SPRINGFIELD, Ill. – Legislation backed by state Rep. Terra Costa Howard, D-Glen Ellyn, which will allow local governments to use hotel tax revenues to promote economic development, was recently signed into law by Gov. J.B. Pritzker.
“This legislation provides a smart solution to help fund much-needed infrastructure improvement projects and invest in new economic development initiatives,” said Costa Howard. “I am proud to have passed this bipartisan legislation, which will give local governments discretion to invest in our communities and create jobs while holding the line on property taxes.”
Costa Howard’s Senate Bill 1217 will allow local governments in DuPage County to invest a portion of hotel tax revenues on capital infrastructure or economic development projects. Previously, hotel tax revenues were restricted to promoting tourism and conventions within each hotel’s home municipality.
“The Village of Lombard is excited and thankful that this legislation is now law, allowing our community to allocate more resources towards the attraction of new developments throughout the region, including in the area around Yorktown Mall,” said Lombard Village President Keith Giagnario. “Our local economy is heavily based on retail business, which is facing the challenge of online sales. Under this new law, we have additional tools to help us maintain our status as a regional shopping and tourism destination and to improve our bottom line through the encouragement of new business.”