Full Text of HB2518 103rd General Assembly
HB2518sam001 103RD GENERAL ASSEMBLY | Sen. Ann Gillespie Filed: 5/19/2023
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| 1 | | AMENDMENT TO HOUSE BILL 2518
| 2 | | AMENDMENT NO. ______. Amend House Bill 2518 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Municipal Code is amended by | 5 | | changing Sections 11-74.4-3.5 and 11-74.4-8 as follows:
| 6 | | (65 ILCS 5/11-74.4-3.5)
| 7 | | Sec. 11-74.4-3.5. Completion dates for redevelopment | 8 | | projects. | 9 | | (a) Unless otherwise stated in this Section, the estimated | 10 | | dates of completion
of the redevelopment project and | 11 | | retirement of obligations issued to finance
redevelopment | 12 | | project costs (including refunding bonds under Section | 13 | | 11-74.4-7) may not be
later than December 31 of the year in | 14 | | which the payment to the municipal
treasurer, as provided in | 15 | | subsection (b) of Section 11-74.4-8 of this Act, is to
be made | 16 | | with respect to ad valorem taxes levied in the 23rd
calendar |
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| 1 | | year after the year in which the ordinance approving the
| 2 | | redevelopment project area was adopted if the ordinance was | 3 | | adopted on or after
January 15, 1981. | 4 | | (a-5) If the redevelopment project area is located within | 5 | | a transit facility improvement area established pursuant to | 6 | | Section 11-74.4-3, the estimated dates of completion of the | 7 | | redevelopment project and retirement of obligations issued to | 8 | | finance redevelopment project costs (including refunding bonds | 9 | | under Section 11-74.4-7) may not be later than December 31 of | 10 | | the year in which the payment to the municipal treasurer, as | 11 | | provided in subsection (b) of Section 11-74.4-8 of this Act, | 12 | | is to be made with respect to ad valorem taxes levied in the | 13 | | 35th calendar year after the year in which the ordinance | 14 | | approving the redevelopment project area was adopted. | 15 | | (a-7) A municipality may adopt tax increment financing for | 16 | | a redevelopment project area located in a transit facility | 17 | | improvement area that also includes real property located | 18 | | within an existing redevelopment project area established | 19 | | prior to August 12, 2016 (the effective date of Public Act | 20 | | 99-792). In such case: (i) the provisions of this Division | 21 | | shall apply with respect to the previously established | 22 | | redevelopment project area until the municipality adopts, as | 23 | | required in accordance with applicable provisions of this | 24 | | Division, an ordinance dissolving the special tax allocation | 25 | | fund for such redevelopment project area and terminating the | 26 | | designation of such redevelopment project area as a |
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| 1 | | redevelopment project area; and (ii) after the effective date | 2 | | of the ordinance described in (i), the provisions of this | 3 | | Division shall apply with respect to the subsequently | 4 | | established redevelopment project area located in a transit | 5 | | facility improvement area. | 6 | | (b) The estimated dates of completion of the redevelopment | 7 | | project and retirement of obligations issued to finance | 8 | | redevelopment project costs (including refunding bonds under | 9 | | Section 11-74.4-7) may not be later than December 31 of the | 10 | | year in which the payment to the municipal treasurer as | 11 | | provided in subsection (b) of Section 11-74.4-8 of this Act is | 12 | | to be made with respect to ad valorem taxes levied in the 32nd | 13 | | calendar year after the year in which the ordinance approving | 14 | | the redevelopment project area was adopted if the ordinance | 15 | | was adopted on September 9, 1999 by the Village of Downs. | 16 | | The estimated dates of completion
of the redevelopment | 17 | | project and retirement of obligations issued to finance
| 18 | | redevelopment project costs (including refunding bonds under | 19 | | Section 11-74.4-7) may not be later than December 31 of the | 20 | | year in which the payment to the municipal
treasurer as | 21 | | provided in subsection (b) of Section 11-74.4-8 of this Act is | 22 | | to
be made with respect to ad valorem taxes levied in the 33rd | 23 | | calendar
year after the year in which the ordinance approving | 24 | | the
redevelopment project area was adopted if the ordinance | 25 | | was adopted on May 20, 1985 by the Village of Wheeling. | 26 | | The estimated dates of completion of the redevelopment |
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| 1 | | project and retirement of obligations issued to finance | 2 | | redevelopment project costs (including refunding bonds under | 3 | | Section 11-74.4-7) may not be later than December 31 of the | 4 | | year in which the payment to the municipal treasurer as | 5 | | provided in subsection (b) of Section 11-74.4-8 of this Act is | 6 | | to be made with respect to ad valorem taxes levied in the 28th | 7 | | calendar year after the year in which the ordinance approving | 8 | | the redevelopment project area was adopted if the ordinance | 9 | | was adopted on October 12, 1989 by the City of Lawrenceville. | 10 | | (c) The estimated dates of completion
of the redevelopment | 11 | | project and retirement of obligations issued to finance
| 12 | | redevelopment project costs (including refunding bonds under | 13 | | Section 11-74.4-7) may not be later than December 31 of the | 14 | | year in which the payment to the municipal
treasurer as | 15 | | provided in subsection (b) of Section 11-74.4-8 of this Act is | 16 | | to
be made with respect to ad valorem taxes levied in the 35th | 17 | | calendar
year after the year in which the ordinance approving | 18 | | the
redevelopment project area was adopted: | 19 | | (1) If the ordinance was adopted before January 15, | 20 | | 1981. | 21 | | (2) If the ordinance was adopted in December 1983, | 22 | | April 1984, July 1985,
or December 1989. | 23 | | (3) If the ordinance was adopted in December 1987 and | 24 | | the redevelopment
project is located within one mile of | 25 | | Midway Airport. | 26 | | (4) If the ordinance was adopted before January 1, |
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| 1 | | 1987 by a municipality in
Mason County. | 2 | | (5) If the municipality is subject to the Local | 3 | | Government Financial Planning
and Supervision Act or the | 4 | | Financially Distressed City Law. | 5 | | (6) If the ordinance was adopted in December 1984 by | 6 | | the Village of Rosemont. | 7 | | (7) If the ordinance was adopted on December 31, 1986 | 8 | | by a municipality
located in Clinton County for which at | 9 | | least $250,000 of tax increment
bonds were authorized on | 10 | | June 17, 1997, or if the ordinance was adopted on
December | 11 | | 31, 1986 by a municipality with a population in 1990 of | 12 | | less than
3,600 that is located in a county with a | 13 | | population in 1990 of less than
34,000 and for which at | 14 | | least $250,000 of tax increment bonds were authorized
on | 15 | | June 17, 1997. | 16 | | (8) If the ordinance was adopted on October 5, 1982 by | 17 | | the City of Kankakee, or if the ordinance was adopted on | 18 | | December 29, 1986 by East St. Louis. | 19 | | (9) If
the ordinance was adopted on November 12, 1991 | 20 | | by the Village of Sauget. | 21 | | (10) If the ordinance was
adopted on February 11, 1985 | 22 | | by the City of Rock Island. | 23 | | (11) If the ordinance was adopted before December 18, | 24 | | 1986 by the City of
Moline. | 25 | | (12) If the ordinance was adopted in September 1988 by | 26 | | Sauk Village. |
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| 1 | | (13) If the ordinance was adopted in October 1993 by | 2 | | Sauk Village. | 3 | | (14) If the ordinance was adopted on December 29, 1986 | 4 | | by the City of Galva. | 5 | | (15) If the ordinance was adopted in March 1991 by the | 6 | | City of Centreville. | 7 | | (16) If the ordinance was adopted on January 23, 1991
| 8 | | by the City of East St. Louis. | 9 | | (17) If the ordinance was adopted on December 22, 1986 | 10 | | by the City of Aledo. | 11 | | (18) If the ordinance was adopted on February 5, 1990 | 12 | | by the City of Clinton. | 13 | | (19) If the ordinance was adopted on September 6, 1994 | 14 | | by the City of Freeport. | 15 | | (20) If the ordinance was adopted on December 22, 1986 | 16 | | by the City of Tuscola. | 17 | | (21) If the ordinance was adopted on December 23, 1986 | 18 | | by the City of Sparta. | 19 | | (22) If the ordinance was adopted on December 23, 1986 | 20 | | by the City of
Beardstown. | 21 | | (23) If the ordinance was adopted on April 27, 1981, | 22 | | October 21, 1985, or
December 30, 1986 by the City of | 23 | | Belleville. | 24 | | (24) If the ordinance was adopted on December 29, 1986 | 25 | | by the City of
Collinsville. | 26 | | (25) If the ordinance was adopted on September 14, |
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| 1 | | 1994 by the
City of Alton. | 2 | | (26) If the ordinance was adopted on November 11, 1996 | 3 | | by the
City of Lexington. | 4 | | (27) If the ordinance was adopted on November 5, 1984 | 5 | | by
the City of LeRoy. | 6 | | (28) If the ordinance was adopted on April 3, 1991 or
| 7 | | June 3, 1992 by the City of Markham. | 8 | | (29) If the ordinance was adopted on November 11, 1986 | 9 | | by the City of Pekin. | 10 | | (30) If the ordinance was adopted on December 15, 1981 | 11 | | by the City of Champaign. | 12 | | (31) If the ordinance was adopted on December 15, 1986 | 13 | | by the City of Urbana. | 14 | | (32) If the ordinance was adopted on December 15, 1986 | 15 | | by the Village of Heyworth. | 16 | | (33) If the ordinance was adopted on February 24, 1992 | 17 | | by the Village of Heyworth. | 18 | | (34) If the ordinance was adopted on March 16, 1995 by | 19 | | the Village of Heyworth. | 20 | | (35) If the ordinance was adopted on December 23, 1986 | 21 | | by the Town of Cicero. | 22 | | (36) If the ordinance was adopted on December 30, 1986 | 23 | | by the City of Effingham. | 24 | | (37) If the ordinance was adopted on May 9, 1991 by the | 25 | | Village of
Tilton. | 26 | | (38) If the ordinance was adopted on October 20, 1986 |
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| 1 | | by the City of Elmhurst. | 2 | | (39) If the ordinance was adopted on January 19, 1988 | 3 | | by the City of
Waukegan. | 4 | | (40) If the ordinance was adopted on September 21, | 5 | | 1998 by the City of
Waukegan. | 6 | | (41) If the ordinance was adopted on December 31, 1986 | 7 | | by the City of Sullivan. | 8 | | (42) If the ordinance was adopted on December 23, 1991 | 9 | | by the City of Sullivan. | 10 | | (43) If the ordinance was adopted on December 31, 1986 | 11 | | by the City of Oglesby. | 12 | | (44) If the ordinance was adopted on July 28, 1987 by | 13 | | the City of Marion. | 14 | | (45) If the ordinance was adopted on April 23, 1990 by | 15 | | the City of Marion. | 16 | | (46) If the ordinance was adopted on August 20, 1985 | 17 | | by the Village of Mount Prospect. | 18 | | (47) If the ordinance was adopted on February 2, 1998 | 19 | | by the Village of Woodhull. | 20 | | (48) If the ordinance was adopted on April 20, 1993 by | 21 | | the Village of Princeville. | 22 | | (49) If the ordinance was adopted on July 1, 1986 by | 23 | | the City of Granite City. | 24 | | (50) If the ordinance was adopted on February 2, 1989 | 25 | | by the Village of Lombard. | 26 | | (51) If the ordinance was adopted on December 29, 1986 |
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| 1 | | by the Village of Gardner. | 2 | | (52) If the ordinance was adopted on July 14, 1999 by | 3 | | the Village of Paw Paw. | 4 | | (53) If the ordinance was adopted on November 17, 1986 | 5 | | by the Village of Franklin Park. | 6 | | (54) If the ordinance was adopted on November 20, 1989 | 7 | | by the Village of South Holland. | 8 | | (55) If the ordinance was adopted on July 14, 1992 by | 9 | | the Village of Riverdale. | 10 | | (56) If the ordinance was adopted on December 29, 1986 | 11 | | by the City of Galesburg. | 12 | | (57) If the ordinance was adopted on April 1, 1985 by | 13 | | the City of Galesburg. | 14 | | (58) If the ordinance was adopted on May 21, 1990 by | 15 | | the City of West Chicago. | 16 | | (59) If the ordinance was adopted on December 16, 1986 | 17 | | by the City of Oak Forest. | 18 | | (60) If the ordinance was adopted in 1999 by the City | 19 | | of Villa Grove. | 20 | | (61) If the ordinance was adopted on January 13, 1987 | 21 | | by the Village of Mt. Zion. | 22 | | (62) If the ordinance was adopted on December 30, 1986 | 23 | | by the Village of Manteno. | 24 | | (63) If the ordinance was adopted on April 3, 1989 by | 25 | | the City of Chicago Heights. | 26 | | (64) If the ordinance was adopted on January 6, 1999 |
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| 1 | | by the Village of Rosemont. | 2 | | (65) If the ordinance was adopted on December 19, 2000 | 3 | | by the Village of Stone Park. | 4 | | (66) If the ordinance was adopted on December 22, 1986 | 5 | | by the City of DeKalb. | 6 | | (67) If the ordinance was adopted on December 2, 1986 | 7 | | by the City of Aurora.
| 8 | | (68) If the ordinance was adopted on December 31, 1986 | 9 | | by the Village of Milan. | 10 | | (69) If the ordinance was adopted on September 8, 1994 | 11 | | by the City of West Frankfort. | 12 | | (70) If the ordinance was adopted on December 23, 1986 | 13 | | by the Village of Libertyville. | 14 | | (71) If the ordinance was adopted on December 22, 1986 | 15 | | by the Village of Hoffman Estates.
| 16 | | (72) If the ordinance was adopted on September 17, | 17 | | 1986 by the Village of Sherman.
| 18 | | (73) If the ordinance was adopted on December 16, 1986 | 19 | | by the City of Macomb. | 20 | | (74) If the ordinance was adopted on June 11, 2002 by | 21 | | the City of East Peoria to create the West Washington | 22 | | Street TIF. | 23 | | (75) If the ordinance was adopted on June 11, 2002 by | 24 | | the City of East Peoria to create the Camp Street TIF.
| 25 | | (76) If the ordinance was adopted on August 7, 2000 by | 26 | | the City of Des Plaines. |
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| 1 | | (77) If the ordinance was adopted on December 22, 1986 | 2 | | by the City of Washington to create the Washington Square | 3 | | TIF #2. | 4 | | (78) If the ordinance was adopted on December 29, 1986 | 5 | | by the City of Morris.
| 6 | | (79) If the ordinance was adopted on July 6, 1998 by | 7 | | the Village of Steeleville. | 8 | | (80) If the ordinance was adopted on December 29, 1986 | 9 | | by the City of Pontiac to create TIF I (the Main St TIF). | 10 | | (81) If the ordinance was adopted on December 29, 1986 | 11 | | by the City of Pontiac to create TIF II (the Interstate | 12 | | TIF). | 13 | | (82) If the ordinance was adopted on November 6, 2002 | 14 | | by the City of Chicago to create the Madden/Wells TIF | 15 | | District. | 16 | | (83) If the ordinance was adopted on November 4, 1998 | 17 | | by the City of Chicago to create the Roosevelt/Racine TIF | 18 | | District. | 19 | | (84) If the ordinance was adopted on June 10, 1998 by | 20 | | the City of Chicago to create the Stony Island | 21 | | Commercial/Burnside Industrial Corridors TIF District. | 22 | | (85) If the ordinance was adopted on November 29, 1989 | 23 | | by the City of Chicago to create the Englewood Mall TIF | 24 | | District. | 25 | | (86) If the ordinance was adopted on December 27, 1986 | 26 | | by the City of Mendota. |
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| 1 | | (87) If the ordinance was adopted on December 31, 1986 | 2 | | by the Village of Cahokia. | 3 | | (88) If the ordinance was adopted on September 20, | 4 | | 1999 by the City of Belleville. | 5 | | (89) If the ordinance was adopted on December 30, 1986 | 6 | | by the Village of Bellevue to create the Bellevue TIF | 7 | | District 1. | 8 | | (90) If the ordinance was adopted on December 13, 1993 | 9 | | by the Village of Crete. | 10 | | (91) If the ordinance was adopted on February 12, 2001 | 11 | | by the Village of Crete. | 12 | | (92) If the ordinance was adopted on April 23, 2001 by | 13 | | the Village of Crete. | 14 | | (93) If the ordinance was adopted on December 16, 1986 | 15 | | by the City of Champaign. | 16 | | (94) If the ordinance was adopted on December 20, 1986 | 17 | | by the City of Charleston. | 18 | | (95) If the ordinance was adopted on June 6, 1989 by | 19 | | the Village of Romeoville. | 20 | | (96) If the ordinance was adopted on October 14, 1993 | 21 | | and amended on August 2, 2010 by the City of Venice. | 22 | | (97) If the ordinance was adopted on June 1, 1994 by | 23 | | the City of Markham. | 24 | | (98) If the ordinance was adopted on May 19, 1998 by | 25 | | the Village of Bensenville. | 26 | | (99) If the ordinance was adopted on November 12, 1987 |
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| 1 | | by the City of Dixon. | 2 | | (100) If the ordinance was adopted on December 20, | 3 | | 1988 by the Village of Lansing. | 4 | | (101) If the ordinance was adopted on October 27, 1998 | 5 | | by the City of Moline. | 6 | | (102) If the ordinance was adopted on May 21, 1991 by | 7 | | the Village of Glenwood. | 8 | | (103) If the ordinance was adopted on January 28, 1992 | 9 | | by the City of East Peoria. | 10 | | (104) If the ordinance was adopted on December 14, | 11 | | 1998 by the City of Carlyle. | 12 | | (105) If the ordinance was adopted on May 17, 2000, as | 13 | | subsequently amended, by the City of Chicago to create the | 14 | | Midwest Redevelopment TIF District. | 15 | | (106) If the ordinance was adopted on September 13, | 16 | | 1989 by the City of Chicago to create the Michigan/Cermak | 17 | | Area TIF District. | 18 | | (107) If the ordinance was adopted on March 30, 1992 | 19 | | by the Village of Ohio. | 20 | | (108) If the ordinance was adopted on July 6, 1998 by | 21 | | the Village of Orangeville. | 22 | | (109) If the ordinance was adopted on December 16, | 23 | | 1997 by the Village of Germantown. | 24 | | (110) If the ordinance was adopted on April 28, 2003 | 25 | | by Gibson City. | 26 | | (111) If the ordinance was adopted on December 18, |
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| 1 | | 1990 by the Village of Washington Park, but only after the | 2 | | Village of Washington Park becomes compliant with the | 3 | | reporting requirements under subsection (d) of Section | 4 | | 11-74.4-5, and after the State Comptroller's certification | 5 | | of such compliance. | 6 | | (112) If the ordinance was adopted on February 28, | 7 | | 2000 by the City of Harvey. | 8 | | (113) If the ordinance was adopted on January 11, 1991 | 9 | | by the City of Chicago to create the Read/Dunning TIF | 10 | | District. | 11 | | (114) If the ordinance was adopted on July 24, 1991 by | 12 | | the City of Chicago to create the Sanitary and Ship Canal | 13 | | TIF District. | 14 | | (115) If the ordinance was adopted on December 4, 2007 | 15 | | by the City of Naperville. | 16 | | (116) If the ordinance was adopted on July 1, 2002 by | 17 | | the Village of Arlington Heights. | 18 | | (117) If the ordinance was adopted on February 11, | 19 | | 1991 by the Village of Machesney Park. | 20 | | (118) If the ordinance was adopted on December 29, | 21 | | 1993 by the City of Ottawa. | 22 | | (119) If the ordinance was adopted on June 4, 1991 by | 23 | | the Village of Lansing. | 24 | | (120) If the ordinance was adopted on February 10, | 25 | | 2004 by the Village of Fox Lake. | 26 | | (121) If the ordinance was adopted on December 22, |
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| 1 | | 1992 by the City of Fairfield. | 2 | | (122) If the ordinance was adopted on February 10, | 3 | | 1992 by the City of Mt. Sterling. | 4 | | (123) If the ordinance was adopted on March 15, 2004 | 5 | | by the City of Batavia. | 6 | | (124) If the ordinance was adopted on March 18, 2002 | 7 | | by the Village of Lake Zurich. | 8 | | (125) If the ordinance was adopted on September 23, | 9 | | 1997 by the City of Granite City. | 10 | | (126) If the ordinance was adopted on May 8, 2013 by | 11 | | the Village of Rosemont to create the Higgins Road/River | 12 | | Road TIF District No. 6. | 13 | | (127) If the ordinance was adopted on November 22, | 14 | | 1993 by the City of Arcola. | 15 | | (128) If the ordinance was adopted on September 7, | 16 | | 2004 by the City of Arcola. | 17 | | (129) If the ordinance was adopted on November 29, | 18 | | 1999 by the City of Paris. | 19 | | (130) If the ordinance was adopted on September 20, | 20 | | 1994 by the City of Ottawa to create the U.S. Route 6 East | 21 | | Ottawa TIF. | 22 | | (131) If the ordinance was adopted on May 2, 2002 by | 23 | | the Village of Crestwood. | 24 | | (132) If the ordinance was adopted on October 27, 1992 | 25 | | by the City of Blue Island. | 26 | | (133) If the ordinance was adopted on December 23, |
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| 1 | | 1993 by the City of Lacon. | 2 | | (134) If the ordinance was adopted on May 4, 1998 by | 3 | | the Village of Bradford. | 4 | | (135) If the ordinance was adopted on June 11, 2002 by | 5 | | the City of Oak Forest. | 6 | | (136) If the ordinance was adopted on November 16, | 7 | | 1992 by the City of Pinckneyville. | 8 | | (137) If the ordinance was adopted on March 1, 2001 by | 9 | | the Village of South Jacksonville. | 10 | | (138) If the ordinance was adopted on February 26, | 11 | | 1992 by the City of Chicago to create the Stockyards | 12 | | Southeast Quadrant TIF District. | 13 | | (139) If the ordinance was adopted on January 25, 1993 | 14 | | by the City of LaSalle. | 15 | | (140) If the ordinance was adopted on December 23, | 16 | | 1997 by the Village of Dieterich. | 17 | | (141) If the ordinance was adopted on February 10, | 18 | | 2016 by the Village of Rosemont to create the | 19 | | Balmoral/Pearl TIF No. 8 Tax Increment Financing | 20 | | Redevelopment Project Area. | 21 | | (142) If the ordinance was adopted on June 11, 2002 by | 22 | | the City of Oak Forest. | 23 | | (143) If the ordinance was adopted on January 31, 1995 | 24 | | by the Village of Milledgeville. | 25 | | (144) If the ordinance was adopted on February 5, 1996 | 26 | | by the Village of Pearl City. |
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| 1 | | (145) If the ordinance was adopted on December 21, | 2 | | 1994 by the City of Calumet City. | 3 | | (146) If the ordinance was adopted on May 5, 2003 by | 4 | | the Town of Normal. | 5 | | (147) If the ordinance was adopted on June 2, 1998 by | 6 | | the City of Litchfield. | 7 | | (148) If the ordinance was adopted on October 23, 1995 | 8 | | by the City of Marion. | 9 | | (149) If the ordinance was adopted on May 24, 2001 by | 10 | | the Village of Hanover Park. | 11 | | (150) If the ordinance was adopted on May 30, 1995 by | 12 | | the Village of Dalzell. | 13 | | (151) If the ordinance was adopted on April 15, 1997 | 14 | | by the City of Edwardsville. | 15 | | (152) If the ordinance was adopted on September 5, | 16 | | 1995 by the City of Granite City. | 17 | | (153) If the ordinance was adopted on June 21, 1999 by | 18 | | the Village of Table Grove. | 19 | | (154) If the ordinance was adopted on February 23, | 20 | | 1995 by the City of Springfield. | 21 | | (155) If the ordinance was adopted on August 11, 1999 | 22 | | by the City of Monmouth. | 23 | | (156) If the ordinance was adopted on December 26, | 24 | | 1995 by the Village of Posen. | 25 | | (157) If the ordinance was adopted on July 1, 1995 by | 26 | | the Village of Caseyville. |
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| 1 | | (158) If the ordinance was adopted on January 30, 1996 | 2 | | by the City of Madison. | 3 | | (159) If the ordinance was adopted on February 2, 1996 | 4 | | by the Village of Hartford. | 5 | | (160) If the ordinance was adopted on July 2, 1996 by | 6 | | the Village of Manlius. | 7 | | (161) If the ordinance was adopted on March 21, 2000 | 8 | | by the City of Hoopeston. | 9 | | (162) If the ordinance was adopted on March 22, 2005 | 10 | | by the City of Hoopeston. | 11 | | (163) If the ordinance was adopted on July 10, 1996 by | 12 | | the City of Chicago to create the Goose Island TIF | 13 | | District. | 14 | | (164) If the ordinance was adopted on December 11, | 15 | | 1996 by the City of Chicago to create the Bryn | 16 | | Mawr/Broadway TIF District. | 17 | | (165) If the ordinance was adopted on December 31, | 18 | | 1995 by the City of Chicago to create the 95th/Western TIF | 19 | | District. | 20 | | (166) If the ordinance was adopted on October 7, 1998 | 21 | | by the City of Chicago to create the 71st and Stony Island | 22 | | TIF District. | 23 | | (167) If the ordinance was adopted on April 19, 1995 | 24 | | by the Village of North Utica. | 25 | | (168) If the ordinance was adopted on April 22, 1996 | 26 | | by the City of LaSalle. |
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| 1 | | (169) If the ordinance was adopted on June 9, 2008 by | 2 | | the City of Country Club Hills. | 3 | | (170) If the ordinance was adopted on July 3, 1996 by | 4 | | the Village of Phoenix. | 5 | | (171) If the ordinance was adopted on May 19, 1997 by | 6 | | the Village of Swansea. | 7 | | (172) If the ordinance was adopted on August 13, 2001 | 8 | | by the Village of Saunemin. | 9 | | (173) If the ordinance was adopted on January 10, 2005 | 10 | | by the Village of Romeoville. | 11 | | (174) If the ordinance was adopted on January 28, 1997 | 12 | | by the City of Berwyn for the South Berwyn Corridor Tax | 13 | | Increment Financing District. | 14 | | (175) If the ordinance was adopted on January 28, 1997 | 15 | | by the City of Berwyn for the Roosevelt Road Tax Increment | 16 | | Financing District. | 17 | | (176) If the ordinance was adopted on May 3, 2001 by | 18 | | the Village of Hanover Park for the Village Center Tax | 19 | | Increment Financing Redevelopment Project Area (TIF # 3). | 20 | | (177) If the ordinance was adopted on January 1, 1996 | 21 | | by the City of Savanna. | 22 | | (178) If the ordinance was adopted on January 28, 2002 | 23 | | by the Village of Okawville. | 24 | | (179) If the ordinance was adopted on October 4, 1999 | 25 | | by the City of Vandalia. | 26 | | (180) If the ordinance was adopted on June 16, 2003 by |
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| 1 | | the City of Rushville. | 2 | | (181) If the ordinance was adopted on December 7, 1998 | 3 | | by the City of Quincy for the Central Business District | 4 | | West Tax Increment Redevelopment Project Area. | 5 | | (182) If the ordinance was adopted on March 27, 1997 | 6 | | by the Village of Maywood approving the Roosevelt Road TIF | 7 | | District. | 8 | | (183) If the ordinance was adopted on March 27, 1997 | 9 | | by the Village of Maywood approving the Madison | 10 | | Street/Fifth Avenue TIF District. | 11 | | (184) If the ordinance was adopted on November 10, | 12 | | 1997 by the Village of Park Forest. | 13 | | (185) If the ordinance was adopted on July 30, 1997 by | 14 | | the City of Chicago to create the Near North TIF district. | 15 | | (186) If the ordinance was adopted on December 1, 2000 | 16 | | by the Village of Mahomet. | 17 | | (187) If the ordinance was adopted on June 16, 1999 by | 18 | | the Village of Washburn. | 19 | | (188) If the ordinance was adopted on August 19, 1998 | 20 | | by the Village of New Berlin. | 21 | | (189) If the ordinance was adopted on February 5, 2002 | 22 | | by the City of Highwood. | 23 | | (190) If the ordinance was adopted on June 1, 1997 by | 24 | | the City of Flora. | 25 | | (191) If the ordinance was adopted on August 17, 1999 | 26 | | by the City of Ottawa. |
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| 1 | | (192) If the ordinance was adopted on June 13, 2005 by | 2 | | the City of Mount Carroll. | 3 | | (193) If the ordinance was adopted on March 25, 2008 | 4 | | by the Village of Elizabeth. | 5 | | (194) If the ordinance was adopted on February 22, | 6 | | 2000 by the City of Mount Pulaski. | 7 | | (195) If the ordinance was adopted on November 21, | 8 | | 2000 by the City of Effingham. | 9 | | (196) If the ordinance was adopted on January 28, 2003 | 10 | | by the City of Effingham. | 11 | | (197) If the ordinance was adopted on February 4, 2008 | 12 | | by the City of Polo. | 13 | | (198) If the ordinance was adopted on August 17, 2005 | 14 | | by the Village of Bellwood to create the Park Place TIF. | 15 | | (199) If the ordinance was adopted on July 16, 2014 by | 16 | | the Village of Bellwood to create the North-2014 TIF. | 17 | | (200) If the ordinance was adopted on July 16, 2014 by | 18 | | the Village of Bellwood to create the South-2014 TIF. | 19 | | (201) If the ordinance was adopted on July 16, 2014 by | 20 | | the Village of Bellwood to create the Central Metro-2014 | 21 | | TIF. | 22 | | (202) If the ordinance was adopted on September 17, | 23 | | 2014 by the Village of Bellwood to create the Addison | 24 | | Creek "A" (Southwest)-2014 TIF. | 25 | | (203) If the ordinance was adopted on September 17, | 26 | | 2014 by the Village of Bellwood to create the Addison |
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| 1 | | Creek "B" (Northwest)-2014 TIF. | 2 | | (204) If the ordinance was adopted on September 17, | 3 | | 2014 by the Village of Bellwood to create the Addison | 4 | | Creek "C" (Northeast)-2014 TIF. | 5 | | (205) If the ordinance was adopted on September 17, | 6 | | 2014 by the Village of Bellwood to create the Addison | 7 | | Creek "D" (Southeast)-2014 TIF. | 8 | | (206) If the ordinance was adopted on June 26, 2007 by | 9 | | the City of Peoria. | 10 | | (207) If the ordinance was adopted on October 28, 2008 | 11 | | by the City of Peoria. | 12 | | (208) If the ordinance was adopted on April 4, 2000 by | 13 | | the City of Joliet to create the Joliet City Center TIF | 14 | | District. | 15 | | (209) If the ordinance was adopted on July 8, 1998 by | 16 | | the City of Chicago to create the 43rd/Cottage Grove TIF | 17 | | district. | 18 | | (210) If the ordinance was adopted on July 8, 1998 by | 19 | | the City of Chicago to create the 79th Street Corridor TIF | 20 | | district. | 21 | | (211) If the ordinance was adopted on November 4, 1998 | 22 | | by the City of Chicago to create the Bronzeville TIF | 23 | | district. | 24 | | (212) If the ordinance was adopted on February 5, 1998 | 25 | | by the City of Chicago to create the Homan/Arthington TIF | 26 | | district. |
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| 1 | | (213) If the ordinance was adopted on December 8, 1998 | 2 | | by the Village of Plainfield. | 3 | | (214) If the ordinance was adopted on July 17, 2000 by | 4 | | the Village of Homer. | 5 | | (215) If the ordinance was adopted on December 27, | 6 | | 2006 by the City of Greenville. | 7 | | (216) If the ordinance was adopted on June 10, 1998 by | 8 | | the City of Chicago to create the Kinzie Industrial TIF | 9 | | district. | 10 | | (217) If the ordinance was adopted on December 2, 1998 | 11 | | by the City of Chicago to create the Northwest Industrial | 12 | | TIF district. | 13 | | (218) If the ordinance was adopted on June 10, 1998 by | 14 | | the City of Chicago to create the Pilsen Industrial TIF | 15 | | district. | 16 | | (219) If the ordinance was adopted on January 14, 1997 | 17 | | by the City of Chicago to create the 35th/Halsted TIF | 18 | | district. | 19 | | (220) If the ordinance was adopted on June 9, 1999 by | 20 | | the City of Chicago to create the Pulaski Corridor TIF | 21 | | district. | 22 | | (221) If the ordinance was adopted on December 16, | 23 | | 1997 by the City of Springfield to create the Enos Park | 24 | | Neighborhood TIF District. | 25 | | (222) If the ordinance was adopted on February 5, 1998 | 26 | | by the City of Chicago to create the Roosevelt/Cicero |
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| 1 | | redevelopment project area. | 2 | | (223) If the ordinance was adopted on February 5, 1998 | 3 | | by the City of Chicago to create the Western/Ogden | 4 | | redevelopment project area. | 5 | | (224) If the ordinance was adopted on July 21, 1999 by | 6 | | the City of Chicago to create the 24th/Michigan Avenue | 7 | | redevelopment project area. | 8 | | (225) If the ordinance was adopted on January 20, 1999 | 9 | | by the City of Chicago to create the Woodlawn | 10 | | redevelopment project area. | 11 | | (226) If the ordinance was adopted on July 7, 1999 by | 12 | | the City of Chicago to create the Clark/Montrose | 13 | | redevelopment project area. | 14 | | (227) If the ordinance was adopted on November 4, 2003 | 15 | | by the City of Madison to create the Rivers Edge | 16 | | redevelopment project area. | 17 | | (228) If the ordinance was adopted on August 12, 2003 | 18 | | by the City of Madison to create the Caine Street | 19 | | redevelopment project area. | 20 | | (229) If the ordinance was adopted on March 7, 2000 by | 21 | | the City of Madison to create the East Madison TIF. | 22 | | (230) If the ordinance was adopted on August 3, 2001 | 23 | | by the Village of Aviston. | 24 | | (231) If the ordinance was adopted on August 22, 2011 | 25 | | by the Village of Warren. | 26 | | (232) If the ordinance was adopted on April 8, 1999 by |
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| 1 | | the City of Farmer City. | 2 | | (233) If the ordinance was adopted on August 4, 1999 | 3 | | by the Village of Fairmont City. | 4 | | (234) If the ordinance was adopted on October 2, 1999 | 5 | | by the Village of Fairmont City. | 6 | | (235) If the ordinance was adopted December 16, 1999 | 7 | | by the City of Springfield. | 8 | | (236) If the ordinance was adopted on December 13, | 9 | | 1999 by the Village of Palatine to create the Village of | 10 | | Palatine Downtown Area TIF District. | 11 | | (237) If the ordinance was adopted on September 29, | 12 | | 1999 by the City of Chicago to create the 111th/Kedzie | 13 | | redevelopment project area. | 14 | | (238) If the ordinance was adopted on November 12, | 15 | | 1998 by the City of Chicago to create the Canal/Congress | 16 | | redevelopment project area. | 17 | | (239) If the ordinance was adopted on July 7, 1999 by | 18 | | the City of Chicago to create the Galewood/Armitage | 19 | | Industrial redevelopment project area. | 20 | | (240) If the ordinance was adopted on September 29, | 21 | | 1999 by the City of Chicago to create the Madison/Austin | 22 | | Corridor redevelopment project area. | 23 | | (241) If the ordinance was adopted on April 12, 2000 | 24 | | by the City of Chicago to create the South Chicago | 25 | | redevelopment project area. | 26 | | (242) If the ordinance was adopted on January 9, 2002 |
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| 1 | | by the Village of Elkhart. | 2 | | (243) If the ordinance was adopted on May 23, 2000 by | 3 | | the City of Robinson to create the West Robinson | 4 | | Industrial redevelopment project area. | 5 | | (244) If the ordinance was adopted on October 9, 2001 | 6 | | by the City of Robinson to create the Downtown Robinson | 7 | | redevelopment project area. | 8 | | (245) If the ordinance was adopted on September 19, | 9 | | 2000 by the Village of Valmeyer. | 10 | | (246) If the ordinance was adopted on April 15, 2002 | 11 | | by the City of McHenry to create the Downtown TIF | 12 | | district. | 13 | | (247) If the ordinance was adopted on February 15, | 14 | | 1999 by the Village of Channahon. | 15 | | (248) If the ordinance was adopted on December 19, | 16 | | 2000 by the City of Peoria. | 17 | | (249) If the ordinance was adopted on July 24, 2000 by | 18 | | the City of Rock Island to create the North 11th Street | 19 | | redevelopment project area. | 20 | | (250) If the ordinance was adopted on February 5, 2002 | 21 | | by the City of Champaign to create the North Campustown | 22 | | TIF. | 23 | | (251) If the ordinance was adopted on November 20, | 24 | | 2000 by the Village of Evergreen Park. | 25 | | After the effective date of this amendatory Act of the | 26 | | 103rd General Assembly, before the estimated dates of |
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| 1 | | completion of a redevelopment project and retirement of | 2 | | obligations issued to finance development project costs | 3 | | (including refunding bonds under Section 11-74.4-7) may be | 4 | | extended under this subsection, the Governor, President of the | 5 | | Senate, and Speaker of the House of Representatives must | 6 | | receive written support for the extension of the estimated | 7 | | dates of completion from each school district and community | 8 | | college district that has the authority to directly levy taxes | 9 | | on property within the redevelopment project area. | 10 | | (d) For redevelopment project areas for which bonds were | 11 | | issued before
July 29, 1991, or for which contracts were | 12 | | entered into before June 1,
1988, in connection with a | 13 | | redevelopment project in the area within
the State Sales Tax | 14 | | Boundary, the estimated dates of completion of the
| 15 | | redevelopment project and retirement of obligations to finance | 16 | | redevelopment
project costs (including refunding bonds under | 17 | | Section 11-74.4-7) may be extended by municipal ordinance to | 18 | | December 31, 2013.
The termination procedures of subsection | 19 | | (b) of Section 11-74.4-8 are not
required for
these | 20 | | redevelopment project areas in 2009 but are required in 2013.
| 21 | | The extension allowed by Public Act 87-1272 shall not apply to | 22 | | real
property tax increment allocation financing under Section | 23 | | 11-74.4-8. | 24 | | (e) Those dates, for purposes of real property tax | 25 | | increment allocation
financing pursuant to Section 11-74.4-8 | 26 | | only, shall be not more than 35 years
for redevelopment |
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| 1 | | project areas that were adopted on or after December 16,
1986 | 2 | | and for which at least $8 million worth of municipal bonds were | 3 | | authorized
on or after December 19, 1989 but before January 1, | 4 | | 1990; provided that the
municipality elects to extend the life | 5 | | of the redevelopment project area to 35
years by the adoption | 6 | | of an ordinance after at least 14 but not more than 30
days' | 7 | | written notice to the taxing bodies, that would otherwise | 8 | | constitute the
joint review board for the redevelopment | 9 | | project area, before the adoption of
the ordinance. | 10 | | (f) Those dates, for purposes of real property tax | 11 | | increment allocation
financing pursuant to Section 11-74.4-8 | 12 | | only, shall be not more than 35 years
for redevelopment | 13 | | project areas that were established on or after December 1,
| 14 | | 1981 but before January 1, 1982 and for which at least | 15 | | $1,500,000 worth of
tax increment revenue bonds were | 16 | | authorized
on or after September 30, 1990 but before July 1, | 17 | | 1991; provided that the
municipality elects to extend the life | 18 | | of the redevelopment project area to 35
years by the adoption | 19 | | of an ordinance after at least 14 but not more than 30
days' | 20 | | written notice to the taxing bodies, that would otherwise | 21 | | constitute the
joint review board for the redevelopment | 22 | | project area, before the adoption of
the ordinance. | 23 | | (f-1) (Blank). | 24 | | (f-2) (Blank). | 25 | | (f-3) (Blank). | 26 | | (f-5) Those dates, for purposes of real property tax |
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| 1 | | increment allocation financing pursuant to Section 11-74.4-8 | 2 | | only, shall be not more than 47 years for redevelopment | 3 | | project areas listed in this subsection; provided that (i) the | 4 | | municipality adopts an ordinance extending the life of the | 5 | | redevelopment project area to 47 years , and (ii) the | 6 | | municipality provides notice to the taxing bodies that would | 7 | | otherwise constitute the joint review board for the | 8 | | redevelopment project area not more than 30 and not less than | 9 | | 14 days prior to the adoption of that ordinance , and (iii) | 10 | | after the effective date of this amendatory Act of the 103rd | 11 | | General Assembly, the Governor, President of the Senate, and | 12 | | Speaker of the House receive written support for the extension | 13 | | of the life of the redevelopment project area from each school | 14 | | district and community college district that has the authority | 15 | | to directly levy taxes on property within the redevelopment | 16 | | project area : | 17 | | (1) If the redevelopment project area was established
| 18 | | on December 29, 1981 by the City of Springfield. | 19 | | (2) If the redevelopment project area was established | 20 | | on December 29, 1986 by the City of Morris and that is | 21 | | known as the Morris TIF District 1. | 22 | | (3) If the redevelopment project area was established
| 23 | | on December 31, 1986 by the Village of Cahokia. | 24 | | (4) If the redevelopment project area was established
| 25 | | on December 20, 1986 by the City of Charleston. | 26 | | (5) If the redevelopment project area was established
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| 1 | | on December 23, 1986 by the City of Beardstown. | 2 | | (6) If the redevelopment project area was established
| 3 | | on December 23, 1986 by the Town of Cicero. | 4 | | (7) If the redevelopment project area was established
| 5 | | on December 29, 1986 by the City of East St. Louis. | 6 | | (8) If the redevelopment project area was established
| 7 | | on January 23, 1991 by the City of East St. Louis. | 8 | | (9) If the redevelopment project area was established
| 9 | | on December 29, 1986 by the Village of Gardner. | 10 | | (10) If the redevelopment project area was established
| 11 | | on June 11, 2002 by the City of East Peoria to create the | 12 | | West Washington Street TIF. | 13 | | (11) If the redevelopment project area was established
| 14 | | on December 22, 1986 by the City of Washington creating | 15 | | the Washington Square TIF #2. | 16 | | (12) If the redevelopment project area was established
| 17 | | on November 11, 1986 by the City of Pekin. | 18 | | (13) If the redevelopment project area was established | 19 | | on December 30, 1986 by the City of Belleville. | 20 | | (14) If the ordinance was adopted on April 3, 1989 by | 21 | | the City of Chicago Heights. | 22 | | (15) If the redevelopment project area was established | 23 | | on December 29, 1986 by the City of Pontiac to create TIF I | 24 | | (the Main St TIF). | 25 | | (16) If the redevelopment project area was established | 26 | | on December 29, 1986 by the City of Pontiac to create TIF |
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| 1 | | II (the Interstate TIF). | 2 | | (17) If the redevelopment project area was established | 3 | | on December 23, 1986 by the City of Sparta to create TIF | 4 | | #1. Any termination procedures provided for in Section | 5 | | 11-74.4-8 are not required for this redevelopment project | 6 | | area prior to the 47th calendar year after the year in | 7 | | which the ordinance approving the redevelopment project | 8 | | year was adopted. | 9 | | (g) In consolidating the material relating to completion | 10 | | dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, | 11 | | it is not the intent of the General Assembly to make any | 12 | | substantive change in the law, except for the extension of the | 13 | | completion dates for the City of Aurora, the Village of Milan,
| 14 | | the City of West Frankfort, the Village of Libertyville, and | 15 | | the Village of Hoffman Estates set forth under items (67),
| 16 | | (68), (69), (70), and (71) of subsection (c) of this Section. | 17 | | (Source: P.A. 101-274, eff. 8-9-19; 101-618, eff. 12-20-19; | 18 | | 101-647, eff. 6-26-20; 101-662, eff. 4-2-21; 102-117, eff. | 19 | | 7-23-21; 102-424, eff. 8-20-21; 102-425, eff. 8-20-21; | 20 | | 102-446, eff. 8-20-21; 102-473, eff. 8-20-21; 102-627, eff. | 21 | | 8-27-21; 102-675, eff. 11-30-21; 102-745, eff. 5-6-22; | 22 | | 102-818, eff. 5-13-22; 102-1113, eff. 12-21-22.)
| 23 | | (65 ILCS 5/11-74.4-8)
(from Ch. 24, par. 11-74.4-8)
| 24 | | Sec. 11-74.4-8. Tax increment allocation financing. A | 25 | | municipality may
not adopt tax increment financing in a
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| 1 | | redevelopment
project area after July 30, 1997 (the effective | 2 | | date of Public Act 90-258) that will
encompass an area that is | 3 | | currently included in an enterprise zone created
under the | 4 | | Illinois Enterprise Zone Act unless that municipality, | 5 | | pursuant to
Section 5.4 of the Illinois Enterprise Zone Act, | 6 | | amends the enterprise zone
designating ordinance to limit the | 7 | | eligibility for tax abatements as provided
in Section 5.4.1 of | 8 | | the Illinois Enterprise Zone Act.
A municipality, at the time | 9 | | a redevelopment project area
is designated, may adopt tax | 10 | | increment allocation financing by passing an
ordinance | 11 | | providing that the ad valorem taxes, if any, arising from the
| 12 | | levies upon taxable real property in such redevelopment | 13 | | project
area by taxing districts and tax rates determined in | 14 | | the manner provided
in paragraph (c) of Section 11-74.4-9 each | 15 | | year after the effective
date of the ordinance until | 16 | | redevelopment project costs and all municipal
obligations | 17 | | financing redevelopment project costs incurred under this | 18 | | Division
have been paid shall be divided as follows, provided, | 19 | | however, that with respect to any redevelopment project area | 20 | | located within a transit facility improvement area established | 21 | | pursuant to Section 11-74.4-3.3 in a municipality with a | 22 | | population of 1,000,000 or more, ad valorem taxes, if any, | 23 | | arising from the levies upon taxable real property in such | 24 | | redevelopment project area shall be allocated as specifically | 25 | | provided in this Section:
| 26 | | (a) That portion of taxes levied upon each taxable |
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| 1 | | lot, block, tract, or
parcel of real property which is | 2 | | attributable to the lower of the current
equalized | 3 | | assessed value or the initial equalized assessed
value of | 4 | | each such taxable lot, block, tract, or parcel of real | 5 | | property
in the redevelopment project area shall be | 6 | | allocated to and when collected
shall be paid by the | 7 | | county collector to the respective affected taxing
| 8 | | districts in the manner required by law in the absence of | 9 | | the adoption of
tax increment allocation financing.
| 10 | | (b) Except from a tax levied by a township to retire | 11 | | bonds issued to satisfy
court-ordered damages, that | 12 | | portion, if any, of such taxes which is
attributable to | 13 | | the
increase in the current equalized assessed valuation | 14 | | of each taxable lot,
block, tract, or parcel of real | 15 | | property in the redevelopment project area
over and above | 16 | | the initial equalized assessed value of each property in | 17 | | the
project area shall be allocated to and when collected | 18 | | shall be paid to the
municipal treasurer who shall deposit | 19 | | said taxes into a special fund called
the special tax | 20 | | allocation fund of the municipality for the purpose of
| 21 | | paying redevelopment project costs and obligations | 22 | | incurred in the payment
thereof. In any county with a | 23 | | population of 3,000,000 or more that has adopted
a | 24 | | procedure for collecting taxes that provides for one or | 25 | | more of the
installments of the taxes to be billed and | 26 | | collected on an estimated basis,
the municipal treasurer |
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| 1 | | shall be paid for deposit in the special tax
allocation | 2 | | fund of the municipality, from the taxes collected from
| 3 | | estimated bills issued for property in the redevelopment | 4 | | project area, the
difference between the amount actually | 5 | | collected from each taxable lot,
block, tract, or parcel | 6 | | of real property within the redevelopment project
area and | 7 | | an amount determined by multiplying the rate at which | 8 | | taxes were
last extended against the taxable lot, block, | 9 | | tract, or parcel of real
property in the manner provided | 10 | | in subsection (c) of Section 11-74.4-9 by
the initial | 11 | | equalized assessed value of the property divided by the | 12 | | number
of installments in which real estate taxes are | 13 | | billed and collected within
the county; provided that the | 14 | | payments on or before December 31,
1999 to a municipal | 15 | | treasurer shall be made only if each of the following
| 16 | | conditions are met:
| 17 | | (1) The total equalized assessed value of the | 18 | | redevelopment project
area as last determined was not | 19 | | less than 175% of the total initial
equalized assessed | 20 | | value.
| 21 | | (2) Not more than 50% of the total equalized | 22 | | assessed value of the
redevelopment project area as | 23 | | last determined is attributable to a piece of
property | 24 | | assigned a single real estate index number.
| 25 | | (3) The municipal clerk has certified to the | 26 | | county clerk that the
municipality has issued its |
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| 1 | | obligations to which there has been pledged
the | 2 | | incremental property taxes of the redevelopment | 3 | | project area or taxes
levied and collected on any or | 4 | | all property in the municipality or
the full faith and | 5 | | credit of the municipality to pay or secure payment | 6 | | for
all or a portion of the redevelopment project | 7 | | costs. The certification
shall be filed annually no | 8 | | later than September 1 for the estimated taxes
to be | 9 | | distributed in the following year; however, for the | 10 | | year 1992 the
certification shall be made at any time | 11 | | on or before March 31, 1992.
| 12 | | (4) The municipality has not requested that the | 13 | | total initial
equalized assessed value of real | 14 | | property be adjusted as provided in
subsection (b) of | 15 | | Section 11-74.4-9.
| 16 | | The conditions of paragraphs (1) through (4) do not | 17 | | apply after December
31, 1999 to payments to a municipal | 18 | | treasurer
made by a county with 3,000,000 or more | 19 | | inhabitants that has adopted an
estimated billing | 20 | | procedure for collecting taxes.
If a county that has | 21 | | adopted the estimated billing
procedure makes an erroneous | 22 | | overpayment of tax revenue to the municipal
treasurer, | 23 | | then the county may seek a refund of that overpayment.
The | 24 | | county shall send the municipal treasurer a notice of | 25 | | liability for the
overpayment on or before the mailing | 26 | | date of the next real estate tax bill
within the county. |
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| 1 | | The refund shall be limited to the amount of the
| 2 | | overpayment.
| 3 | | It is the intent of this Division that after July 29, | 4 | | 1988 (the effective date of Public Act 85-1142) a | 5 | | municipality's own ad valorem
tax arising from levies on | 6 | | taxable real property be included in the
determination of | 7 | | incremental revenue in the manner provided in paragraph
| 8 | | (c) of Section 11-74.4-9. If the municipality does not | 9 | | extend such a tax,
it shall annually deposit in the | 10 | | municipality's Special Tax Increment Fund
an amount equal | 11 | | to 10% of the total contributions to the fund from all
| 12 | | other taxing districts in that year. The annual 10% | 13 | | deposit required by
this paragraph shall be limited to the | 14 | | actual amount of municipally
produced incremental tax | 15 | | revenues available to the municipality from
taxpayers | 16 | | located in the redevelopment project area in that year if:
| 17 | | (a) the plan for the area restricts the use of the property | 18 | | primarily to
industrial purposes, (b) the municipality | 19 | | establishing the redevelopment
project area is a home rule | 20 | | community with a 1990 population of between
25,000 and | 21 | | 50,000, (c) the municipality is wholly located within a | 22 | | county
with a 1990 population of over 750,000 and (d) the | 23 | | redevelopment project
area was established by the | 24 | | municipality prior to June 1, 1990. This
payment shall be | 25 | | in lieu of a contribution of ad valorem taxes on real
| 26 | | property. If no such payment is made, any redevelopment |
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| 1 | | project area of the
municipality shall be dissolved.
| 2 | | If a municipality has adopted tax increment allocation | 3 | | financing by ordinance
and the County Clerk thereafter | 4 | | certifies the "total initial equalized assessed
value as | 5 | | adjusted" of the taxable real property within such | 6 | | redevelopment
project area in the manner provided in | 7 | | paragraph (b) of Section 11-74.4-9,
each year after the | 8 | | date of the certification of the total initial equalized
| 9 | | assessed value as adjusted until redevelopment project | 10 | | costs and all
municipal obligations financing | 11 | | redevelopment project costs have been paid
the ad valorem | 12 | | taxes, if any, arising from the levies upon the taxable | 13 | | real
property in such redevelopment project area by taxing | 14 | | districts and tax
rates determined in the manner provided | 15 | | in paragraph (c) of Section
11-74.4-9 shall be divided as | 16 | | follows, provided, however, that with respect to any | 17 | | redevelopment project area located within a transit | 18 | | facility improvement area established pursuant to Section | 19 | | 11-74.4-3.3 in a municipality with a population of | 20 | | 1,000,000 or more, ad valorem taxes, if any, arising from | 21 | | the levies upon the taxable real property in such | 22 | | redevelopment project area shall be allocated as | 23 | | specifically provided in this Section:
| 24 | | (1) That portion of the taxes levied upon each | 25 | | taxable lot, block, tract,
or parcel of real property | 26 | | which is attributable to the lower of the
current |
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| 1 | | equalized assessed value or "current equalized | 2 | | assessed value as
adjusted" or the initial equalized | 3 | | assessed value of each such taxable lot,
block, tract, | 4 | | or parcel of real property existing at the time tax | 5 | | increment
financing was adopted, minus the total | 6 | | current homestead exemptions under Article 15 of the | 7 | | Property
Tax Code in the
redevelopment project area | 8 | | shall be allocated to and when collected shall be
paid | 9 | | by the county collector to the respective affected | 10 | | taxing districts in the
manner required by law in the | 11 | | absence of the adoption of tax increment
allocation | 12 | | financing.
| 13 | | (1.5) For redevelopment project areas enacted by | 14 | | ordinance after the effective date of this amendatory | 15 | | Act of the 103rd General Assembly and on or before July | 16 | | 1, 2025 located in full or in part between the | 17 | | intersections of Wilke Road and Northwest Highway, | 18 | | Northwest Highway and Illinois Route 53, Illinois | 19 | | Route 53 and Euclid Avenue, and Euclid Avenue and | 20 | | Wilke Road in Cook County, if a taxing district that is | 21 | | a school district or community college district that | 22 | | would have the authority to directly levy taxes on | 23 | | property within the redevelopment project area has not | 24 | | provided written support to the county collector, the | 25 | | Governor, the President of the Senate, and the Speaker | 26 | | of the House in favor of adoption of the redevelopment |
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| 1 | | project area, that portion, if any, of those taxes | 2 | | that are attributable to the increase in the current | 3 | | equalized assessed valuation of each taxable lot, | 4 | | block, tract, or parcel of real property in the | 5 | | redevelopment project area, over and above the initial | 6 | | equalized assessed value of each property existing at | 7 | | the time tax increment financing was adopted, minus | 8 | | the total current homestead exemptions pertaining to | 9 | | each piece of property provided by Article 15 of the | 10 | | Property Tax Code in the redevelopment project area, | 11 | | shall be allocated to and, when collected, shall be | 12 | | paid by the county collector to the school district or | 13 | | community college district, as applicable, in the | 14 | | manner required by law in the absence of the adoption | 15 | | of tax increment allocation financing. | 16 | | The boundaries of any redevelopment project area | 17 | | may not be changed from how those boundaries were | 18 | | enacted by ordinance to include, in full or in part, | 19 | | any area between the intersections of Wilke Road and | 20 | | Northwest Highway, Northwest Highway and Illinois | 21 | | Route 53, Illinois Route 53 and Euclid Avenue, and | 22 | | Euclid Avenue and Wilke Road in Cook County. | 23 | | (2) Except as provided in paragraph (1.5), that | 24 | | That portion, if any, of such taxes which is | 25 | | attributable to the
increase in the current equalized | 26 | | assessed valuation of each taxable lot,
block, tract, |
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| 1 | | or parcel of real property in the redevelopment | 2 | | project area,
over and above the initial equalized | 3 | | assessed value of each property
existing at the time | 4 | | tax increment financing was adopted, minus the total
| 5 | | current homestead exemptions pertaining to each piece | 6 | | of property provided
by Article 15 of the Property Tax | 7 | | Code
in the redevelopment
project area, shall be | 8 | | allocated to and when collected shall be paid to the
| 9 | | municipal Treasurer, who shall deposit said taxes into | 10 | | a special fund called
the special tax allocation fund | 11 | | of the municipality for the purpose of paying
| 12 | | redevelopment project costs and obligations incurred | 13 | | in the payment thereof.
| 14 | | The municipality may pledge in the ordinance the funds | 15 | | in and to be
deposited in the special tax allocation fund | 16 | | for the payment of such costs
and obligations. No part of | 17 | | the current equalized assessed valuation of
each property | 18 | | in the redevelopment project area attributable to any
| 19 | | increase above the total initial equalized assessed value, | 20 | | or the total
initial equalized assessed value as adjusted, | 21 | | of such properties shall be
used in calculating the | 22 | | general State aid formula, provided for in
Section 18-8 of | 23 | | the School Code, or the evidence-based funding formula, | 24 | | provided for in Section 18-8.15 of the School Code, until | 25 | | such time as all redevelopment
project costs have been | 26 | | paid as provided for in this Section.
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| 1 | | Whenever a municipality issues bonds for the purpose | 2 | | of financing
redevelopment project costs, such | 3 | | municipality may provide by ordinance for the
appointment | 4 | | of a trustee, which may be any trust company within the | 5 | | State,
and for the establishment of such funds or accounts | 6 | | to be maintained by
such trustee as the municipality shall | 7 | | deem necessary to provide for the
security and payment of | 8 | | the bonds. If such municipality provides for
the | 9 | | appointment of a trustee, such trustee shall be considered | 10 | | the assignee
of any payments assigned by the municipality | 11 | | pursuant to such ordinance
and this Section. Any amounts | 12 | | paid to such trustee as assignee shall be
deposited in the | 13 | | funds or accounts established pursuant to such trust
| 14 | | agreement, and shall be held by such trustee in trust for | 15 | | the benefit of the
holders of the bonds, and such holders | 16 | | shall have a lien on and a security
interest in such funds | 17 | | or accounts so long as the bonds remain outstanding and
| 18 | | unpaid. Upon retirement of the bonds, the trustee shall | 19 | | pay over any excess
amounts held to the municipality for | 20 | | deposit in the special tax allocation
fund.
| 21 | | When such redevelopment projects costs, including, | 22 | | without limitation, all
municipal obligations financing | 23 | | redevelopment project costs incurred under
this Division, | 24 | | have been paid, all surplus funds then remaining in the
| 25 | | special tax allocation fund shall be distributed
by being | 26 | | paid by the
municipal treasurer to the Department of |
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| 1 | | Revenue, the municipality and the
county collector; first | 2 | | to the Department of Revenue and the municipality
in | 3 | | direct proportion to the tax incremental revenue received | 4 | | from the State
and the municipality, but not to exceed the | 5 | | total incremental revenue received
from the State or the | 6 | | municipality less any annual surplus distribution
of | 7 | | incremental revenue previously made; with any remaining | 8 | | funds to be paid
to the County Collector who shall | 9 | | immediately thereafter pay said funds to
the taxing | 10 | | districts in the redevelopment project area in the same | 11 | | manner
and proportion as the most recent distribution by | 12 | | the county collector to
the affected districts of real | 13 | | property taxes from real property in the
redevelopment | 14 | | project area.
| 15 | | Upon the payment of all redevelopment project costs, | 16 | | the retirement of
obligations, the distribution of any | 17 | | excess monies pursuant to this
Section, and final closing | 18 | | of the books and records of the redevelopment
project
| 19 | | area, the municipality shall adopt an ordinance dissolving | 20 | | the special
tax allocation fund for the redevelopment | 21 | | project area and terminating the
designation of the | 22 | | redevelopment project area as a redevelopment project
| 23 | | area.
Title to real or personal property and public | 24 | | improvements
acquired
by or for
the
municipality as a | 25 | | result of the redevelopment project and plan shall vest in
| 26 | | the
municipality when acquired and shall continue to be |
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| 1 | | held by the municipality
after the redevelopment project | 2 | | area has been terminated.
Municipalities shall notify | 3 | | affected taxing districts prior to
November 1 if the | 4 | | redevelopment project area is to be terminated by December | 5 | | 31
of
that same year. If a municipality extends estimated | 6 | | dates of completion of a
redevelopment project and | 7 | | retirement of obligations to finance a
redevelopment | 8 | | project, as allowed by Public Act 87-1272, that
extension | 9 | | shall not extend the property tax increment allocation | 10 | | financing
authorized by this Section. Thereafter the rates | 11 | | of the taxing districts
shall be extended and taxes | 12 | | levied, collected and distributed in the manner
applicable | 13 | | in the absence of the adoption of tax increment allocation
| 14 | | financing.
| 15 | | If a municipality with a population of 1,000,000 or | 16 | | more has adopted by ordinance tax increment allocation | 17 | | financing for a redevelopment project area located in a | 18 | | transit facility improvement area established pursuant to | 19 | | Section 11-74.4-3.3, for each year after the effective | 20 | | date of the ordinance until redevelopment project costs | 21 | | and all municipal obligations financing redevelopment | 22 | | project costs have been paid, the ad valorem taxes, if | 23 | | any, arising from the levies upon the taxable real | 24 | | property in that redevelopment project area by taxing | 25 | | districts and tax rates determined in the manner provided | 26 | | in paragraph (c) of Section 11-74.4-9 shall be divided as |
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| 1 | | follows: | 2 | | (1) That portion of the taxes levied upon each | 3 | | taxable lot, block, tract, or parcel of real property | 4 | | which is attributable to the lower of (i) the current | 5 | | equalized assessed value or "current equalized | 6 | | assessed value as adjusted" or (ii) the initial | 7 | | equalized assessed value of each such taxable lot, | 8 | | block, tract, or parcel of real property existing at | 9 | | the time tax increment financing was adopted, minus | 10 | | the total current homestead exemptions under Article | 11 | | 15 of the Property Tax Code in the redevelopment | 12 | | project area shall be allocated to and when collected | 13 | | shall be paid by the county collector to the | 14 | | respective affected taxing districts in the manner | 15 | | required by law in the absence of the adoption of tax | 16 | | increment allocation financing. | 17 | | (2) That portion, if any, of such taxes which is | 18 | | attributable to the increase in the current equalized | 19 | | assessed valuation of each taxable lot, block, tract, | 20 | | or parcel of real property in the redevelopment | 21 | | project area, over and above the initial equalized | 22 | | assessed value of each property existing at the time | 23 | | tax increment financing was adopted, minus the total | 24 | | current homestead exemptions pertaining to each piece | 25 | | of property provided by Article 15 of the Property Tax | 26 | | Code in the redevelopment project area, shall be |
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| 1 | | allocated to and when collected shall be paid by the | 2 | | county collector as follows: | 3 | | (A) First, that portion which would be payable | 4 | | to a school district whose boundaries are | 5 | | coterminous with such municipality in the absence | 6 | | of the adoption of tax increment allocation | 7 | | financing, shall be paid to such school district | 8 | | in the manner required by law in the absence of the | 9 | | adoption of tax increment allocation financing; | 10 | | then | 11 | | (B) 80% of the remaining portion shall be paid | 12 | | to the municipal Treasurer, who shall deposit said | 13 | | taxes into a special fund called the special tax | 14 | | allocation fund of the municipality for the | 15 | | purpose of paying redevelopment project costs and | 16 | | obligations incurred in the payment thereof; and | 17 | | then | 18 | | (C) 20% of the remaining portion shall be paid | 19 | | to the respective affected taxing districts, other | 20 | | than the school district described in clause (a) | 21 | | above, in the manner required by law in the | 22 | | absence of the adoption of tax increment | 23 | | allocation financing. | 24 | | Nothing in this Section shall be construed as relieving | 25 | | property in such
redevelopment project areas from being | 26 | | assessed as provided in the Property
Tax Code or as relieving |
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| 1 | | owners of such property from paying a uniform rate of
taxes, as | 2 | | required by Section 4 of Article IX of the Illinois | 3 | | Constitution.
| 4 | | (Source: P.A. 102-558, eff. 8-20-21.)
| 5 | | Section 10. The Tourism Preservation and Sustainability | 6 | | District Act is amended by adding Section 31 as follows: | 7 | | (70 ILCS 3455/31 new) | 8 | | Sec. 31. Sangamon County; Bank of Springfield Center. | 9 | | Notwithstanding any other provision of this Act, a petition, | 10 | | resolution of intent, district plan, and ordinance to create a | 11 | | tourism preservation and sustainability district may include | 12 | | an initial term of up to 20 years if the ordinance is adopted | 13 | | on or after July 1, 2023 and on or before December 31, 2023 by | 14 | | the Sangamon County Board for improvements to the Bank of | 15 | | Springfield Center.
| 16 | | Section 99. Effective date. This Act takes effect upon | 17 | | becoming law.".
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