Public Act 100-0836 (SB2303) Summary

• Creates a Tax Increment Financing (TIF) Reform Task Force consisting of 12 members of the General Assembly (3 from each legislative caucus) to study current TIF laws and submit findings to the General Assembly by June 1, 2018.

• Task Force shall examine benefits and costs of TIF districts, interactions between TIF law and school funding, and expenditure of TIF funds and TIF surplus funds.

• Extends the repeal date of the Task Force from April 30, 2018 to July 1, 2019, and declares the General Assembly's intention for the Act to continue in effect until that date.

• Amends the Illinois Municipal Code to modify TIF completion dates for specific municipalities, including adding provisions for the City of Marion (ordinance adopted October 23, 1995) and correcting technical language references.

• Department of Revenue shall provide staff and administrative support to the Task Force and post the final report on its website; Task Force is exempt from Freedom of Information Act and Open Meetings Act requirements.