093_HB1445

 
                                     LRB093 07967 MKM 08162 b

 1        AN ACT concerning municipalities.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Illinois  Municipal Code is amended by
 5    changing Section 8-8-3.5 as follows:

 6        (65 ILCS 5/8-8-3.5)
 7        Sec. 8-8-3.5.  Tax Increment financing report; evaluation
 8    task force.
 9        (a)  The reports filed under subsection  (d)  of  Section
10    11-74.4-5  of  the Tax Increment Allocation Redevelopment Act
11    and  the  reports  filed  under  subsection  (d)  of  Section
12    11-74.6-22  of  the  Industrial  Jobs  Recovery  Law  in  the
13    Illinois Municipal Code  must  be  separate  from  any  other
14    annual  report  filed  with the Comptroller.  The Comptroller
15    must, in cooperation with reporting municipalities, create  a
16    format   for   the  reporting  of  information  described  in
17    paragraphs (1.5) and (5) and in subparagraph (G) of paragraph
18    (7) of  subsection  (d)  of  Section  11-74.4-5  of  the  Tax
19    Increment  Allocation  Redevelopment  Act and the information
20    described in paragraphs (1.5) and (5) and in subparagraph (G)
21    of paragraph (7) of subsection (d) of Section  11-74.6-22  of
22    the  Industrial Jobs Recovery Law that facilitates consistent
23    reporting among the reporting municipalities. The Comptroller
24    may allow these reports to be filed  electronically  and  may
25    display the report, or portions of the report, electronically
26    via  the Internet.  All reports filed under this Section must
27    be made available for examination and copying by  the  public
28    at all reasonable times.
29        (b)  There is established the Tax Increment Effectiveness
30    Evaluation  Task  Force  to evaluate the effectiveness of tax
31    increment financing districts in Illinois.   The  Task  Force
 
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 1    shall  consist  of  15  members  as follows:  the Director of
 2    Commerce and Community Affairs or his or  her  designee;  the
 3    State   Comptroller   or  his  or  her  designee;  the  State
 4    Superintendent of Education or his or her designee; 3 members
 5    appointed by the Director of Commerce and  Community  Affairs
 6    who  represent  small  and  large downstate municipalities in
 7    Illinois that have tax  increment  financing  districts;  one
 8    member with experience with tax increment financing appointed
 9    by   each  of  the  following  municipal  organizations:  the
10    Illinois  Municipal  League,  the  Illinois   Tax   Increment
11    Association,  the  Northwest  Municipal  Conference, the West
12    Central Municipal Conference, and the South Suburban  Mayors;
13    one  member representing the City of Chicago appointed by the
14    Mayor of Chicago; 2 members  appointed  by  the  Director  of
15    Commerce  and Community Affairs who are lawyers, planners, or
16    other professionals with extensive experience  with  Illinois
17    tax increment financing programs; and one member appointed by
18    the Director of Revenue.  The members of the Task Force shall
19    serve  without  compensation.   The  Task  Force  shall  meet
20    initially  at  the  call  of  the  Director  of  Commerce and
21    Community Affairs, shall select one member as chairperson  at
22    its initial meeting, and shall thereafter meet at the call of
23    the chairperson.
24        The duties of the Task Force shall include the following:
25             (1)  Study  the  statewide  tax  increment reporting
26        systems of other states.
27             (2)  Based on the study in item (1),  determine  the
28        best  methods  to  use to evaluate the effectiveness of a
29        tax increment financing district.
30             (3)  Assess  the  availability  of  the  information
31        necessary  to  establish  a  system  for  evaluating  the
32        effectiveness of tax increment financing districts.
33             (4)  Determine the methods  that  must  be  used  to
34        collect all relevant needed information.
 
                            -3-      LRB093 07967 MKM 08162 b
 1             (5)  Assess  the  amount of time and money necessary
 2        to establish a system for evaluating the effectiveness of
 3        tax increment financing districts  and  if  it  would  be
 4        appropriate to phase in the system.
 5        The  Task  Force shall prepare and submit a report to the
 6    General Assembly and to the Governor no later than  June  30,
 7    2004  containing its recommendations for the establishment of
 8    a system to  evaluate  the  effectiveness  of  tax  increment
 9    financing districts in Illinois.
10    (Source: P.A. 91-478, eff. 11-1-99; 91-900, eff. 7-6-00.)

11        Section  99.  Effective date.  This Act takes effect upon
12    becoming law.