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Committee on Finance

City to pay $325,000 to hemophiliac beaten by cop, falsely charged with DUI

TIF accountability ordinance tabled

Ald. Ameya Pawar (47th), the sponsor of an ordinance to increase online information about the Chicago Tax Increment Finance program, vowed on Monday that the measure would pass and that Council members are working with Mayor Rahm Emanuel’s office on amendments that yet further TIF reporting requirements.

Chicago program to reward reports of fly dumping advances

A measure creating a two-year pilot program under which people who report fly dumping would be eligible for a $100 reward passed through the City Council Finance Committee Monday.

Terms for enterprise zones extended by Committee on Finance

The lifespan of some of the city's "enterprise zones" would be extended under legislation approved Monday by the City Council Committee on Finance.

Mandated by the state, enterprise zones are special areas that offer a number of tax exemptions and credits to businesses — many from the manufacturing sector — that are located within the zones’ boundaries. There are currently 95 enterprise zones in Illinois, six of which are located in Chicago.

Finance committee votes “yea” for restructured garage parking tax

The City Council Committee on Finance signed off on a plan Monday that would replace the flat tax on garage and lot parking with a progressive tax system based on parking rates. The potential effects of the proposal on Chicago’s hospitality and garage industries remain in question, however.

The approved proposal would switch the city’s current tax for parking in a garage or a lot from a flat rate to a rate based on a percentage of the fee charged by the parking lot operator.