Skillicorn wants TIF changes to help schools, provide transparency
The rationale behind tax increment financing (TIF) districts might have been a good one once, but it's time to see them for what they've become and do something about it, Rep. Allen Skillicorn (R-East Dundee) argues.
“The original purpose of these TIF districts was to help rebuild blighted properties and provide economic stimulus,” Skillicorn said. “Unfortunately, in many cases, TIF districts have become a misused form of underperforming corporate welfare that ultimately adds more and more costs to taxpayers.”
Skillicorn recommends reforms that would redirect surplus TIF funding and provide more transparency to taxpayers. He voted for House Bill 3720, which passed the House and would allow any surplus funding from a TIF district to be put toward public school expenses.
Skillicorn is also sponsoring House Bill 361, which is now with the Rules Committee. The measure would allow Illinois taxpayers to clearly see a list of TIF districts they are paying taxes to and the dollar amounts.
“Taxpayers have a right to know exactly how much they are contributing to TIF districts,” Skillicorn said. “They also shouldn’t have to worry about losing businesses and jobs in their community because a TIF is being used to lure businesses away.”
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