SPRINGFIELD- State Senator Napoleon Harris III (D-Harvey) led a measure that was signed into law today that would extend tax increment financing for the City of Oak Forest until 2037. Currently, the TIF is set to expire in 2025.

“Oak Forest is a prime example of a product of the recession. They were hit hard and are still recovering,” Harris said. “They just need a little push. That is why I sponsored this measure to help them revitalize their economy, continue their development projects and keep them going in the right direction.”

TIF districts are important for cities and towns going through economic trouble. They help attract private investment and bring new businesses to help with economic expansion.

“As a small business owner myself, I know first-hand the impact they can bring on revitalizing local economies,” Harris added. “We need to make sure economic growth and expansion continues. “
House Bill 4423 goes into effect immediately.

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State Sen. Napoleon Harris, D-Harvey, issued the following statement Wednesday  morning after voting in favor of a comprehensive P-12 funding package that passed the Illinois Senate 37-19.

“Our schools have waited in uncertainty for too long, wondering whether or not they would be able to open their doors this fall,” Harris said. “We approved this plan to fulfill our duty to Illinois students and to take the first step in compromising with the governor on a budget.

“It is unfortunate that the Senate did not approve funding for human services and universities tonight, but this fight is not over. I’m determined to return and debate in favor of full funding for these essential services that support our most promising students and protect our most vulnerable citizens.”

SPRINGFIELD- State Senator Napoleon Harris III (D-Harvey) passed a measure through the Illinois Senate on Tuesday that would extend tax increment financing for the City of Oak Forest until 2037. Currently the TIF is set to expire in 2025.

“Oak Forest is a prime example of a product of the recession. They were hit hard and are still recovering,” Harris said. “They just need a little push. That is why I sponsored this measure to help them revitalize their economy, continue their development projects and keep them going in the right direction.”

TIF districts are important for cities and towns going through economic trouble. They help attract private investment and bring new businesses to help with economic expansion.

“As a small business owner myself, I know first-hand the impact they can bring on revitalizing local economies,” Harris added. “We need to make sure economic growth and expansion continues. “
The measure, House Bill 4423, passed the Senate with a vote of 55 to 0. It now goes to the governor for consideration.

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