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Public Act 92-0212
HB1630 Enrolled LRB9203437TApc
AN ACT concerning economic development.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Development Finance Authority
Act is amended by changing Section 5 as follows:
(20 ILCS 3505/5) (from Ch. 48, par. 850.05)
Sec. 5. All official acts of the Authority shall require
the approval of at least 9 8 members. It shall be the duty of
the Authority to promote employment within those areas of the
State duly certified from time to time by the Department of
Commerce and Community Affairs as areas of critical labor
surplus. To this end the Authority shall utilize the powers
herein conferred upon it to assist in the development and
construction or acquisition of industrial projects within
such areas of the State.
The Authority is hereby authorized to utilize its powers
with respect to prospective industrial projects to be located
at any given time within any general areas then currently
certified by the Department of Commerce and Community Affairs
as areas of critical labor surplus. In addition, upon being
requested to utilize its powers with respect to a prospective
industrial project to be located outside of any areas then
currently certified as areas of critical labor surplus, the
Authority may refer such request to the Department of
Commerce and Community Affairs for its determination as to
whether the proposed location is within any specific area of
critical labor surplus not hitherto generally certified. If
the proposed location is certified by the Department as being
within an area of critical labor surplus, the Authority may
similarly utilize its powers with respect to such prospective
industrial project.
In evaluating the eligibility of any prospective
industrial project to be located within any area of critical
labor surplus, the Authority shall consider, (1) the
financial responsibility of the prospective applicant and
user, and (2) the relationship between the amount of funds to
be provided by exercise of powers of the Authority and the
degree to which the project (A) will contribute to creation
or retention of employment, including employment in the
construction industry, (B) will contribute to the economic
development of the area in which the industrial project is
located and (C) will produce goods or services for which
there is a need or demand.
(Source: P.A. 84-1023.)
Section 99. Effective date. This Act take effect upon
becoming law.
Passed in the General Assembly May 10, 2001.
Approved August 02, 2001.
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