HB3389 EngrossedLRB099 10967 AWJ 31321 b

1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Governmental Account Audit Act is amended by
5changing Sections 2 and 4 as follows:
 
6    (50 ILCS 310/2)  (from Ch. 85, par. 702)
7    Sec. 2. Except as otherwise provided in Section 3, the
8governing body of each governmental unit shall cause an audit
9of the accounts of the unit to be made by a licensed public
10accountant. Such audit shall be made annually and shall cover
11the immediately preceding fiscal year of the governmental unit.
12The audit shall include all the accounts and funds of the
13governmental unit, including the accounts of any officer of the
14governmental unit who receives fees or handles funds of the
15unit or who spends money of the unit. The audit shall begin as
16soon as possible after the close of the last fiscal year to
17which it pertains, and shall be completed and the audit report
18filed with the Comptroller within 180 days 6 months after the
19close of such fiscal year unless an extension of time is
20granted by the Comptroller in writing. An audit report which
21fails to meet the requirements of this Act shall be rejected by
22the Comptroller and returned to the governing body of the
23governmental unit for corrective action. The licensed public

 

 

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1accountant making the audit shall submit not less than 3 copies
2of the audit report to the governing body of the governmental
3unit being audited.
4    All audits to be filed with the Comptroller under this
5Section must be submitted electronically and the Comptroller
6must post the audit reports on the Internet no later than 45
7days after they are received. If the governmental unit provides
8the Comptroller's Office with sufficient evidence that the
9audit report cannot be filed electronically, the Comptroller
10may waive this requirement. The Comptroller must also post a
11list of governmental units that are not in compliance with the
12reporting requirements set forth in this Section.
13    Any financial report under this Section shall include the
14name of the purchasing agent who oversees all competitively bid
15contracts. If there is no purchasing agent, the name of the
16person responsible for oversight of all competitively bid
17contracts shall be listed.
18(Source: P.A. 97-932, eff. 8-10-12; 97-1142, eff. 12-28-12.)
 
19    (50 ILCS 310/4)  (from Ch. 85, par. 704)
20    Sec. 4. Overdue report.
21    (a) If the required report for a governmental unit is not
22filed with the Comptroller in accordance with Section 2 or
23Section 3, whichever is applicable, within 180 days 6 months
24after the close of the fiscal year of the governmental unit,
25the Comptroller shall notify the governing body of that unit in

 

 

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1writing that the report is due and may also grant a 60 day
2extension for the filing of the audit report. If the required
3report is not filed within the time specified in such written
4notice, the Comptroller shall cause an audit to be made by a
5licensed public accountant, and the governmental unit shall pay
6to the Comptroller actual compensation and expenses to
7reimburse him for the cost of preparing or completing such
8report.
9    (b) The Comptroller may decline to order an audit and the
10preparation of an audit report (i) if an initial examination of
11the books and records of the governmental unit indicates that
12the books and records of the governmental unit are inadequate
13or unavailable due to the passage of time or the occurrence of
14a natural disaster or (ii) if the Comptroller determines that
15the cost of an audit would impose an unreasonable financial
16burden on the governmental unit.
17    (c) The State Comptroller may grant extensions for
18delinquent audits or reports. The Comptroller may charge a
19governmental unit a fee for a delinquent audit or report of $5
20per day for the first 15 days past due, $10 per day for 16
21through 30 days past due, $15 per day for 31 through 45 days
22past due, and $20 per day for the 46th day and every day
23thereafter. These amounts may be reduced at the Comptroller's
24discretion. All fees collected under this subsection (c) shall
25be deposited into the Comptroller's Administrative Fund.
26(Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12;

 

 

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198-922, eff. 8-15-14.)
 
2    Section 10. The Counties Code is amended by changing
3Sections 6-31003, 6-31004, and 6-31005 as follows:
 
4    (55 ILCS 5/6-31003)  (from Ch. 34, par. 6-31003)
5    Sec. 6-31003. Annual audits and reports. The county board
6of each county shall cause an audit of all of the funds and
7accounts of the county to be made annually by an accountant or
8accountants chosen by the county board or by an accountant or
9accountants retained by the Comptroller, as hereinafter
10provided. In addition, each county shall file with the
11Comptroller a financial report containing information required
12by the Comptroller. Such financial report shall be on a form so
13designed by the Comptroller as not to require professional
14accounting services for its preparation. All audits and reports
15to be filed with the Comptroller under this Section must be
16submitted electronically and the Comptroller must post the
17audits and reports on the Internet no later than 45 days after
18they are received. If the county provides the Comptroller's
19Office with sufficient evidence that the audit or report cannot
20be filed electronically, the Comptroller may waive this
21requirement. The Comptroller must also post a list of counties
22that are not in compliance with the reporting requirements set
23forth in this Section.
24    Any financial report under this Section shall include the

 

 

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1name of the purchasing agent who oversees all competitively bid
2contracts. If there is no purchasing agent, the name of the
3person responsible for oversight of all competitively bid
4contracts shall be listed.
5    The audit shall commence as soon as possible after the
6close of each fiscal year and shall be completed within 180
7days 6 months after the close of such fiscal year, unless an
8extension of time is granted by the Comptroller in writing.
9Such extension of time shall not exceed 60 days. When the
10accountant or accountants have completed the audit a full
11report thereof shall be made and not less than 2 copies of each
12audit report shall be submitted to the county board. Each audit
13report shall be signed by the accountant making the audit and
14shall include only financial information, findings and
15conclusions that are adequately supported by evidence in the
16auditor's working papers to demonstrate or prove, when called
17upon, the basis for the matters reported and their correctness
18and reasonableness. In connection with this, each county board
19shall retain the right of inspection of the auditor's working
20papers and shall make them available to the Comptroller, or his
21designee, upon request.
22    Within 60 days of receipt of an audit report, each county
23board shall file one copy of each audit report and each
24financial report with the Comptroller and any comment or
25explanation that the county board may desire to make concerning
26such audit report may be attached thereto. An audit report

 

 

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1which fails to meet the requirements of this Division shall be
2rejected by the Comptroller and returned to the county board
3for corrective action. One copy of each such report shall be
4filed with the county clerk of the county so audited.
5    This Section is a limitation under subsection (i) of
6Section 6 of Article VII of the Illinois Constitution on the
7concurrent exercise by home rule counties of powers and
8functions exercised by the State.
9(Source: P.A. 97-890, eff. 8-2-12; 97-932, eff. 8-10-12;
1097-1142, eff. 12-28-12.)
 
11    (55 ILCS 5/6-31004)  (from Ch. 34, par. 6-31004)
12    Sec. 6-31004. Overdue reports.
13    (a) In the event the required reports for a county are not
14filed with the Comptroller in accordance with Section 6-31003
15within 180 days 6 months after the close of the fiscal year of
16the county, the Comptroller shall notify the county board in
17writing that the reports are due, and may also grant an
18extension of time of up to 60 days for the filing of the
19reports. In the event the required reports are not filed within
20the time specified in such written notice, the Comptroller
21shall cause the audit to be made and the audit report prepared
22by an accountant or accountants.
23    (b) The Comptroller may decline to order an audit and the
24preparation of an audit report if an initial examination of the
25books and records of the governmental unit indicates that the

 

 

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1books and records of the governmental unit are inadequate or
2unavailable due to the passage of time or the occurrence of a
3natural disaster.
4    (c) The State Comptroller may grant extensions for
5delinquent audits or reports. The Comptroller may charge a
6county a fee for a delinquent audit or report of $5 per day for
7the first 15 days past due, $10 per day for 16 through 30 days
8past due, $15 per day for 31 through 45 days past due, and $20
9per day for the 46th day and every day thereafter. These
10amounts may be reduced at the Comptroller's discretion. All
11fees collected under this subsection (c) shall be deposited
12into the Comptroller's Administrative Fund.
13(Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12;
1498-922, eff. 8-15-14.)
 
15    (55 ILCS 5/6-31005)  (from Ch. 34, par. 6-31005)
16    Sec. 6-31005. Funds managed by county officials. In
17addition to any other audit required by this Division, the
18County Board shall cause an audit to be made of all funds and
19accounts under the management or control of a county official
20as soon as possible after such official leaves office for any
21reason. The audit shall be filed with the county board not
22later than 180 days 6 months after the official leaves office.
23The audit shall be conducted and the audit report shall be
24prepared and filed with the Chairman of the County Board by a
25person lawfully qualified to practice public accounting as

 

 

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1regulated by "An Act to regulate the practice of public
2accounting and to repeal certain acts therein named", approved
3July 22, 1943 as amended.
4    As used in this Section, "county official" means any
5elected county officer or any officer appointed by the county
6board who is charged with the management or control of any
7county funds; and "audit" means a post facto examination of
8books, documents, records, and other evidence relating to the
9obligation, receipt, expenditure or use of public funds of the
10county, including governmental operations relating to such
11obligations, receipt, expenditure or use.
12(Source: P.A. 86-962.)
 
13    Section 15. The Illinois Municipal Code is amended by
14changing Sections 8-8-3, 8-8-3.5, 8-8-4, 11-74.4-5, and
1511-74.6-22 as follows:
 
16    (65 ILCS 5/8-8-3)  (from Ch. 24, par. 8-8-3)
17    Sec. 8-8-3. Audit requirements.
18    (a) The corporate authorities of each municipality coming
19under the provisions of this Division 8 shall cause an audit of
20the funds and accounts of the municipality to be made by an
21accountant or accountants employed by such municipality or by
22an accountant or accountants retained by the Comptroller, as
23hereinafter provided.
24    (b) The accounts and funds of each municipality having a

 

 

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1population of 800 or more or having a bonded debt or owning or
2operating any type of public utility shall be audited annually.
3The audit herein required shall include all of the accounts and
4funds of the municipality. Such audit shall be begun as soon as
5possible after the close of the fiscal year, and shall be
6completed and the report submitted within 180 days 6 months
7after the close of such fiscal year, unless an extension of
8time shall be granted by the Comptroller in writing. The
9accountant or accountants making the audit shall submit not
10less than 2 copies of the audit report to the corporate
11authorities of the municipality being audited. Municipalities
12not operating utilities may cause audits of the accounts of
13municipalities to be made more often than herein provided, by
14an accountant or accountants. The audit report of such audit
15when filed with the Comptroller together with an audit report
16covering the remainder of the period for which an audit is
17required to be filed hereunder shall satisfy the requirements
18of this section.
19    (c) Municipalities of less than 800 population which do not
20own or operate public utilities and do not have bonded debt,
21shall file annually with the Comptroller a financial report
22containing information required by the Comptroller. Such
23annual financial report shall be on forms devised by the
24Comptroller in such manner as to not require professional
25accounting services for its preparation.
26    (d) In addition to any audit report required, all

 

 

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1municipalities, except municipalities of less than 800
2population which do not own or operate public utilities and do
3not have bonded debt, shall file annually with the Comptroller
4a supplemental report on forms devised and approved by the
5Comptroller.
6    (e) Notwithstanding any provision of law to the contrary,
7if a municipality (i) has a population of less than 200, (ii)
8has bonded debt in the amount of $50,000 or less, and (iii)
9owns or operates a public utility, then the municipality shall
10cause an audit of the funds and accounts of the municipality to
11be made by an accountant employed by the municipality or
12retained by the Comptroller for fiscal year 2011 and every
13fourth fiscal year thereafter or until the municipality has a
14population of 200 or more, has bonded debt in excess of
15$50,000, or no longer owns or operates a public utility.
16Nothing in this subsection shall be construed as limiting the
17municipality's duty to file an annual financial report with the
18Comptroller or to comply with the filing requirements
19concerning the county clerk.
20    (f) All audits and reports to be filed with the Comptroller
21under this Section must be submitted electronically and the
22Comptroller must post the audits and reports on the Internet no
23later than 45 days after they are received. If the municipality
24provides the Comptroller's Office with sufficient evidence
25that the audit or report cannot be filed electronically, the
26Comptroller may waive this requirement. The Comptroller must

 

 

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1also post a list of municipalities that are not in compliance
2with the reporting requirements set forth in this Section.
3    (g) Subsection (f) of this Section is a limitation under
4subsection (i) of Section 6 of Article VII of the Illinois
5Constitution on the concurrent exercise by home rule
6municipalities of powers and functions exercised by the State.
7    (h) Any financial report under this Section shall include
8the name of the purchasing agent who oversees all competitively
9bid contracts. If there is no purchasing agent, the name of the
10person responsible for oversight of all competitively bid
11contracts shall be listed.
12(Source: P.A. 96-1309, eff. 7-27-10; 97-890, eff. 8-2-12;
1397-932, eff. 8-10-12; 97-1142, eff. 12-28-12.)
 
14    (65 ILCS 5/8-8-3.5)
15    Sec. 8-8-3.5. Tax Increment Financing Report. The reports
16filed under subsection (d) of Section 11-74.4-5 of the Tax
17Increment Allocation Redevelopment Act and the reports filed
18under subsection (d) of Section 11-74.6-22 of the Industrial
19Jobs Recovery Law in the Illinois Municipal Code must be
20separate from any other annual report filed with the
21Comptroller. The Comptroller must, in cooperation with
22reporting municipalities, create a format for the reporting of
23information described in paragraphs (1.5) and (5) and in
24subparagraph (G) of paragraph (7) of subsection (d) of Section
2511-74.4-5 of the Tax Increment Allocation Redevelopment Act and

 

 

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1the information described in paragraphs (1.5) and (5) and in
2subparagraph (G) of paragraph (7) of subsection (d) of Section
311-74.6-22 of the Industrial Jobs Recovery Law that facilitates
4consistent reporting among the reporting municipalities. The
5Comptroller may allow these reports to be filed electronically
6and may display the report, or portions of the report,
7electronically via the Internet. All reports filed under this
8Section must be made available for examination and copying by
9the public at all reasonable times. A Tax Increment Financing
10Report must be filed electronically with the Comptroller within
11180 days after the close of the municipal fiscal year or as
12soon thereafter as the audit for the redevelopment project area
13for that fiscal year becomes available. If the Tax Increment
14Finance administrator provides the Comptroller's office with
15sufficient evidence that the report is in the process of being
16completed by an auditor, the Comptroller may grant an
17extension. If the required report is not filed within the time
18extended by the Comptroller, the Comptroller shall notify the
19corporate authorities of that municipality that the audit
20report is past due. The Comptroller may charge a municipality a
21fee of $5 per day for the first 15 days past due, $10 per day
22for 16 through 30 days past due, $15 per day for 31 through 45
23days past due, and $20 per day for the 46th day and every day
24thereafter. These amounts may be reduced at the Comptroller's
25discretion. In the event the required audit report is not filed
26within 60 days of such notice, the Comptroller shall cause such

 

 

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1audit to be made by an accountant or accountants. The
2Comptroller may decline to order an audit and the preparation
3of an audit report if an initial examination of the books and
4records of the municipality indicates that books and records of
5the municipality are inadequate or unavailable to support the
6preparation of the audit report or the supplemental report due
7to the passage of time or the occurrence of a natural disaster.
8All fees collected pursuant to this Section shall be deposited
9into the Comptroller's Administrative Fund. In the event the
10Comptroller causes an audit to be made in accordance with the
11requirements of this Section, the municipality shall pay to the
12Comptroller reasonable compensation and expenses to reimburse
13her for the cost of preparing or completing such report. Moneys
14paid to the Comptroller pursuant to the preceding sentence
15shall be deposited into the Comptroller's Audit Expense
16Revolving Fund.
17(Source: P.A. 98-497, eff. 8-16-13; 98-922, eff. 8-15-14.)
 
18    (65 ILCS 5/8-8-4)  (from Ch. 24, par. 8-8-4)
19    Sec. 8-8-4. Overdue reports.
20    (a) In the event the required audit report for a
21municipality is not filed with the Comptroller in accordance
22with Section 8-8-7 within 180 days 6 months after the close of
23the fiscal year of the municipality, the Comptroller shall
24notify the corporate authorities of that municipality in
25writing that the audit report is due, and may also grant an

 

 

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1extension of time of 60 days, for the filing of the audit
2report. In the event the required audit report is not filed
3within the time specified in such written notice, the
4Comptroller shall cause such audit to be made by an accountant
5or accountants. In the event the required annual or
6supplemental report for a municipality is not filed within 6
7months after the close of the fiscal year of the municipality,
8the Comptroller shall notify the corporate authorities of that
9municipality in writing that the annual or supplemental report
10is due and may grant an extension in time of 60 days for the
11filing of such annual or supplemental report.
12    (b) In the event the annual or supplemental report is not
13filed within the time extended by the Comptroller, the
14Comptroller shall cause such annual or supplemental report to
15be prepared or completed and the municipality shall pay to the
16Comptroller reasonable compensation and expenses to reimburse
17him for the cost of preparing or completing such annual or
18supplemental report. Moneys paid to the Comptroller pursuant to
19the preceding sentence shall be deposited into the
20Comptroller's Audit Expense Revolving Fund.
21    (c) The Comptroller may decline to order an audit or the
22completion of the supplemental report if an initial examination
23of the books and records of the municipality indicates that
24books and records of the municipality are inadequate or
25unavailable to support the preparation of the audit report or
26the supplemental report due to the passage of time or the

 

 

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1occurrence of a natural disaster.
2    (d) The State Comptroller may grant extensions for
3delinquent audits or reports. The Comptroller may charge a
4municipality a fee for a delinquent audit or report of $5 per
5day for the first 15 days past due, $10 per day for 16 through
630 days past due, $15 per day for 31 through 45 days past due,
7and $20 per day for the 46th day and every day thereafter.
8These amounts may be reduced at the Comptroller's discretion.
9All fees collected under this subsection (d) shall be deposited
10into the Comptroller's Administrative Fund.
11(Source: P.A. 97-890, eff. 8-2-12; 97-1142, eff. 12-28-12;
1298-922, eff. 8-15-14.)
 
13    (65 ILCS 5/11-74.4-5)  (from Ch. 24, par. 11-74.4-5)
14    Sec. 11-74.4-5. Public hearing; joint review board.
15    (a) The changes made by this amendatory Act of the 91st
16General Assembly do not apply to a municipality that, (i)
17before the effective date of this amendatory Act of the 91st
18General Assembly, has adopted an ordinance or resolution fixing
19a time and place for a public hearing under this Section or
20(ii) before July 1, 1999, has adopted an ordinance or
21resolution providing for a feasibility study under Section
2211-74.4-4.1, but has not yet adopted an ordinance approving
23redevelopment plans and redevelopment projects or designating
24redevelopment project areas under Section 11-74.4-4, until
25after that municipality adopts an ordinance approving

 

 

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1redevelopment plans and redevelopment projects or designating
2redevelopment project areas under Section 11-74.4-4;
3thereafter the changes made by this amendatory Act of the 91st
4General Assembly apply to the same extent that they apply to
5redevelopment plans and redevelopment projects that were
6approved and redevelopment projects that were designated
7before the effective date of this amendatory Act of the 91st
8General Assembly.
9    Prior to the adoption of an ordinance proposing the
10designation of a redevelopment project area, or approving a
11redevelopment plan or redevelopment project, the municipality
12by its corporate authorities, or as it may determine by any
13commission designated under subsection (k) of Section
1411-74.4-4 shall adopt an ordinance or resolution fixing a time
15and place for public hearing. At least 10 days prior to the
16adoption of the ordinance or resolution establishing the time
17and place for the public hearing, the municipality shall make
18available for public inspection a redevelopment plan or a
19separate report that provides in reasonable detail the basis
20for the eligibility of the redevelopment project area. The
21report along with the name of a person to contact for further
22information shall be sent within a reasonable time after the
23adoption of such ordinance or resolution to the affected taxing
24districts by certified mail. On and after the effective date of
25this amendatory Act of the 91st General Assembly, the
26municipality shall print in a newspaper of general circulation

 

 

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1within the municipality a notice that interested persons may
2register with the municipality in order to receive information
3on the proposed designation of a redevelopment project area or
4the approval of a redevelopment plan. The notice shall state
5the place of registration and the operating hours of that
6place. The municipality shall have adopted reasonable rules to
7implement this registration process under Section 11-74.4-4.2.
8The municipality shall provide notice of the availability of
9the redevelopment plan and eligibility report, including how to
10obtain this information, by mail within a reasonable time after
11the adoption of the ordinance or resolution, to all residential
12addresses that, after a good faith effort, the municipality
13determines are located outside the proposed redevelopment
14project area and within 750 feet of the boundaries of the
15proposed redevelopment project area. This requirement is
16subject to the limitation that in a municipality with a
17population of over 100,000, if the total number of residential
18addresses outside the proposed redevelopment project area and
19within 750 feet of the boundaries of the proposed redevelopment
20project area exceeds 750, the municipality shall be required to
21provide the notice to only the 750 residential addresses that,
22after a good faith effort, the municipality determines are
23outside the proposed redevelopment project area and closest to
24the boundaries of the proposed redevelopment project area.
25Notwithstanding the foregoing, notice given after August 7,
262001 (the effective date of Public Act 92-263) and before the

 

 

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1effective date of this amendatory Act of the 92nd General
2Assembly to residential addresses within 750 feet of the
3boundaries of a proposed redevelopment project area shall be
4deemed to have been sufficiently given in compliance with this
5Act if given only to residents outside the boundaries of the
6proposed redevelopment project area. The notice shall also be
7provided by the municipality, regardless of its population, to
8those organizations and residents that have registered with the
9municipality for that information in accordance with the
10registration guidelines established by the municipality under
11Section 11-74.4-4.2.
12    At the public hearing any interested person or affected
13taxing district may file with the municipal clerk written
14objections to and may be heard orally in respect to any issues
15embodied in the notice. The municipality shall hear all
16protests and objections at the hearing and the hearing may be
17adjourned to another date without further notice other than a
18motion to be entered upon the minutes fixing the time and place
19of the subsequent hearing. At the public hearing or at any time
20prior to the adoption by the municipality of an ordinance
21approving a redevelopment plan, the municipality may make
22changes in the redevelopment plan. Changes which (1) add
23additional parcels of property to the proposed redevelopment
24project area, (2) substantially affect the general land uses
25proposed in the redevelopment plan, (3) substantially change
26the nature of or extend the life of the redevelopment project,

 

 

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1or (4) increase the number of inhabited residential units to be
2displaced from the redevelopment project area, as measured from
3the time of creation of the redevelopment project area, to a
4total of more than 10, shall be made only after the
5municipality gives notice, convenes a joint review board, and
6conducts a public hearing pursuant to the procedures set forth
7in this Section and in Section 11-74.4-6 of this Act. Changes
8which do not (1) add additional parcels of property to the
9proposed redevelopment project area, (2) substantially affect
10the general land uses proposed in the redevelopment plan, (3)
11substantially change the nature of or extend the life of the
12redevelopment project, or (4) increase the number of inhabited
13residential units to be displaced from the redevelopment
14project area, as measured from the time of creation of the
15redevelopment project area, to a total of more than 10, may be
16made without further hearing, provided that the municipality
17shall give notice of any such changes by mail to each affected
18taxing district and registrant on the interested parties
19registry, provided for under Section 11-74.4-4.2, and by
20publication in a newspaper of general circulation within the
21affected taxing district. Such notice by mail and by
22publication shall each occur not later than 10 days following
23the adoption by ordinance of such changes. Hearings with regard
24to a redevelopment project area, project or plan may be held
25simultaneously.
26    (b) Prior to holding a public hearing to approve or amend a

 

 

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1redevelopment plan or to designate or add additional parcels of
2property to a redevelopment project area, the municipality
3shall convene a joint review board. The board shall consist of
4a representative selected by each community college district,
5local elementary school district and high school district or
6each local community unit school district, park district,
7library district, township, fire protection district, and
8county that will have the authority to directly levy taxes on
9the property within the proposed redevelopment project area at
10the time that the proposed redevelopment project area is
11approved, a representative selected by the municipality and a
12public member. The public member shall first be selected and
13then the board's chairperson shall be selected by a majority of
14the board members present and voting.
15    For redevelopment project areas with redevelopment plans
16or proposed redevelopment plans that would result in the
17displacement of residents from 10 or more inhabited residential
18units or that include 75 or more inhabited residential units,
19the public member shall be a person who resides in the
20redevelopment project area. If, as determined by the housing
21impact study provided for in paragraph (5) of subsection (n) of
22Section 11-74.4-3, or if no housing impact study is required
23then based on other reasonable data, the majority of
24residential units are occupied by very low, low, or moderate
25income households, as defined in Section 3 of the Illinois
26Affordable Housing Act, the public member shall be a person who

 

 

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1resides in very low, low, or moderate income housing within the
2redevelopment project area. Municipalities with fewer than
315,000 residents shall not be required to select a person who
4lives in very low, low, or moderate income housing within the
5redevelopment project area, provided that the redevelopment
6plan or project will not result in displacement of residents
7from 10 or more inhabited units, and the municipality so
8certifies in the plan. If no person satisfying these
9requirements is available or if no qualified person will serve
10as the public member, then the joint review board is relieved
11of this paragraph's selection requirements for the public
12member.
13    Within 90 days of the effective date of this amendatory Act
14of the 91st General Assembly, each municipality that designated
15a redevelopment project area for which it was not required to
16convene a joint review board under this Section shall convene a
17joint review board to perform the duties specified under
18paragraph (e) of this Section.
19    All board members shall be appointed and the first board
20meeting shall be held at least 14 days but not more than 28
21days after the mailing of notice by the municipality to the
22taxing districts as required by Section 11-74.4-6(c).
23Notwithstanding the preceding sentence, a municipality that
24adopted either a public hearing resolution or a feasibility
25resolution between July 1, 1999 and July 1, 2000 that called
26for the meeting of the joint review board within 14 days of

 

 

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1notice of public hearing to affected taxing districts is deemed
2to be in compliance with the notice, meeting, and public
3hearing provisions of the Act. Such notice shall also advise
4the taxing bodies represented on the joint review board of the
5time and place of the first meeting of the board. Additional
6meetings of the board shall be held upon the call of any
7member. The municipality seeking designation of the
8redevelopment project area shall provide administrative
9support to the board.
10    The board shall review (i) the public record, planning
11documents and proposed ordinances approving the redevelopment
12plan and project and (ii) proposed amendments to the
13redevelopment plan or additions of parcels of property to the
14redevelopment project area to be adopted by the municipality.
15As part of its deliberations, the board may hold additional
16hearings on the proposal. A board's recommendation shall be an
17advisory, non-binding recommendation. The recommendation shall
18be adopted by a majority of those members present and voting.
19The recommendations shall be submitted to the municipality
20within 30 days after convening of the board. Failure of the
21board to submit its report on a timely basis shall not be cause
22to delay the public hearing or any other step in the process of
23designating or amending the redevelopment project area but
24shall be deemed to constitute approval by the joint review
25board of the matters before it.
26    The board shall base its recommendation to approve or

 

 

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1disapprove the redevelopment plan and the designation of the
2redevelopment project area or the amendment of the
3redevelopment plan or addition of parcels of property to the
4redevelopment project area on the basis of the redevelopment
5project area and redevelopment plan satisfying the plan
6requirements, the eligibility criteria defined in Section
711-74.4-3, and the objectives of this Act.
8    The board shall issue a written report describing why the
9redevelopment plan and project area or the amendment thereof
10meets or fails to meet one or more of the objectives of this
11Act and both the plan requirements and the eligibility criteria
12defined in Section 11-74.4-3. In the event the Board does not
13file a report it shall be presumed that these taxing bodies
14find the redevelopment project area and redevelopment plan
15satisfy the objectives of this Act and the plan requirements
16and eligibility criteria.
17    If the board recommends rejection of the matters before it,
18the municipality will have 30 days within which to resubmit the
19plan or amendment. During this period, the municipality will
20meet and confer with the board and attempt to resolve those
21issues set forth in the board's written report that led to the
22rejection of the plan or amendment.
23    Notwithstanding the resubmission set forth above, the
24municipality may commence the scheduled public hearing and
25either adjourn the public hearing or continue the public
26hearing until a date certain. Prior to continuing any public

 

 

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1hearing to a date certain, the municipality shall announce
2during the public hearing the time, date, and location for the
3reconvening of the public hearing. Any changes to the
4redevelopment plan necessary to satisfy the issues set forth in
5the joint review board report shall be the subject of a public
6hearing before the hearing is adjourned if the changes would
7(1) substantially affect the general land uses proposed in the
8redevelopment plan, (2) substantially change the nature of or
9extend the life of the redevelopment project, or (3) increase
10the number of inhabited residential units to be displaced from
11the redevelopment project area, as measured from the time of
12creation of the redevelopment project area, to a total of more
13than 10. Changes to the redevelopment plan necessary to satisfy
14the issues set forth in the joint review board report shall not
15require any further notice or convening of a joint review board
16meeting, except that any changes to the redevelopment plan that
17would add additional parcels of property to the proposed
18redevelopment project area shall be subject to the notice,
19public hearing, and joint review board meeting requirements
20established for such changes by subsection (a) of Section
2111-74.4-5.
22    In the event that the municipality and the board are unable
23to resolve these differences, or in the event that the
24resubmitted plan or amendment is rejected by the board, the
25municipality may proceed with the plan or amendment, but only
26upon a three-fifths vote of the corporate authority responsible

 

 

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1for approval of the plan or amendment, excluding positions of
2members that are vacant and those members that are ineligible
3to vote because of conflicts of interest.
4    (c) After a municipality has by ordinance approved a
5redevelopment plan and designated a redevelopment project
6area, the plan may be amended and additional properties may be
7added to the redevelopment project area only as herein
8provided. Amendments which (1) add additional parcels of
9property to the proposed redevelopment project area, (2)
10substantially affect the general land uses proposed in the
11redevelopment plan, (3) substantially change the nature of the
12redevelopment project, (4) increase the total estimated
13redevelopment project costs set out in the redevelopment plan
14by more than 5% after adjustment for inflation from the date
15the plan was adopted, (5) add additional redevelopment project
16costs to the itemized list of redevelopment project costs set
17out in the redevelopment plan, or (6) increase the number of
18inhabited residential units to be displaced from the
19redevelopment project area, as measured from the time of
20creation of the redevelopment project area, to a total of more
21than 10, shall be made only after the municipality gives
22notice, convenes a joint review board, and conducts a public
23hearing pursuant to the procedures set forth in this Section
24and in Section 11-74.4-6 of this Act. Changes which do not (1)
25add additional parcels of property to the proposed
26redevelopment project area, (2) substantially affect the

 

 

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1general land uses proposed in the redevelopment plan, (3)
2substantially change the nature of the redevelopment project,
3(4) increase the total estimated redevelopment project cost set
4out in the redevelopment plan by more than 5% after adjustment
5for inflation from the date the plan was adopted, (5) add
6additional redevelopment project costs to the itemized list of
7redevelopment project costs set out in the redevelopment plan,
8or (6) increase the number of inhabited residential units to be
9displaced from the redevelopment project area, as measured from
10the time of creation of the redevelopment project area, to a
11total of more than 10, may be made without further public
12hearing and related notices and procedures including the
13convening of a joint review board as set forth in Section
1411-74.4-6 of this Act, provided that the municipality shall
15give notice of any such changes by mail to each affected taxing
16district and registrant on the interested parties registry,
17provided for under Section 11-74.4-4.2, and by publication in a
18newspaper of general circulation within the affected taxing
19district. Such notice by mail and by publication shall each
20occur not later than 10 days following the adoption by
21ordinance of such changes.
22    (d) After the effective date of this amendatory Act of the
2391st General Assembly, a municipality shall submit in an
24electronic format the following information for each
25redevelopment project area (i) to the State Comptroller under
26Section 8-8-3.5 of the Illinois Municipal Code, subject to any

 

 

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1extensions or exemptions provided at the Comptroller's
2discretion under that Section, and (ii) to all taxing districts
3overlapping the redevelopment project area no later than 180
4days after the close of each municipal fiscal year or as soon
5thereafter as the audited financial statements become
6available and, in any case, shall be submitted before the
7annual meeting of the Joint Review Board to each of the taxing
8districts that overlap the redevelopment project area:
9        (1) Any amendments to the redevelopment plan, the
10    redevelopment project area, or the State Sales Tax
11    Boundary.
12        (1.5) A list of the redevelopment project areas
13    administered by the municipality and, if applicable, the
14    date each redevelopment project area was designated or
15    terminated by the municipality.
16        (2) Audited financial statements of the special tax
17    allocation fund once a cumulative total of $100,000 has
18    been deposited in the fund.
19        (3) Certification of the Chief Executive Officer of the
20    municipality that the municipality has complied with all of
21    the requirements of this Act during the preceding fiscal
22    year.
23        (4) An opinion of legal counsel that the municipality
24    is in compliance with this Act.
25        (5) An analysis of the special tax allocation fund
26    which sets forth:

 

 

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1            (A) the balance in the special tax allocation fund
2        at the beginning of the fiscal year;
3            (B) all amounts deposited in the special tax
4        allocation fund by source;
5            (C) an itemized list of all expenditures from the
6        special tax allocation fund by category of permissible
7        redevelopment project cost; and
8            (D) the balance in the special tax allocation fund
9        at the end of the fiscal year including a breakdown of
10        that balance by source and a breakdown of that balance
11        identifying any portion of the balance that is
12        required, pledged, earmarked, or otherwise designated
13        for payment of or securing of obligations and
14        anticipated redevelopment project costs. Any portion
15        of such ending balance that has not been identified or
16        is not identified as being required, pledged,
17        earmarked, or otherwise designated for payment of or
18        securing of obligations or anticipated redevelopment
19        projects costs shall be designated as surplus as set
20        forth in Section 11-74.4-7 hereof.
21        (6) A description of all property purchased by the
22    municipality within the redevelopment project area
23    including:
24            (A) Street address.
25            (B) Approximate size or description of property.
26            (C) Purchase price.

 

 

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1            (D) Seller of property.
2        (7) A statement setting forth all activities
3    undertaken in furtherance of the objectives of the
4    redevelopment plan, including:
5            (A) Any project implemented in the preceding
6        fiscal year.
7            (B) A description of the redevelopment activities
8        undertaken.
9            (C) A description of any agreements entered into by
10        the municipality with regard to the disposition or
11        redevelopment of any property within the redevelopment
12        project area or the area within the State Sales Tax
13        Boundary.
14            (D) Additional information on the use of all funds
15        received under this Division and steps taken by the
16        municipality to achieve the objectives of the
17        redevelopment plan.
18            (E) Information regarding contracts that the
19        municipality's tax increment advisors or consultants
20        have entered into with entities or persons that have
21        received, or are receiving, payments financed by tax
22        increment revenues produced by the same redevelopment
23        project area.
24            (F) Any reports submitted to the municipality by
25        the joint review board.
26            (G) A review of public and, to the extent possible,

 

 

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1        private investment actually undertaken to date after
2        the effective date of this amendatory Act of the 91st
3        General Assembly and estimated to be undertaken during
4        the following year. This review shall, on a
5        project-by-project basis, set forth the estimated
6        amounts of public and private investment incurred
7        after the effective date of this amendatory Act of the
8        91st General Assembly and provide the ratio of private
9        investment to public investment to the date of the
10        report and as estimated to the completion of the
11        redevelopment project.
12        (8) With regard to any obligations issued by the
13    municipality:
14            (A) copies of any official statements; and
15            (B) an analysis prepared by financial advisor or
16        underwriter setting forth: (i) nature and term of
17        obligation; and (ii) projected debt service including
18        required reserves and debt coverage.
19        (9) For special tax allocation funds that have
20    experienced cumulative deposits of incremental tax
21    revenues of $100,000 or more, a certified audit report
22    reviewing compliance with this Act performed by an
23    independent public accountant certified and licensed by
24    the authority of the State of Illinois. The financial
25    portion of the audit must be conducted in accordance with
26    Standards for Audits of Governmental Organizations,

 

 

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1    Programs, Activities, and Functions adopted by the
2    Comptroller General of the United States (1981), as
3    amended, or the standards specified by Section 8-8-5 of the
4    Illinois Municipal Auditing Law of the Illinois Municipal
5    Code. The audit report shall contain a letter from the
6    independent certified public accountant indicating
7    compliance or noncompliance with the requirements of
8    subsection (q) of Section 11-74.4-3. For redevelopment
9    plans or projects that would result in the displacement of
10    residents from 10 or more inhabited residential units or
11    that contain 75 or more inhabited residential units, notice
12    of the availability of the information, including how to
13    obtain the report, required in this subsection shall also
14    be sent by mail to all residents or organizations that
15    operate in the municipality that register with the
16    municipality for that information according to
17    registration procedures adopted under Section 11-74.4-4.2.
18    All municipalities are subject to this provision.
19        (10) A list of all intergovernmental agreements in
20    effect during the fiscal year to which the municipality is
21    a party and an accounting of any moneys transferred or
22    received by the municipality during that fiscal year
23    pursuant to those intergovernmental agreements.
24    (d-1) Prior to the effective date of this amendatory Act of
25the 91st General Assembly, municipalities with populations of
26over 1,000,000 shall, after adoption of a redevelopment plan or

 

 

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1project, make available upon request to any taxing district in
2which the redevelopment project area is located the following
3information:
4        (1) Any amendments to the redevelopment plan, the
5    redevelopment project area, or the State Sales Tax
6    Boundary; and
7        (2) In connection with any redevelopment project area
8    for which the municipality has outstanding obligations
9    issued to provide for redevelopment project costs pursuant
10    to Section 11-74.4-7, audited financial statements of the
11    special tax allocation fund.
12    (e) The joint review board shall meet annually 180 days
13after the close of the municipal fiscal year or as soon as the
14redevelopment project audit for that fiscal year becomes
15available to review the effectiveness and status of the
16redevelopment project area up to that date.
17    (f) (Blank).
18    (g) In the event that a municipality has held a public
19hearing under this Section prior to March 14, 1994 (the
20effective date of Public Act 88-537), the requirements imposed
21by Public Act 88-537 relating to the method of fixing the time
22and place for public hearing, the materials and information
23required to be made available for public inspection, and the
24information required to be sent after adoption of an ordinance
25or resolution fixing a time and place for public hearing shall
26not be applicable.

 

 

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1    (h) On and after the effective date of this amendatory Act
2of the 96th General Assembly, the State Comptroller must post
3on the State Comptroller's official website the information
4submitted by a municipality pursuant to subsection (d) of this
5Section. The information must be posted no later than 45 days
6after the State Comptroller receives the information from the
7municipality. The State Comptroller must also post a list of
8the municipalities not in compliance with the reporting
9requirements set forth in subsection (d) of this Section.
10    (i) No later than 10 years after the corporate authorities
11of a municipality adopt an ordinance to establish a
12redevelopment project area, the municipality must compile a
13status report concerning the redevelopment project area. The
14status report must detail without limitation the following: (i)
15the amount of revenue generated within the redevelopment
16project area, (ii) any expenditures made by the municipality
17for the redevelopment project area including without
18limitation expenditures from the special tax allocation fund,
19(iii) the status of planned activities, goals, and objectives
20set forth in the redevelopment plan including details on new or
21planned construction within the redevelopment project area,
22(iv) the amount of private and public investment within the
23redevelopment project area, and (v) any other relevant
24evaluation or performance data. Within 30 days after the
25municipality compiles the status report, the municipality must
26hold at least one public hearing concerning the report. The

 

 

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1municipality must provide 20 days' public notice of the
2hearing.
3    (j) Beginning in fiscal year 2011 and in each fiscal year
4thereafter, a municipality must detail in its annual budget (i)
5the revenues generated from redevelopment project areas by
6source and (ii) the expenditures made by the municipality for
7redevelopment project areas.
8(Source: P.A. 98-922, eff. 8-15-14.)
 
9    (65 ILCS 5/11-74.6-22)
10    Sec. 11-74.6-22. Adoption of ordinance; requirements;
11changes.
12    (a) Before adoption of an ordinance proposing the
13designation of a redevelopment planning area or a redevelopment
14project area, or both, or approving a redevelopment plan or
15redevelopment project, the municipality or commission
16designated pursuant to subsection (l) of Section 11-74.6-15
17shall fix by ordinance or resolution a time and place for
18public hearing. Prior to the adoption of the ordinance or
19resolution establishing the time and place for the public
20hearing, the municipality shall make available for public
21inspection a redevelopment plan or a report that provides in
22sufficient detail, the basis for the eligibility of the
23redevelopment project area. The report along with the name of a
24person to contact for further information shall be sent to the
25affected taxing district by certified mail within a reasonable

 

 

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1time following the adoption of the ordinance or resolution
2establishing the time and place for the public hearing.
3    At the public hearing any interested person or affected
4taxing district may file with the municipal clerk written
5objections to the ordinance and may be heard orally on any
6issues that are the subject of the hearing. The municipality
7shall hear and determine all alternate proposals or bids for
8any proposed conveyance, lease, mortgage or other disposition
9of land and all protests and objections at the hearing and the
10hearing may be adjourned to another date without further notice
11other than a motion to be entered upon the minutes fixing the
12time and place of the later hearing. At the public hearing or
13at any time prior to the adoption by the municipality of an
14ordinance approving a redevelopment plan, the municipality may
15make changes in the redevelopment plan. Changes which (1) add
16additional parcels of property to the proposed redevelopment
17project area, (2) substantially affect the general land uses
18proposed in the redevelopment plan, or (3) substantially change
19the nature of or extend the life of the redevelopment project
20shall be made only after the municipality gives notice,
21convenes a joint review board, and conducts a public hearing
22pursuant to the procedures set forth in this Section and in
23Section 11-74.6-25. Changes which do not (1) add additional
24parcels of property to the proposed redevelopment project area,
25(2) substantially affect the general land uses proposed in the
26redevelopment plan, or (3) substantially change the nature of

 

 

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1or extend the life of the redevelopment project may be made
2without further hearing, provided that the municipality shall
3give notice of any such changes by mail to each affected taxing
4district and by publication once in a newspaper of general
5circulation within the affected taxing district. Such notice by
6mail and by publication shall each occur not later than 10 days
7following the adoption by ordinance of such changes.
8    (b) Before adoption of an ordinance proposing the
9designation of a redevelopment planning area or a redevelopment
10project area, or both, or amending the boundaries of an
11existing redevelopment project area or redevelopment planning
12area, or both, the municipality shall convene a joint review
13board to consider the proposal. The board shall consist of a
14representative selected by each taxing district that has
15authority to levy real property taxes on the property within
16the proposed redevelopment project area and that has at least
175% of its total equalized assessed value located within the
18proposed redevelopment project area, a representative selected
19by the municipality and a public member. The public member and
20the board's chairperson shall be selected by a majority of
21other board members.
22    All board members shall be appointed and the first board
23meeting held within 14 days following the notice by the
24municipality to all the taxing districts as required by
25subsection (c) of Section 11-74.6-25. The notice shall also
26advise the taxing bodies represented on the joint review board

 

 

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1of the time and place of the first meeting of the board.
2Additional meetings of the board shall be held upon the call of
3any 2 members. The municipality seeking designation of the
4redevelopment project area may provide administrative support
5to the board.
6    The board shall review the public record, planning
7documents and proposed ordinances approving the redevelopment
8plan and project to be adopted by the municipality. As part of
9its deliberations, the board may hold additional hearings on
10the proposal. A board's recommendation, if any, shall be a
11written recommendation adopted by a majority vote of the board
12and submitted to the municipality within 30 days after the
13board convenes. A board's recommendation shall be binding upon
14the municipality. Failure of the board to submit its
15recommendation on a timely basis shall not be cause to delay
16the public hearing or the process of establishing or amending
17the redevelopment project area. The board's recommendation on
18the proposal shall be based upon the area satisfying the
19applicable eligibility criteria defined in Section 11-74.6-10
20and whether there is a basis for the municipal findings set
21forth in the redevelopment plan as required by this Act. If the
22board does not file a recommendation it shall be presumed that
23the board has found that the redevelopment project area
24satisfies the eligibility criteria.
25    (c) After a municipality has by ordinance approved a
26redevelopment plan and designated a redevelopment planning

 

 

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1area or a redevelopment project area, or both, the plan may be
2amended and additional properties may be added to the
3redevelopment project area only as herein provided. Amendments
4which (1) add additional parcels of property to the proposed
5redevelopment project area, (2) substantially affect the
6general land uses proposed in the redevelopment plan, (3)
7substantially change the nature of the redevelopment project,
8(4) increase the total estimated redevelopment project costs
9set out in the redevelopment plan by more than 5% after
10adjustment for inflation from the date the plan was adopted, or
11(5) add additional redevelopment project costs to the itemized
12list of redevelopment project costs set out in the
13redevelopment plan shall be made only after the municipality
14gives notice, convenes a joint review board, and conducts a
15public hearing pursuant to the procedures set forth in this
16Section and in Section 11-74.6-25. Changes which do not (1) add
17additional parcels of property to the proposed redevelopment
18project area, (2) substantially affect the general land uses
19proposed in the redevelopment plan, (3) substantially change
20the nature of the redevelopment project, (4) increase the total
21estimated redevelopment project cost set out in the
22redevelopment plan by more than 5% after adjustment for
23inflation from the date the plan was adopted, or (5) add
24additional redevelopment project costs to the itemized list of
25redevelopment project costs set out in the redevelopment plan
26may be made without further hearing, provided that the

 

 

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1municipality shall give notice of any such changes by mail to
2each affected taxing district and by publication once in a
3newspaper of general circulation within the affected taxing
4district. Such notice by mail and by publication shall each
5occur not later than 10 days following the adoption by
6ordinance of such changes.
7    (d) After the effective date of this amendatory Act of the
891st General Assembly, a municipality shall submit the
9following information for each redevelopment project area (i)
10to the State Comptroller under Section 8-8-3.5 of the Illinois
11Municipal Code, subject to any extensions or exemptions
12provided at the Comptroller's discretion under that Section,
13and (ii) to all taxing districts overlapping the redevelopment
14project area no later than 180 days after the close of each
15municipal fiscal year or as soon thereafter as the audited
16financial statements become available and, in any case, shall
17be submitted before the annual meeting of the joint review
18board to each of the taxing districts that overlap the
19redevelopment project area:
20        (1) Any amendments to the redevelopment plan, or the
21    redevelopment project area.
22        (1.5) A list of the redevelopment project areas
23    administered by the municipality and, if applicable, the
24    date each redevelopment project area was designated or
25    terminated by the municipality.
26        (2) Audited financial statements of the special tax

 

 

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1    allocation fund once a cumulative total of $100,000 of tax
2    increment revenues has been deposited in the fund.
3        (3) Certification of the Chief Executive Officer of the
4    municipality that the municipality has complied with all of
5    the requirements of this Act during the preceding fiscal
6    year.
7        (4) An opinion of legal counsel that the municipality
8    is in compliance with this Act.
9        (5) An analysis of the special tax allocation fund
10    which sets forth:
11            (A) the balance in the special tax allocation fund
12        at the beginning of the fiscal year;
13            (B) all amounts deposited in the special tax
14        allocation fund by source;
15            (C) an itemized list of all expenditures from the
16        special tax allocation fund by category of permissible
17        redevelopment project cost; and
18            (D) the balance in the special tax allocation fund
19        at the end of the fiscal year including a breakdown of
20        that balance by source and a breakdown of that balance
21        identifying any portion of the balance that is
22        required, pledged, earmarked, or otherwise designated
23        for payment of or securing of obligations and
24        anticipated redevelopment project costs. Any portion
25        of such ending balance that has not been identified or
26        is not identified as being required, pledged,

 

 

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1        earmarked, or otherwise designated for payment of or
2        securing of obligations or anticipated redevelopment
3        project costs shall be designated as surplus as set
4        forth in Section 11-74.6-30 hereof.
5        (6) A description of all property purchased by the
6    municipality within the redevelopment project area
7    including:
8            (A) Street address.
9            (B) Approximate size or description of property.
10            (C) Purchase price.
11            (D) Seller of property.
12        (7) A statement setting forth all activities
13    undertaken in furtherance of the objectives of the
14    redevelopment plan, including:
15            (A) Any project implemented in the preceding
16        fiscal year.
17            (B) A description of the redevelopment activities
18        undertaken.
19            (C) A description of any agreements entered into by
20        the municipality with regard to the disposition or
21        redevelopment of any property within the redevelopment
22        project area.
23            (D) Additional information on the use of all funds
24        received under this Division and steps taken by the
25        municipality to achieve the objectives of the
26        redevelopment plan.

 

 

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1            (E) Information regarding contracts that the
2        municipality's tax increment advisors or consultants
3        have entered into with entities or persons that have
4        received, or are receiving, payments financed by tax
5        increment revenues produced by the same redevelopment
6        project area.
7            (F) Any reports submitted to the municipality by
8        the joint review board.
9            (G) A review of public and, to the extent possible,
10        private investment actually undertaken to date after
11        the effective date of this amendatory Act of the 91st
12        General Assembly and estimated to be undertaken during
13        the following year. This review shall, on a
14        project-by-project basis, set forth the estimated
15        amounts of public and private investment incurred
16        after the effective date of this amendatory Act of the
17        91st General Assembly and provide the ratio of private
18        investment to public investment to the date of the
19        report and as estimated to the completion of the
20        redevelopment project.
21        (8) With regard to any obligations issued by the
22    municipality:
23            (A) copies of any official statements; and
24            (B) an analysis prepared by financial advisor or
25        underwriter setting forth: (i) nature and term of
26        obligation; and (ii) projected debt service including

 

 

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1        required reserves and debt coverage.
2        (9) For special tax allocation funds that have received
3    cumulative deposits of incremental tax revenues of
4    $100,000 or more, a certified audit report reviewing
5    compliance with this Act performed by an independent public
6    accountant certified and licensed by the authority of the
7    State of Illinois. The financial portion of the audit must
8    be conducted in accordance with Standards for Audits of
9    Governmental Organizations, Programs, Activities, and
10    Functions adopted by the Comptroller General of the United
11    States (1981), as amended, or the standards specified by
12    Section 8-8-5 of the Illinois Municipal Auditing Law of the
13    Illinois Municipal Code. The audit report shall contain a
14    letter from the independent certified public accountant
15    indicating compliance or noncompliance with the
16    requirements of subsection (o) of Section 11-74.6-10.
17    (e) The joint review board shall meet annually 180 days
18after the close of the municipal fiscal year or as soon as the
19redevelopment project audit for that fiscal year becomes
20available to review the effectiveness and status of the
21redevelopment project area up to that date.
22(Source: P.A. 97-146, eff. 1-1-12; 98-922, eff. 8-15-14.)
 
23    Section 99. Effective date. This Act takes effect upon
24becoming law.