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91_HB2147
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1 AN ACT with regard to economic development.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Civil Administrative Code of Illinois is
5 amended by changing Section 46.5a as follows:
6 (20 ILCS 605/46.5a) (from Ch. 127, par. 46.5a)
7 Sec. 46.5a. Encourage creation or retention of full-time
8 jobs. To encourage the creation or retention of not less
9 than 2,000 full-time equivalent jobs and that private
10 investment in the amount of not less than $100,000,000 shall
11 occur in an economic development project area as defined in
12 the Economic Development Area Tax Increment Allocation Act:
13 by securing by acquisition, gift, grant, exchange, or
14 purchase the rights of way, easements and such fee simple
15 titles as may be necessary to any and all real property
16 required for site acquisition for use in retaining such
17 industry or business concern; by improving or arranging to
18 improve real property so acquired, including but not limited
19 to local public infrastructure improvements; private
20 structural improvements on the land; and by leasing or
21 conveying such land, or interest in land, so acquired and so
22 improved.
23 For the purpose of this Section, "local public
24 infrastructure improvements" means local roads and streets,
25 access roads, bridges, and sidewalks; waste disposal systems,
26 water and sewer line extensions, water distribution and
27 purification facilities, and sewage treatment facilities;
28 rail or air or water port improvements; gas and electric
29 utility facilities; transit capital facilities; development
30 and improvement of publicly owned industrial and commercial
31 sites; or other public capital improvements which are an
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1 essential precondition to a business retention of that
2 industry or business concern as defined in this Section.
3 (Source: P.A. 86-38.)