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92_HB3241eng HB3241 Engrossed LRB9205355SMks 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 HB3241 Engrossed -2- LRB9205355SMks 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. HB3241 Engrossed -3- LRB9205355SMks 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 2002 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.