Rep. Dave Winters
Filed: 3/11/2010
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1 | AMENDMENT TO HOUSE BILL 5655
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2 | AMENDMENT NO. ______. Amend House Bill 5655 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Illinois Municipal Code is amended by | ||||||
5 | changing Section 11-74.6-50 as follows: | ||||||
6 | (65 ILCS 5/11-74.6-50) | ||||||
7 | Sec. 11-74.6-50. Report; sunset of authority. On or before | ||||||
8 | the date which is 60 months following the
date
on which
this | ||||||
9 | amendatory Act of 1994 becomes law, the Department shall submit | ||||||
10 | to the
General Assembly a
report detailing the number of | ||||||
11 | redevelopment project areas that have been
established, the | ||||||
12 | number and type of jobs created or retained
therein, the | ||||||
13 | aggregate amount of tax increment incentives provided, the
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14 | aggregate amount of private investment produced therein, the | ||||||
15 | amount of tax
increment revenue produced and available for | ||||||
16 | expenditure within the tax
increment financing districts and |
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1 | such additional
information
as the Department may determine to | ||||||
2 | be relevant. | ||||||
3 | On or after January 1, 2012 the date which
is 16 years | ||||||
4 | following the date on which this amendatory Act
of 1994 becomes
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5 | law the authority
granted hereunder to municipalities to | ||||||
6 | establish redevelopment
project areas and to adopt tax | ||||||
7 | increment allocation financing in connection
therewith
shall | ||||||
8 | expire unless the General Assembly shall have
authorized | ||||||
9 | municipalities to continue to exercise said
powers. | ||||||
10 | (Source: P.A. 91-474, eff. 11-1-99.)
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11 | Section 99. Effective date. This Act takes effect upon | ||||||
12 | becoming law.".
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