Bill Text: IL SB3382 | 2011-2012 | 97th General Assembly | Amended

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Bill Title: Amends the Economic Development Area Tax Increment Allocation Act. Provides that no economic development area may be established or extended without the written approval of the taxing districts comprising a majority of the total amount of taxes extended within the economic development area in the previous taxable year. Provides that no direct or indirect rights or privileges conveyed to any corporation under an economic development plan or agreement may be transferred to a developer's successor entity without the express, written approval of each taxing district located within the economic development area. Provides that the portion of the taxes extended by a school district located in an economic development project area may not be paid into the special tax allocation fund without the express written permission of the school district. Provides that assets purchased by the Administrator to further the development of the economic development area may not be transferred out of the economic development area or otherwise used by the Administrator for development activities or services that are not related to the economic development area.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3382 Detail]

Download: Illinois-2011-SB3382-Amended.html

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Sen. Michael Noland

Filed: 3/21/2012

09700SB3382sam001 LRB097 18949 HLH 67628 a
AMENDMENT TO SENATE BILL 3382
AMENDMENT NO. ______. Amend Senate Bill 3382 on page 3,
line 12, after "extended", by inserting "on or after the
effective date of this amendatory Act of the 97th General
Assembly"; and
on page 3, line 17, after "agreement", by inserting "entered
into on or after the effective date of this amendatory Act of
the 97th General Assembly"; and
on page 8, line 1, after "financing.", by inserting "This
paragraph (3) applies only to school districts located in an
economic development area established or extended on or after
the effective date of this amendatory Act of the 97th General
Assembly."; and
on page 11, line 13, after "extended", by inserting "on or
after the effective date of this amendatory Act of the 97th

09700SB3382sam001 - 2 - LRB097 18949 HLH 67628 a
General Assembly"; and
on page 11, line 18, after "agreement", by inserting "entered
into on or after the effective date of this amendatory Act of
the 97th General Assembly"; and
on page 16, line 3, after "financing.", by inserting "This
paragraph (3) applies only to school districts located in an
economic development area established or extended on or after
the effective date of this amendatory Act of the 97th General
Assembly."; and
on page 22, line 7, after the period, by inserting "This
Section applies only to Economic Development Areas established
or extended on or after the effective date of this amendatory
Act of the 97th General Assembly.".