House Sponsors: LEITCH-SCOTT-SCULLY-MOFFITT AND YOUNGE. Senate Sponsors: RADOGNO-HAWKINSON-CLAYBORNE Short description: MUNICIPAL CODE-TIF HEARINGS Synopsis of Bill as introduced: Amends the Illinois Municipal Code. Requires developers entering into economic incentive agreements for redevelopment to meet certain criteria concerning creditworthiness. Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the maturity date for tax increment financing obligations may not exceed 35 years if the municipality is subject to the Financially Distressed City Law. Provides that if the redevelopment plan will not result in displacement of 10 or more (now, no lower limit) residents from inhabited units, a housing impact study need not be performed. In language providing that the municipality shall "hear and determine all protests and objections at the hearing" concerning a redevelopment plan or project or the designation of a redevelopment project area, provides that "determine" means the municipality shall consider all protests and objections and shall, by virtue of its final adoption or lack of adoption of an ordinance, have reached conclusions that are determinate prima facie. In provisions authorizing the municipality 30 days to resubmit its plan or amendment after rejection by the joint review board, provides that notwithstanding the resubmission, the municipality may commence the scheduled public hearing and either adjourn the public hearing or continue the public hearing until a date certain, that any amendments to the redevelopment plan shall be the subject of a public hearing before the hearing is adjourned if so determined by the municipality, and that no amendments to the redevelopment plan shall require any further notice or convening of a joint review board meeting. Makes other changes. HOUSE AMENDMENT NO. 4. Deletes reference to: 65 ILCS 5/8-11-20 65 ILCS 5/11-74.4-3 65 ILCS 5/11-74.4-4.1 65 ILCS 5/11-74.4-5 65 ILCS 5/11-74.4-7 Adds reference to: 65 ILCS 5/11-74.4-1 from Ch. 24, par. 11-74.4-1 Deletes everything after the enacting clause. Amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Makes a technical change in the Section concerning how the Act may be cited. HOUSE AMENDMENT NO. 5. Adds reference to: 65 ILCS 5/8-11-20 65 ILCS 5/11-74.4-3 65 ILCS 5/11-74.4-4.1 65 ILCS 5/11-74.4-5 65 ILCS 5/11-74.4-7 65 ILCS 5/11-74.4-8a from Ch. 24, par. 11-74.4-8a Deletes everything. Reinserts the bill as introduced but makes the following changes. Provides that the municipality shall "hear all protests and objections at the hearing" (now, hear and determine all protests and objections) and removes amendatory provisions defining the term "determine"; adds a provision to the definition of "redevelopment plan"; expands the persons who must receive notice of the availability of the redevelopment plan and eligibility report; and requires a hearing on changes to the redevelopment plan if the changes meet certain criteria. Further amends the Tax Increment Allocation Redevelopment Act in the Illinois Municipal Code. Provides that the redevelopment project must be completed by December 31 of the 35th year (now, the 23rd year) after the year in which the ordinance was adopted in the TIF district if the ordinance was adopted (i) on December 29, 1986 by the City of Galva, (ii) in September 1988 by Sauk Village, (iii) in October 1993 by Sauk Village, or (iv) in March 1991 by the City of Centreville. Provides that municipalities that issued bonds in connection with a redevelopment project prior to July 29, 1991 and municipalities that entered into contracts in connection with a redevelopment project before June 1, 1988 shall continue to receive their proportional share of the Illinois Tax Increment Fund distribution until the date on which the project is completed or terminated. Provides that if, however, a municipality that issued bonds retires the bonds prior to June 30, 2007 or a municipality that entered into contracts completes the contracts prior to June 30, 2007, and the redevelopment project is not completed or terminated, then the Net State Sales Tax Increment shall be calculated, beginning on the date on which the bonds are retired or the contracts are completed, by a gradually decreasing percentage in the State Fiscal Years 2002 through 2007. Provides that a municipality that was authorized to and has extended the estimated dates of completion of the redevelopment project and retirement of obligations to finance redevelopment project costs by municipal ordinance to December 31, 2013 shall continue to receive from the State a share of the Illinois Tax Increment Fund so long as the municipality deposits an amount equal to the municipal share of the real property tax increment revenues into the special tax allocation fund during the extension period. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0263 Last action date: AUG-07-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status