Ives critical of bill to extend TIFs
Rep. Jeanne Ives (R-Wheaton) expressed her displeasure for a recent House bill that would create tax increment allocation financing extensions for ordinances in several cities in Illinois passes during the Nov. 15 House floor session.
House Bill 1193 was filed in 2017 by House Speaker Michael Madigan. It is sponsored by Rep. Monica Bristow (D-Alton) and State. Sen. John Cullerton (D-Chicago).
The bill amends the Tax Increment Allocation Redevelopment Act of Illinois Municipal Code and creates tax increment financing (TIF) extensions for Hartford, Manlius and Hoopeston.
TIFs reallocate funds from property taxes to encourage investment within their districts.
“I ask for an aye vote on these TIF extensions for the [villages and city],” Bristow said.
Ives was fervent in her opposition.
“I think it’s important that we talk about this in a more direct way,” Ives said. “Obviously when you hide your property wealth in TIF districts as Chicago does a ton of and other people across the state, what you’re doing is skewing the school funding formula to the advantage of your district.”
Ives said there was supposed to be a task force on TIFs, and a separate property tax task force examined the issue, but nothing has been done.
“The school funding bill passed well over a year ago, and we have not addressed the inconsistency with TIF districts as it relates to the school funding formula,” Ives said. “I actually advocate a no vote on any TIF extension until we deal with this inside the school funding formula as well. All you’re doing is stealing from the rest of the state and hiding it in a TIF. Vote no.”
Rep. Keith Wheeler (R-North Aurora) asked Bristow to walk him through the bill and if local governments had already signed on for the extensions.
“They have and we have the letters,” Bristow said.
Wheeler also asked Bristow if the joint review board process had been completed; as well, Bristow said it had.
“Not everyone here is in favor of TIFs, but I’m looking through the proponents and it looks like all the local governments are on board here,” Wheeler said.
Rep. Thomas Bennett (R-Pontiac) called the bill a bipartisan effort.
“There are two TIF requests in there from Hoopeston, which is in my district,” Bennett said. “I rise in support.”
The bill passed with 89 yes votes and 7 no votes. A revenue hearing on the bill is scheduled for Nov. 27.