Sen. Dave Syverson
Filed: 4/28/2010
 
 

 




 

 		












09600HB5603sam002

LRB096 17895 HLH 40803 a






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AMENDMENT TO HOUSE BILL 5603 




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    AMENDMENT NO. ______. Amend House Bill 5603 on page 2, 
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immediately below line 2, by inserting the following:




 
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    "Section 10. The Illinois Municipal Code is amended  by 
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changing Section 11-74.6-50 as follows:
 
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    (65 ILCS 5/11-74.6-50)
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    Sec. 11-74.6-50. Report; sunset of authority. On or before 
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the date which is 60 months following the
date
on which
this 
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amendatory Act of 1994 becomes law, the Department shall submit 
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to the
General Assembly a
report detailing the number of 
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redevelopment project areas that have been
established, the 
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number and type of jobs created or retained
therein, the 
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aggregate amount of tax increment incentives provided, the

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aggregate amount of private investment produced therein, the 
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amount of tax
increment revenue produced and available for 
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expenditure within the tax
increment financing districts  and 
 


 






09600HB5603sam002
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LRB096 17895 HLH 40803 a




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such additional
information
as the Department may determine to 
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be relevant. 
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    On or after January 1, 2013 the date which
is 16 years 
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following the date on which this amendatory Act
of 1994 becomes

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law the authority
granted hereunder to municipalities to 
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establish redevelopment
project areas and to adopt tax 
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increment allocation financing in connection
therewith
shall 
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expire unless the General Assembly shall have
authorized 
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municipalities to continue to exercise said
powers.
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(Source: P.A. 91-474, eff. 11-1-99.)".