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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006 SB0082
Introduced 1/26/2005, by Sen. Christine Radogno SYNOPSIS AS INTRODUCED: |
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65 ILCS 5/8-8-4 |
from Ch. 24, par. 8-8-4 |
65 ILCS 5/8-8-8 |
from Ch. 24, par. 8-8-8 |
30 ILCS 805/8.29 new |
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Amends the Illinois Municipal Code. Requires
a reporting municipality to comply with certain procedures and pay certain
compensation to the Comptroller if a tax increment financing
report
is not filed within 6 months after the close of the fiscal year of the
municipality.
Provides that payment for the tax increment financing report shall be ordered
by
the corporate authorities of the municipality out of the municipality's tax
increment
financing
funds, and prohibits a municipality from levying a tax to
meet
the costs of a tax increment financing report. Preempts home rule. Amends the
State Mandates Act to
require implementation without reimbursement by the State. Effective
immediately.
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FISCAL NOTE ACT MAY APPLY |
HOME RULE NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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SB0082 |
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LRB094 05319 BDD 35362 b |
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| AN ACT concerning municipalities.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Municipal Code is amended by |
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| changing
Sections 8-8-4 and 8-8-8 as follows:
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| (65 ILCS 5/8-8-4) (from Ch. 24, par. 8-8-4)
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| Sec. 8-8-4. Overdue reports.
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| (a) In the event (i) the required audit report or annual |
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| or
supplemental
report for
a municipality is not filed
with the |
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| Comptroller in accordance with Section 8-8-3 or Section 8-8-7 ,
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| as applicable,
within 6 months after
the close of the fiscal |
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| year of the municipality or (ii) the Tax Increment
Financing |
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| Report for the municipality required under Section 8-8-3.5 is |
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| not
filed with the Comptroller within the time required under |
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| Section 11-74.4-5 or
11-74.6-22, as applicable , the |
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| Comptroller shall
notify the corporate authorities of that |
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| municipality in writing that the
audit report is due, and may |
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| also grant an extension of time of 60 days,
for the filing of |
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| the audit report. In the event a
the required
audit report
is |
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| not filed within the time specified in such written notice, the
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| Comptroller shall cause any necessary
such audit to be made by |
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| an
accountant or
accountants. In the event the required annual |
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| or supplemental report for a
municipality is not filed within 6 |
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| months after the close of the fiscal
year of the municipality, |
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| the Comptroller shall notify the corporate
authorities of that |
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| municipality in writing that the annual or supplemental
report |
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| is due and may grant an extension in time of 60 days for the |
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| filing
of such annual or supplemental report.
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| (b) In the event the annual or supplemental report or the |
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| Tax Increment
Financing Report is not filed within
the required
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| time , including any extension
extended by the Comptroller, the
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| Comptroller
shall cause such annual
or supplemental report or |