House Sponsors: RYAN. Senate Sponsors: RADOGNO Short description: MUNI CODE-TIF-RERORT TO DCCA Synopsis of Bill as introduced: Amends the Tax Increment Allocation Redevelopment Act and the Industrial Jobs Recovery Law in the Illinois Municipal Code. Provides that the report required to be sent by the municipality concerning its tax increment financing district or districts to the Comptroller shall be sent instead to the Department of Commerce and Community Affairs (DCCA). Provides that DCCA shall annually evaluate tax increment financing districts in Illinois using a cost-benefit analysis. For each tax increment financing district DCCA shall determine the increase in the assessed value of property in the district from the time the district was formed up to the date of the most recent report filed by the municipality and the amount of tax revenue foregone by each taxing district in which the tax increment financing district is located. Provides that DCCA shall determine, for all tax increment financing districts combined, the level of tax revenue generated within the districts at the time the district was formed and the tax revenue generated in the districts at the time of the most recent reports submitted by the municipality. Requires DCCA to submit a report of this analysis to the municipality in which the tax increment financing district is located and to each taxing body affected by the tax increment financing district. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes reference to: 65 ILCS 5/11-74.4-5 65 ILCS 5/11-74.6-22 Deletes everything. Provides that all tax increment financing reports filed with the Comptroller by municipalities must be provided by the Comptroller to the Department of Commerce and Community Affairs (DCCA) for use by the Tax Increment Effectiveness Evaluation Task Force (rather than requiring the municipalities to file the reports directly with DCCA). Creates the Tax Increment Effectiveness Evaluation Task Force to evaluate the effectiveness of tax increment financing districts in Illinois (rather than requiring DCCA to annually evaluate tax increment financing districts). Provides that the Task Force must investigate and determine the best methods to use to make the evaluations and must prepare and submit a report no later than June 30, 2002 containing its recommendations for the establishment of a system to evaluate the effectiveness of tax increment financing districts in Illinois. Provides that upon receipt of the Task Force's report the Department of Commerce and Community Affairs shall begin to implement the evaluation system recommended in the Task Force's report. Effective immediately. FISCAL NOTE, H-AM 1 (Department of Commerce and Community Affairs) The fiscal impact of HB 3241 (H-AM 1) on DCCA to reimburse the Task Force for expenses cannot be reasonably estimated at this time. The cost associated with implementing a TIF evaluation system is estimated to exceed $300,000. HOUSE AMENDMENT NO. 2. Deletes everything. Reinserts the provisions of House Amendment No. 1 with the following changes. Removes the requirement that the reports must be provided to DCCA for use by the Task Force. Changes the number of members on the Task Force from 11 to 15 and changes the composition of the Task Force. Removes the provision for the reimbursement for reasonable and necessary expenses of Task Force members. Provides that the Director of Commerce and Community Affairs shall call the first meeting and that the Task Force shall select a chairperson at the first meeting (now, Director names the chairperson). Provides that the Task Force's report be submitted to the General Assembly and the Governor (now, to DCCA). Removes the requirement that DCCA begin to implement the evaluation system upon receipt of the Task Force's report. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status