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| [ Introduced ] | [ Enrolled ] | [ Senate Amendment 001 ] |
| [ Senate Amendment 002 ] |
92_SB2227eng SB2227 Engrossed LRB9216068SMmb 1 AN ACT concerning economic development. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The County Economic Development Project Area 5 Property Tax Allocation Act is amended by changing Sections 4 6 and 5 as follows: 7 (55 ILCS 85/4) (from Ch. 34, par. 7004) 8 Sec. 4. Establishment of economic development project 9 area; ordinance; joint review board; notice; hearing; changes 10 in economic development plan; annual reporting requirements. 11 Economic development project areas shall be established as 12 follows: 13 (a) The corporate authorities of WhitesideaCounty,14with more than 200,000 and less than 300,000 inhabitants and15which is adjacent to the Mississippi River,may by ordinance 16 propose the establishment of an economic development project 17 area and fix a time and place for a public hearing, and shall 18 submit a certified copy of the ordinance as adopted to the 19 Department. 20 (b) Any county which adopts an ordinance which fixes a 21 date, time and place for a public hearing shall convene a 22 joint review board as hereinafter provided. Not less than 45 23 days prior to the date fixed for the public hearing, the 24 county shall give notice by mailing to the chief executive 25 officer of each affected taxing district having taxable 26 property included in the proposed economic development 27 project area that such chief executive officer or his 28 designee is invited to participate in a joint review board. 29 The designee shall serve at the discretion of the chief 30 executive officer of the taxing district for a term not to 31 exceed 2 years. Such notice shall advise each chief executive SB2227 Engrossed -2- LRB9216068SMmb 1 officer of the date, time and place of the first meeting of 2 such joint review board, which shall occur not less than 30 3 days prior to the date of the public hearing. Such notice by 4 mail shall be given by depositing such notice in the United 5 States Postal Service by certified mail. 6 At or prior to the first meeting of such joint review 7 board the county shall furnish to any member of such joint 8 review board copies of the proposed economic development plan 9 and any related documents which such member shall reasonably 10 request. A majority of the members of such joint review 11 board present at any meeting shall constitute a quorum. 12 Additional meetings may be called by any member of a joint 13 review board upon the giving of notice not less than 72 hours 14 prior to the date of any additional meeting to all members of 15 the joint review board. The joint review board shall review 16 such information and material as its members reasonably deem 17 relevant to the county's proposals to approve economic 18 development plans and economic development projects and to 19 designate economic development project areas. The county 20 shall provide such information and material promptly upon the 21 request of the joint review board and may also provide 22 administrative support and facilities as the joint review 23 board may reasonably require. 24 Within 30 days of its first meeting, a joint review board 25 shall provide the county with a written report of its review 26 of any proposal to approve an economic development plan and 27 economic development project and to designate an economic 28 development project area. Such written report shall include 29 such information and advisory, nonbinding recommendations as 30 a majority of the members of the joint review board shall 31 deem relevant. Written reports of joint review boards may 32 include information and advisory, nonbinding recommendations 33 provided by a minority of the members thereof. Any joint 34 review board which does not provide such written report SB2227 Engrossed -3- LRB9216068SMmb 1 within such 30-day period shall be deemed to have recommended 2 that the county proceed with a proposal to approve an 3 economic development plan and economic development project 4 and to designate an economic development project area. 5 (c) Notice of the public hearing shall be given by 6 publication and mailing. 7 (1) Notice by publication shall be given by 8 publication at least twice, the first publication to be 9 not more than 30 nor less than 10 days prior to the 10 hearing in a newspaper of general circulation within the 11 taxing districts having property in the proposed economic 12 development project area. Notice by mailing shall be 13 given by depositing such notice together with a copy of 14 the proposed economic development plan in the United 15 States Postal Service by certified mail addressed to the 16 person or persons in whose name the general taxes for the 17 last preceding year were paid on each lot, block, tract, 18 or parcel of land lying within the proposed economic 19 development project area. The notice shall be mailed not 20 less than 10 days prior to the dates set for the public 21 hearing. In the event taxes for the last preceding year 22 were not paid, the notice shall also be sent to the 23 persons last listed on the tax rolls within the preceding 24 3 years as the owners of the property. 25 (2) The notices issued pursuant to this Section 26 shall include the following: 27 (A) The time and place of public hearing; 28 (B) The boundaries of the proposed economic 29 development project area by legal description and by 30 street location where possible; 31 (C) A notification that all interested persons 32 will be given an opportunity to be heard at the 33 public hearing; 34 (D) An invitation for any person to submit SB2227 Engrossed -4- LRB9216068SMmb 1 alternative proposals or bids for any proposed 2 conveyance, lease, mortgage or other disposition of 3 land within the proposed economic development 4 project area; 5 (E) A description of the economic development 6 plan or economic development project if a plan or 7 project is a subject matter of the hearing; and 8 (F) Such other matters as the county may deem 9 appropriate. 10 (3) Not less than 45 days prior to the date set for 11 hearing, the county shall give notice by mail as provided 12 in this subsection (c) to all taxing districts of which 13 taxable property is included in the economic development 14 project area, and to the Department. In addition to the 15 other requirements under this subsection (c), the notice 16 shall include an invitation to the Department and each 17 taxing district to submit comments to the county 18 concerning the subject matter of the hearing prior to the 19 date of the hearing. 20 (d) At the public hearing any interested person, the 21 Department or any affected taxing district may file written 22 objections with the county clerk and may be heard orally with 23 respect to any issues embodied in the notice. The county 24 shall hear and determine all alternate proposals or bids for 25 any proposed conveyance, lease, mortgage or other disposition 26 of land and all protests and objections at the hearing, and 27 the hearing may be adjourned to another date without further 28 notice other than a motion to be entered upon the minutes 29 fixing the time and place of the adjourned hearing. Public 30 hearings with regard to an economic development plan, 31 economic development project area, or economic development 32 project may be held simultaneously. 33 (e) At the public hearing, or at any time prior to the 34 adoption by the county of an ordinance approving an economic SB2227 Engrossed -5- LRB9216068SMmb 1 development plan, the county may make changes in the economic 2 development plan. Changes which (1) alter the exterior 3 boundaries of the proposed economic development project area, 4 (2) substantially affect the general land uses established in 5 the proposed economic development plan, (3) substantially 6 change the nature of the proposed economic development plan, 7 (4) change the general description of any proposed developer, 8 user or tenant of any property to be located or improved 9 within the economic development project area, or (5) change 10 the description of the type, class and number of employees to 11 be employed in the operation of the facilities to be 12 developed or improved within the economic development project 13 area shall be made only after review by joint review board, 14 notice and hearing pursuant to the procedures set forth in 15 this Section. Changes which do not (1) alter the exterior 16 boundaries of a proposed economic development project area, 17 (2) substantially affect the general land uses established in 18 the proposed plan, (3) substantially change the nature of the 19 proposed economic development plan, (4) change the general 20 description of any proposed developer, user or tenant of any 21 property to be located or improved within the economic 22 development project area, or (5) change the description of 23 the type, class and number of employees to be employed in the 24 operation of the facilities to be developed or improved 25 within the economic development project area may be made 26 without further notice or hearing, provided that the county 27 shall give notice of its changes by mail to the Department 28 and to each affected taxing district and by publication in a 29 newspaper or newspapers of general circulation with the 30 affected taxing districts. Such notice by mail and by 31 publication shall each occur not later than 10 days following 32 the adoption by ordinance of such changes. 33 (f) At any time within 90 days of the final adjournment 34 of the public hearing, a county may, by ordinance, approve SB2227 Engrossed -6- LRB9216068SMmb 1 the economic development plan, establish the economic 2 development project area, and authorize property tax 3 allocation financing for such economic development project 4 area. Any ordinance adopted which approves the economic 5 development plan shall contain findings that the economic 6 development project is reasonably expected to create or 7 retain not less than 5001,000full-time equivalent jobs, 8 that private investment in an amount not less than 9 $25,000,000$50,000,000is reasonably expected to occur in 10 the economic development project area, that the economic 11 development project will encourage the increase of commerce 12 and industry within the State, thereby reducing the evils 13 attendant upon unemployment and increasing opportunities for 14 personal income, and that the economic development project 15 will increase or maintain the property, sales and income tax 16 bases of the county and of the State. The ordinance shall 17 also state that the economic development project area shall 18 not include parcels to be used for purposes of residential 19 development. Any ordinance adopted which establishes an 20 economic development project area shall contain the 21 boundaries of such area by legal description and, where 22 possible, by street location. Any ordinance adopted which 23 authorizes property tax allocation financing shall provide 24 that the ad valorem taxes, if any, arising from the levies 25 upon taxable real property in such economic development 26 project area by taxing districts and tax rates determined in 27 the manner provided in subsection (b) of Section 6 of this 28 Act each year after the effective date of the ordinance until 29 economic development project costs and all county obligations 30 financing economic development project costs incurred under 31 this Act have been paid shall be divided as follows: 32 (1) That portion of taxes levied upon each taxable 33 lot, block, tract or parcel of real property which is 34 attributable to the lower of the current equalized SB2227 Engrossed -7- LRB9216068SMmb 1 assessed value or the initial equalized assessed value of 2 each such taxable lot, block, tract or parcel of real 3 property in the economic development project area shall 4 be allocated to, and when collected, shall be paid by the 5 county collector to the respective affected taxing 6 districts in the manner required by law in the absence of 7 the adoption of property tax allocation financing. 8 (2) That portion, if any, of such taxes which is 9 attributable to the increase in the current equalized 10 assessed valuation of each taxable lot, block, tract or 11 parcel of real property in the economic development 12 project area over and above the initial equalized 13 assessed value of each property in the economic 14 development project area shall be allocated to and when 15 collected shall be paid to the county treasurer who shall 16 deposit those taxes into a special fund called the 17 special tax allocation fund of the county for the purpose 18 of paying economic development project costs and 19 obligations incurred in the payment thereof. 20 (g) After a county has by ordinance approved an economic 21 development plan and established an economic development 22 project area, the plan may be amended and the boundaries of 23 the area may be altered only as herein provided. Amendments 24 which (1) alter the exterior boundaries of an economic 25 development project area, (2) substantially affect the 26 general land uses established pursuant to the economic 27 development plan, (3) substantially change the nature of the 28 economic development plan, (4) change the general description 29 of any proposed developer, user, or tenant of any property to 30 be located or improved within the economic development 31 project area, or (5) change the description of the type, 32 class and number of employees to be employed in the 33 operation of the facilities to be developed or improved shall 34 be made only after review by a joint review board, notice and SB2227 Engrossed -8- LRB9216068SMmb 1 hearing pursuant to the procedures set forth in this Section. 2 Amendments which do not (1) alter the exterior boundaries of 3 an economic development project area, (2) substantially 4 affect the general land uses established in the economic 5 development plan, (3) substantially change the nature of the 6 economic development plan, (4) change the description of any 7 proposed developer, user, or tenant of any property to be 8 located or improved within the economic development project 9 area, or (5) change the description of the type, class and 10 number of employees to be employed in the operation of the 11 facilities to be developed or improved within the economic 12 development project area may be made without further hearing 13 or notice, provided that the county shall give notice of any 14 amendment by mail to the Department and to each taxing 15 district and by publication in a newspaper or newspapers of 16 general circulation within the affected taxing districts. 17 Such notices by mail and by publication shall each occur not 18 later than 10 days following the adoption by ordinance of 19 such amendments. 20 (h) After the adoption of an ordinance adopting property 21 tax allocation financing for an economic development project 22 area, the county shall annually report to each taxing 23 district having taxable property within such economic 24 development project area (i) any increase or decrease in the 25 equalized assessed value of the real property located within 26 such economic development project area above or below the 27 initial equalized assessed value of such real property, (ii) 28 that portion, if any, of the ad valorem taxes arising from 29 the levies upon taxable real property in such economic 30 development project area by the taxing districts which is 31 attributable to the increase in the current equalized 32 assessed valuation of each lot, block, tract or parcel of 33 real property in the economic development project area over 34 and above the initial equalized value of each property and SB2227 Engrossed -9- LRB9216068SMmb 1 which has been allocated to the county in the current year, 2 and (iii) such other information as the county may deem 3 relevant. 4 (i) The county shall give notice by mail as provided in 5 this Section and shall reconvene the joint review board not 6 less than annually for each of the 2 years following its 7 adoption of an ordinance adopting property tax allocation 8 financing for an economic development project area and not 9 less than once in each 3-year period thereafter. The county 10 shall provide such information, and may provide 11 administrative support and facilities as the joint review 12 board may reasonably require for each of such meetings. 13 (Source: P.A. 86-1388.) 14 (55 ILCS 85/5) (from Ch. 34, par. 7005) 15 Sec. 5. Submission to Department; certification by 16 Department. 17 (a) The county shall submit certified copies of any 18 ordinances adopted approving a proposed economic development 19 plan, establishing an economic development project area, and 20 authorizing tax increment allocation financing to the 21 Department, together with (1) a map of the economic 22 development project area, (2) a copy of the economic 23 development plan as approved, (3) an analysis, and any 24 supporting documents and statistics, demonstrating that the 25 economic development project is reasonably expected to create 26 or retain not less than 5001,000full-time equivalent jobs 27 and that private investment in the amount of not less than 28 $25,000,000$50,000,000is reasonably expected to occur in 29 the economic development project area, (4) an estimate of the 30 economic impact of the economic development plan and the use 31 of property tax allocation financing upon the revenues of the 32 county and the affected taxing districts, (5) a record of all 33 public hearings held in connection with the establishment of SB2227 Engrossed -10- LRB9216068SMmb 1 the economic development project area, and (6) such other 2 information as the Department by regulation may require. 3 (b) Upon receipt of an application from a county the 4 Department shall review the application to determine whether 5 the economic development project area qualifies as an 6 economic development project area under this Act. At its 7 discretion, the Department may accept or reject the 8 application or may request such additional information as it 9 deems necessary or advisable to aid its review. If any such 10 area is found to be qualified to be an economic development 11 project area, the Department shall approve and certify such 12 economic development project area and shall provide written 13 notice of its approval and certification to the county and to 14 the county clerk. In determining whether an economic 15 development project area shall be approved and certified, the 16 Department shall consider (1) whether, without public 17 intervention, the State would suffer substantial economic 18 dislocation, such as relocation of a commercial business or 19 industrial or manufacturing facility to another state, 20 territory or country, or would not otherwise benefit from 21 private investment offering substantial employment 22 opportunities and economic growth, and (2) the impact on the 23 revenues of the county and the affected taxing districts of 24 the use of tax increment allocation financing in connection 25 with the economic development project. 26 (c) On or before July 1, 20061994, the Department shall 27 submit to the General Assembly a report detailing the number 28 of economic development project areas it has approved and 29 certified, the number and type of jobs created or retained 30 therein, the aggregate amount of private investment therein, 31 the impact in the revenues of counties and affected taxing 32 districts of the use of property tax allocation financing 33 therein, and such additional information as the Department 34 may determine to be relevant. On July 1, 20081996the SB2227 Engrossed -11- LRB9216068SMmb 1 authority granted hereunder to counties to establish economic 2 development project areas and to adopt property tax 3 allocation financing in connection therewith and to the 4 Department to approve and certify economic development 5 project areas shall expire unless the General Assembly shall 6 have authorized counties and the Department to continue to 7 exercise the powers granted to them under this Act. 8 (Source: P.A. 87-18; 88-688, eff. 1-24-95.) 9 Section 99. Effective date. This Act takes effect upon 10 becoming law.