Bill Text: IL HB1883 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Property Tax Code. Provides that the notice of the first levy of taxes by a municipality or county in a special service area shall include the proposed tax levy, the tax rates for the year preceding the levy year of other taxing districts in the special service area, the proposed budget, and a tax impact statement. Provides that the tax impact statement shall contain estimates of the tax required for the proposed special service area and estimates of the tax increase for taxpayers in the special service area. Provides factors on which the estimates of the tax rates shall be based. Provides that the public hearing required for the proposal of a special service area shall be held within the boundaries of the proposed special service area. Effective January 1, 2012.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB1883 Detail]
Download: Illinois-2011-HB1883-Amended.html
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| 1 | AMENDMENT TO HOUSE BILL 1883
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| 2 | AMENDMENT NO. ______. Amend House Bill 1883, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of Senate Amendment No. | ||||||
| 4 | 7, on page 39, line 10, after "area,", by inserting "except as | ||||||
| 5 | provided in subsection (c),"; and
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| 6 | on page 39, immediately below line 20, by inserting the | ||||||
| 7 | following: | ||||||
| 8 | "(c) In the event that the developer maintains no jobs at | ||||||
| 9 | any time before the termination of the economic development | ||||||
| 10 | project area, the municipality shall adopt an ordinance | ||||||
| 11 | dissolving the special tax allocation fund for the economic | ||||||
| 12 | development project area and terminating the economic | ||||||
| 13 | development project area as an economic development project | ||||||
| 14 | area. That ordinance shall be adopted no later than one year | ||||||
| 15 | after the date that the developer maintains no jobs within the | ||||||
| 16 | economic development project area. All excess moneys in the | ||||||
| 17 | special tax allocation fund shall be distributed to the taxing | ||||||
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| 1 | districts in the same manner and proportion as the most recent | ||||||
| 2 | distribution by the county collector to those taxing districts | ||||||
| 3 | in the economic development project area.".
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