SB 2511

Abstract

Amends the State Comptroller Act. Creates a provision allowing the Comptroller to establish and conduct a training and certification program for Tax Increment Finance administrators. Sets forth requirements of the program. Amends the Property Tax Code. Requires the name and identification number of a redevelopment project area where the property is located and a State Internet website address with information on tax increment financing to be printed on specified bills. Amends the Illinois Municipal Code. Provides that on and after January 1, 2012, the State Comptroller must post on its website specified information. Sets forth requirements concerning filing reports, daily charges for delinquent reports, the completion date of a redevelopment project, uses of specified revenues, and approval of a redevelopment plan. Further provides that a municipality shall include, in specified statements, a detailed list of jobs created during the fiscal year. Amends the Industrial Jobs Recovery Law of the Illinois Municipal Code. Provides that a municipality must electronically submit financial statements for each redevelopment project area. Sets forth requirements concerning intergovernmental agreements. Requires the State Comptroller to post on its website the information submitted by a municipality concerning audit reports. Makes other changes. Amends the School Code. Provides that for certain school districts, the calculated local property tax revenues per pupil shall include any surplus received by the school district in the previous year from a special tax allocation fund, as provided by the Tax Increment Allocation Redevelopment Act or the Industrial Jobs Recovery Law. Effective January 1, 2012.