PACE leaves your current tax revenues intact. Property Assessed Clean Energy (PACE) financing is an economic development tool that does not subtract or redirect a political subdivision’s existing tax revenues. Many economic...more
On July 18, 2023, Governor Gretchen Whitmer signed a series of bills that will dramatically update the state’s brownfield redevelopment laws to allow the use of tax increment financing for housing projects on brownfield sites...more
Last Friday the Illinois Appellate Court for the Third District shot down a tax increment financing (TIF) district created by the City of Crest Hill finding that the parcels within the proposed TIF area were not contiguous...more
Act 188 Plans On Hold as New Chemical Bill is Introduced - Nearly three years after the legislature passed a law to regulate children’s products containing chemicals of high concern, a web site intended to inform the...more
The final article in the New Laws of 2015 series focuses on new legislation that makes it easier for municipalities and special districts to harness tax increment — the future incremental growth in property tax revenues — for...more
It will be slightly easier for municipalities and special districts to harness the tax increment for financing infrastructure projects under Senate Bill 628. Infrastructure Financing Districts, which have existed in...more
Four bills affecting infrastructure financing districts, a funding mechanism for infrastructure and development projects that benefit the broader community, were recently signed by Gov. Jerry Brown. IFDs, created in 1990,...more