IL HB3760

Establishes the Local Government Tax Incentive Disclosure Act requiring units of local government to report the annual value of tax incentives as community investment revenue on their annual financial reports.

Defines "tax incentive" as property tax abatements granted by local government or tax increment financing affecting local government.

Requires the Department of Commerce and Economic Opportunity to report annually by August 1 to the Governor and General Assembly on the total value of all tax credits awarded by the Department, including credits under the Economic Development for a Growing Economy Tax Credit Act.

Takes effect upon becoming law.