98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5349
 
Introduced , by Rep. Thaddeus Jones
 
SYNOPSIS AS INTRODUCED:
 

 
15 ILCS 505/20 new
30 ILCS 105/34.5 new

     Amends the State Finance Act. Requires the mayor or village president of each municipality to submit a 3-year economic development and housing stabilization plan for the municipality to the municipality's city council or village board for approval. Provides that after receiving such approval, the mayor or village president shall submit the plan to the Director of Commerce and Economic Opportunity for certification. Prohibits the State Treasurer from distributing any funds to a municipality until receipt of the certification. Makes conforming changes in the State Treasurer Act.
  


LRB098 15637 JLK 50668 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB5349LRB098 15637 JLK 50668 b


  
1    AN ACT concerning finance.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The State Treasurer Act is amended  by adding 
5Section 20 as follows:
 
6    (15 ILCS 505/20 new)
7    Sec. 20. Dispersal of funds to a municipality. 
8Notwithstanding any other provision of law, the State Treasurer 
9may not disperse any funds to a municipality unless the 
10requirements of Section 34.5 of the State Finance Act have been 
11complied with.
 
12    Section 10. The State Finance Act is amended  by adding 
13Section 34.5 as follows:
 
14    (30 ILCS 105/34.5 new)
15    Sec. 34.5. Receipt of municipal funds. Notwithstanding any 
16other provision of law, on or before December 31, 2014, and on 
17or before December 31 of each year thereafter, the mayor or 
18village president of each municipality shall submit a 3-year 
19economic development and housing stabilization plan for the 
20municipality to the municipality's city council or village 
21board for their approval. Upon receiving such approval, the 
 
 
HB5349- 2 -LRB098 15637 JLK 50668 b

1mayor or village president shall submit the plan to the 
2Department of Commerce and Economic Opportunity. The Director 
3of Commerce and Economic Opportunity shall then certify to the 
4State Treasurer the filing of the report. The State Treasurer 
5shall not distribute any funds to a municipality without 
6receipt of the certification. The Department of Commerce and 
7Economic Opportunity shall by rule provide for the requirements 
8that must be included in a municipality's report of its 3-year 
9economic development and housing stabilization plan.