IL SB3499

Establishes the Capital Area Tourism Authority as a new political subdivision covering a defined area of downtown Springfield bounded by Walnut Street, North Grand Avenue, 11th Street, and South Grand Avenue.

Grants the Authority power to create STAR bond districts and issue STAR bonds for tourism and economic development projects, contingent on Sangamon County imposing a hotel tax and dedicating that revenue plus local sales tax receipts to project costs.

Allows State sales tax increment contributions to cover up to 100% of total project costs in the Authority's STAR bond districts, rather than the standard 50% limit under the Statewide Innovation Development and Economy Act.

Creates a 5-member Board of Trustees with 3 members appointed by Sangamon County Board, 1 by Springfield City Council, and 1 by the Springfield Metropolitan Exposition and Auditorium Authority, with members serving without compensation.

Requires the Authority to own and control STAR bond projects instead of a master developer, submit annual financial reports to the Auditor General, and comply with the Open Meetings Act and Freedom of Information Act.