Economic Development Area Tax Increment Allocation Act

Illinois · Executive Branch · §§ 20-620-1 to 20-620-9-5 · 15 sections

Sections covered

20 ILCS 620/1Short title
20 ILCS 620/10Conflicts of interest; disclosure
20 ILCS 620/11Payment of project costs; revenues from governmental property
20 ILCS 620/2Legislative declaration of public purpose
20 ILCS 620/3Definitions
20 ILCS 620/4Establishment of economic development project areas; ordinance; notice; hearing; changes in economic development plan
20 ILCS 620/4.5Recapture
20 ILCS 620/4.7Municipal reports
20 ILCS 620/5Submission to Department; certification by Department; limitation on number of permissible economic development project areas
20 ILCS 620/6Filing with county clerk; certification of initial equalized assessed value
20 ILCS 620/7Creation of special tax allocation fund
20 ILCS 620/8Issuance of obligations for economic development project costs
20 ILCS 620/8aCancellation and repayment of tax benefits
20 ILCS 620/9Powers of municipalities
20 ILCS 620/9.5Eminent domain

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