with a population of more than 100,000. Includes as a factor within the definition of "blighted area" property that has been the subject of tax sales under the Property Tax Code within the last 5 years. Includes within the definition of "redevelopment project costs" day care services for children of employees from low-income families working for businesses located within the redevelopment project area and all or a portion of the cost of operation of day care centers established by redevelopment project area businesses to serve these employees. Defines "low-income families". Provides that the municipal power to utilize tax increment financing revenues for contiguous areas is limited to redevelopment project areas that are located within a municipality with a population of more than 100,000 established before the effective date of this amendatory Act. HOUSE AMENDMENT NO. 2. Adds reference to: 65 ILCS 5/8-8-3.5 new Provides that the information for each redevelopment project area required to be submitted to the Comptroller must be separate from any other annual report filed with the Comptroller. Provides that the Comptroller must, in cooperation with reporting municipalities, create a format for the reporting of certain information. Provides that the Comptroller may allow these reports to be filed electronically and may display the report, or portions of the report, electronically via the Internet. Provides that the reports must be made available for examination and copying by the public at all reasonable times. HOUSE AMENDMENT NO. 4. Provides that the maturity date for tax increment financing obligations may not exceed 35 years if the ordinance approving the redevelopment project was adopted in December 1984 by the Village of Rosemont. HOUSE AMENDMENT NO. 6. Provides that "blighted area" includes a vacant area where the sound growth is impaired by a combination of certain factors each of which is reasonably distributed throughout the vacant part to which it pertains. HOUSE AMENDMENT NO. 7. Provides that a property interest acquired in a single parcel of property by a member of the corporate authority, which property is used exclusively as the member's primary residence, shall not be deemed to constitute a prohibited interest in any property included in a redevelopment area or proposed redevelopment area that was established before December 31, 1989, but the member must disclose the acquisition to the municipal clerk. Last action on Bill: PUBLIC ACT.............................. 91-0478 Last action date: 99-08-11 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 5 SENATE - 1 END OF INQUIRY Full Text Bill Status