Illinois Compiled Statutes 20 Executive Branch: Article -

• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 1
  This Act shall be known and may be cited as the "Illinois Enterprise Zone Act". (Source: P.A. 82-1019.)
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 2
  The General Assembly finds and declares that the health, safety and welfare of the people of this State are dependent upon a healthy economy...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 3
  Definitions. As used in this Act, the following words shall have the meanings ascribed to them, unless the context otherwise requires: (a) "Department" means the...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 4
  Qualifications for Enterprise Zones. (1) An area is qualified to become an enterprise zone which: (a) is a contiguous area, provided that a zone area...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 4.1
  Department recommendations. (a) For all applications that qualify under Section 4 of this Act, the Department shall issue recommendations by assigning a score to each...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5
  Initiation of Enterprise Zones by Municipality or County. (a) No area may be designated as an enterprise zone except pursuant to an initiating ordinance...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.1
  Application to Department. A county or municipality which has adopted an ordinance designating an area as an enterprise zone shall make written application to...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.2
  Department Review of Enterprise Zone Applications. (a) All applications which are to be considered and acted upon by the Department during a calendar year must...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.2.1
  Enterprise Zone Board. (a) An Enterprise Zone Board is hereby created within the Department. (b) The Board shall consist of the following 5 members: (1)...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.3
  Certification of Enterprise Zones; Effective date. (a) Certification of Board-approved designated Enterprise Zones shall be made by the Department by certification of the designating ordinance....
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.4
  Amendment and Decertification of Enterprise Zones. (a) The terms of a certified enterprise zone designating ordinance may be amended to (i) alter the boundaries...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.4.1
  Adoption of Tax Increment Financing. (a) If (i) a redevelopment project area is, will be, or has been created by a municipality under Division...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 5.5
  High Impact Business. (a) In order to respond to unique opportunities to assist in the encouragement, development, growth and expansion of the private sector through...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 6
  Powers and Duties of Department. (A) General Powers. The Department shall administer this Act and shall have the following powers and duties: (1) To monitor...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 7
  State Incentives Regarding Public Services and Physical Infrastructure. (a) This Act does not restrict tax incentive financing pursuant to the "Tax Increment Allocation Redevelopment...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 8
  Zone Administration. The administration of an Enterprise Zone shall be under the jurisdiction of the designating municipality or county. Each designating municipality or county...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 8.1
  Accounting. (a) Any business receiving tax incentives due to its location within an Enterprise Zone or its designation as a High Impact Business must annually...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 8.2
  Zone Administrator. (a) Each Zone Administrator designated under Section 8 of this Act shall post a copy of the boundaries of the Enterprise Zone on...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 9
  State Regulatory Exemptions In Enterprise Zones. (a) The Department shall conduct an ongoing review of such agency rules and regulations that may be identified...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 9.1
  State and Local Regulatory Alternatives. (a) Agencies may provide in their rules and regulations for (i) the exemption of business enterprises within Enterprise Zones...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 9.2
  Exemptions from Regulatory Relaxation. (a) Section 9 and subsection (a) of Section 9.1 do not apply to rules and regulations promulgated pursuant to: (i)...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 10
  Sale of Publicly-Owned Real Property in an Enterprise Zone. Once an area becomes an Enterprise Zone, pursuant to provisions contained in the Enterprise Zone...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 11
  (a) A business entity may receive a deduction against income subject to state taxes for a contribution to a designated zone organization if the...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 11.1
  Any business located within the Enterprise Zone which has received tax credits or exemptions, regulatory relief or any other benefits under this Act shall...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-1
  Sections 12-1 through 12-10 of this Act shall be known and may be cited as the "Enterprise Zone Loan Act". (Source: P.A. 84-165.)
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-2
  Definitions. Unless the context clearly requires otherwise: (a) "Financial institution" means a trust company, a bank, a savings bank, a credit union, an investment bank,...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-3
  Powers and Duties. The Department has the power to: (a) Provide loans from the funds appropriated to a business undertaking a project and accept...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-4
  Loans. Any loan made under this Act shall: (a) Be made only if a participating lender, or other funding source including the applicant, also...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-5
  Loan Applications. Applications for loans shall be submitted to the Department on forms and subject to filing fees prescribed by the Department. The Department...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-6
  Enterprise Zone Loan Fund. (a) There is hereby created the Enterprise Zone Loan Fund to be held as part of the State Treasury. The...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-7
  Construction. Nothing in this Act shall be construed as creating any rights of a competitor of an approved borrower or any applicant whose application...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-8
  Confidentiality. Any documentary materials or data made or received by any member, agent or employee of the Department shall be deemed to be confidential...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-9
  Report. On January l of each year, the Department shall report on its operation of the Fund for the preceding fiscal year to the...
• Illinois Enterprise Zone Act. - 20 ILCS 655, Section 12-10
  Federal Programs. The Department is authorized to accept and expend federal monies pursuant to this Act except that terms and conditions hereunder which are...

Last modified: February 18, 2015