Bill Text: IL SB1947 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Creates the Honesty in Economic Development Act. Provides that an agreement or contract entered into by a governmental unit, or any party negotiating on behalf of the governmental unit, for projects for economic development that includes a tax incentive may not contain any language that provides that the agreement or contract or any of its terms are confidential or that the parties to the agreement or contract are prohibited from disclosing, discussing, describing, or commenting upon the terms of the agreement or contract. Provides that the Act does not supersede any exemption to a public body's obligation to disclose public records set forth in the Freedom of Information Act, except that the Freedom of Information Act exemption that prohibits the disclosure of trade secrets and commercial or financial information furnished under a claim that they are proprietary, privileged, or confidential is not applicable to the identity of any party to an agreement or contract negotiation for a tax incentive or any party with a beneficial interest in that tax incentive. Defines "tax incentive" to include payments in lieu of taxes, tax abatements, or bonds, notes, loans, grants, or rebates for the economic development. Defines "governmental unit".

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2023-02-16 - Added as Chief Co-Sponsor Sen. Ann Gillespie [SB1947 Detail]

Download: Illinois-2023-SB1947-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB1947 Introduced 2/9/2023, by Sen. Robert Peters SYNOPSIS AS INTRODUCED:
New Act
Creates the Honesty in Economic Development Act. Provides that an agreement or contract entered into by a governmental unit, or any party negotiating on behalf of the governmental unit, for projects for economic development that includes a tax incentive may not contain any language that provides that the agreement or contract or any of its terms are confidential or that the parties to the agreement or contract are prohibited from disclosing, discussing, describing, or commenting upon the terms of the agreement or contract. Provides that the Act does not supersede any exemption to a public body's obligation to disclose public records set forth in the Freedom of Information Act, except that the Freedom of Information Act exemption that prohibits the disclosure of trade secrets and commercial or financial information furnished under a claim that they are proprietary, privileged, or confidential is not applicable to the identity of any party to an agreement or contract negotiation for a tax incentive or any party with a beneficial interest in that tax incentive. Defines "tax incentive" to include payments in lieu of taxes, tax abatements, or bonds, notes, loans, grants, or rebates for the economic development. Defines "governmental unit".
LRB103 27561 AWJ 57153 b
A BILL FOR
SB1947 LRB103 27561 AWJ 57153 b
AN ACT concerning government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short title. This Act may be cited as the
Honesty in Economic Development Act.
Section 5. Definitions. As used in this Act:
"Governmental unit" means the State, an agency of the
State, a unit of local government, or any other political
subdivision of the State.
"Tax incentive" includes payments in lieu of taxes, tax
abatements, or bonds, notes, loans, grants, or rebates.
Section 10. Nondisclosure agreements prohibited.
Notwithstanding any provision of law to the contrary, an
agreement or contract entered into by a governmental unit, or
any party negotiating on behalf of the governmental unit, for
projects for economic development that includes a tax
incentive may not contain any language that provides that the
agreement or contract or any of its terms are confidential or
that the parties to the agreement or contract are prohibited
from disclosing, discussing, describing, or commenting upon
the terms of the agreement or contract.

SB1947 - 2 - LRB103 27561 AWJ 57153 b
Section 15. Disclosure of records. This Act does not
supersede any exemption to a public body's obligation to
disclose public records set forth in the Freedom of
Information Act. However, the disclosure exemption under
paragraph (g) of item (1) of Section 7 of the Freedom of
Information Act is not applicable to the identity of any party
to an agreement or contract negotiation for a tax incentive or
any party with a beneficial interest in that tax incentive.