SPRINGFIELD – Aurora would be punished for its economic development efforts if Gov. Bruce Rauner’s amendatory veto of Senate Bill 1 is approved by legislators.
“Bruce Rauner has achieved what was once thought unachievable. With the stroke of a pen, he stirred up havoc for both small businesses and public schools across Illinois” Holmes said.
Under Rauner’s plan, special economic development funds known as Tax Increment Financing districts (TIFs), would be counted against the state support school districts receive. Because school districts generally don’t have access to TIF revenue, they would effectively receive less state funding because communities with TIFs would appear to have more available resources than they can access.
Rauner’s short-sighted plan, which was only exposed this week, punishes Illinois communities in need of both economic development and increased state investment for schools.
“It’s remarkable that Bruce Rauner is championing a plan that not only reduces funding for schools, but also handicaps incentives to create jobs in virtually every Illinois community,” State Senator Linda Holmes (D – Aurora) said. “By penalizing communities for using available tools to fight blight and improve the business climate, Rauner yet again reveals his commitment to pitting neighbor against neighbor while creating uncertainty in public institutions.”
Rauner’s amendatory veto penalizes hundreds of Illinois communities who desperately need adequate education funding and aggressive economic development tools. Aurora currently has seven TIF districts.
Because Rauner has kept the details of his plans quiet from lawmakers and the media until this week, it is unclear how much state investment Aurora potentially loses out on. Holmes says it has little merit while students, parents and schools need the stability to open – and stay open – within days.
For a full listing of TIF districts throughout Illinois, click here:
