IL SB4030

Municipalities within 10 miles of Illinois state borders may apply to the Department of Commerce and Economic Opportunity for certification as "border communities" if they demonstrate population decline, elevated poverty levels, and declining business establishments or employment over a 10-year period.

Certified border communities would receive investment tax credits currently available to River Edge Redevelopment Zones, plus a new border community construction jobs credit under the Illinois Income Tax Act.

Building materials incorporated into real property within border communities would be exempt from Use Tax, Service Use Tax, Service Occupation Tax, and Retailers' Occupation Tax.

Property located in certified border communities would qualify for property tax abatements under amendments to the Property Tax Code.

The Department of Commerce and Economic Opportunity must assess and report annually to the Governor and General Assembly on the fiscal impact of border community incentives by December 31 of each year a certified border community is in effect.