SPRINGFIELD - It has been 13 years since Illinois lawmakers approved a significant overhaul of the law that allows cities to create tax increment financing districts.
Kurt Erickson at the Pantagraph is reporting that State Rep. John Bradley, a Democrat from Marion, plans to introduce legislation this spring to bring changes to the state’s TIF laws.
A year ago, TIF reform shepherded by Bradley ran aground amid disagreements by those involved in the locally managed economic development program that continues to surge in popularity.
At the end of 1990, there were 238 TIF districts in the state. By 2006, that number had grown to nearly 1,000. Now the number stands at 1,221, according to figures collected by the Illinois comptroller’s office.