Illinois Compiled Statutes 20 Executive Branch: Article -

• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 1
  Short title. This Act shall be known and may be cited as the Economic Development Area Tax Increment Allocation Act. (Source: P.A. 86-38.)
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 2
  Legislative declaration of public purpose. The General Assembly hereby finds, determines and declares: (a) that the loss of job opportunities for the residents of...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 3
  Definitions. In this Act, words or terms shall have the following meanings unless the context or usage clearly indicates that another meaning is intended. (a)...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 4
  Establishment of economic development project areas; ordinance; notice; hearing; changes in economic development plan. Economic development project areas shall be established as follows: (a) The...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 4.5
  Recapture. (a) In the event that the developer terminates all of its operations and vacates the redevelopment area within 60 months after the effective date...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 4.7
  Municipal reports. After the effective date of this amendatory Act of the 97th General Assembly, a municipality shall submit in an electronic format all of...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 5
  Submission to Department; certification by Department; limitation on number of permissible economic development project areas. (a) The municipality shall submit certified copies of any ordinances...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 6
  Filing with county clerk; certification of initial equalized assessed value. (a) The municipality shall file a certified copy of any ordinance authorizing tax increment allocation...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 7
  Creation of special tax allocation fund. If a municipality has adopted tax increment allocation financing for an economic development project area by ordinance, the county...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 8
  Issuance of obligations for economic development project costs. Obligations secured by the special tax allocation fund provided for in Section 7 of this Act for...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 8a
  Cancellation and repayment of tax benefits. Any tax abatement or benefit granted by a taxing district under an agreement entered into under this Act...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 9
  Powers of municipalities. In addition to powers which it may now have, any municipality has the power under this Act: (a) To make and enter...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 9.5
  Eminent domain. Notwithstanding any other provision of this Act, any power granted under this Act to acquire property by condemnation or eminent domain is subject...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 10
  Conflicts of interest; disclosure. If any member of the corporate authorities of a municipality, or any employee or consultant of the municipality involved in...
• Illinois Economic Development Area Tax Increment Allocation Act. - 20 ILCS 620, Section 11
  Payment of project costs; revenues from governmental property. Revenues received by a taxing district from any property, building or facility owned, leased or operated by...

Last modified: February 18, 2015