State of Illinois
92nd General Assembly
Legislation

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[ Introduced ][ Engrossed ][ House Amendment 001 ]

92_HB1630enr

 
HB1630 Enrolled                                LRB9203437TApc

 1        AN ACT concerning economic development.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois  Development  Finance  Authority
 5    Act is amended by changing Section 5 as follows:

 6        (20 ILCS 3505/5) (from Ch. 48, par. 850.05)
 7        Sec. 5.  All official acts of the Authority shall require
 8    the approval of at least 9 8 members. It shall be the duty of
 9    the Authority to promote employment within those areas of the
10    State  duly  certified from time to time by the Department of
11    Commerce and Community Affairs as  areas  of  critical  labor
12    surplus.  To  this end the Authority shall utilize the powers
13    herein conferred upon it to assist  in  the  development  and
14    construction  or  acquisition  of  industrial projects within
15    such areas of the State.
16        The Authority is hereby authorized to utilize its  powers
17    with respect to prospective industrial projects to be located
18    at  any  given  time  within any general areas then currently
19    certified by the Department of Commerce and Community Affairs
20    as areas of critical labor surplus. In addition,  upon  being
21    requested to utilize its powers with respect to a prospective
22    industrial  project  to  be located outside of any areas then
23    currently certified as areas of critical labor  surplus,  the
24    Authority  may  refer  such  request  to  the  Department  of
25    Commerce  and  Community  Affairs for its determination as to
26    whether the proposed location is within any specific area  of
27    critical  labor  surplus not hitherto generally certified. If
28    the proposed location is certified by the Department as being
29    within an area of critical labor surplus, the  Authority  may
30    similarly utilize its powers with respect to such prospective
31    industrial project.
 
HB1630 Enrolled             -2-                LRB9203437TApc
 1        In   evaluating   the   eligibility  of  any  prospective
 2    industrial project to be located within any area of  critical
 3    labor   surplus,   the  Authority  shall  consider,  (1)  the
 4    financial responsibility of  the  prospective  applicant  and
 5    user, and (2) the relationship between the amount of funds to
 6    be  provided  by  exercise of powers of the Authority and the
 7    degree to which the project (A) will contribute  to  creation
 8    or  retention  of  employment,  including  employment  in the
 9    construction industry, (B) will contribute  to  the  economic
10    development  of  the  area in which the industrial project is
11    located and (C) will produce  goods  or  services  for  which
12    there is a need or demand.
13    (Source: P.A. 84-1023.)

14        Section  99.   Effective date.  This Act take effect upon
15    becoming law.

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