SUMMARY OF BILL
REPORTED FROM COMMITTEE
Ways and Means
The bill would amend the Recodified Tax Increment Financing Act to allow the chief executive officer of a municipality to designate an individual from the municipality's governing body to serve on a downtown development authority board in his or her place.
The Act allows a municipality to establish a downtown development authority, and requires the authority to be under the supervision and control of a board. The board must consist of the chief executive officer of the municipality and at least eight but not more than 12 members as determined by the governing body of the municipality. The members must be appointed by the municipality's chief executive officer, subject to approval by the municipality's governing body. Under the bill, the chief executive officer of the municipality could designate a designee from the municipality's governing body to serve in his or her place on the board.
The bill would have no fiscal impact on State or local government.
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.