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IL HB6143
Bill
Status
1/8/2013
Primary Sponsor
Scott Penny
Click for details
AI Summary
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Amends the Illinois Enterprise Zone Act to allow the Village of Brooklyn and the Village of Fairmont City to add areas within their jurisdictions to the existing East St. Louis/Washington Park Enterprise Zone without requiring contiguity with the current zone boundaries, subject to Department of Commerce and Economic Opportunity approval.
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Exempts these zone expansions in Brooklyn and Fairmont City from the maximum allowable area restrictions that normally apply to enterprise zones under Section 4 of the Act.
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Maintains existing procedures for enterprise zone amendments, including public hearing requirements and Department approval within 90 days of application, while creating this special exception for the two named villages.
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Preserves existing rules that business enterprises and homestead program participants receive tax benefits for the original stated term of the zone, even if the zone is later decertified or reduced.
Legislative Description
ENTERPRISE ZONES-AMENDMENTS
Last Action
Session Sine Die
1/8/2013