Good afternoon!
Yesterday, the House passed House Bill 910, also known as the Megaprojects Bill. This bill continues conversations to keep the Chicago Bears in Illinois, and opens the door for other large-scale economic development across Illinois.
After reviewing this bill and many discussions with experts in economic development, I decided to vote in support of this bill. This was not a decision I took lightly, and I want to update everyone on why I made this call.
This bill does two things that I support: it protects local control, and it increases economic development across Illinois.
Local Control
Since day one in office, I have promised to stand in favor of increased local control in Illinois. Our communities are sick and tired of unfunded mandates passed down from out-of-touch legislators. This bill gives local voices a seat at the table, and taxpayers would be able to see whether these agreements are working.
Here is what the bill does to protect local control:
- Demands the creation of local review boards, comprised of representatives from local units of government, before any megaproject can move forward.
- Requires a public impact analysis to be conducted every five years, which will create long-term transparency and accountability.
Economic Development
House Bill 910 will also increase economic development and drive investments statewide. To be clear, this bill is not a subsidy. It’s a structured agreement designed to attract large-scale investment while putting safeguards in place for taxpayers.
Here is how this bill will increase economic development:
- Megaprojects investing at least $100 million could negotiate a limited Payment in Lieu of Taxes (PILOT), opening the door to billions in potential investment.
- Increased investment will attract businesses and development, growing our tax base and creating new jobs.
This bill is now moving to the Senate. There is potential room for future amendments to this bill after continued discussions with stakeholders, including the Chicago Bears.
I will continue to keep you updated via this e-newsletter, my website, and my Facebook page.