Bill > SB1309

This bill amends the River Edge Redevelopment Zone Act to allow the Department of Commerce and Economic Opportunity to certify one additional pilot River Edge Redevelopment Zone specifically in the City of Sterling. River Edge Redevelopment Zones are special designated areas intended to promote economic development, with each zone being effective for up to 30 calendar years upon certification by the state department. The bill adds Sterling to the list of cities that can have a pilot zone, joining other previously authorized cities like East St. Louis, Rockford, Aurora, Elgin, Peoria, Joliet, Kankakee, and others. After certifying this additional zone for Sterling, the department will be prohibited from creating any more new River Edge Redevelopment Zones, though it can continue to amend or rescind existing zone certifications. When a zone's term expires, it becomes an open enterprise zone, with no preferential treatment given to its previous designation.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1309&GAID=18&DocTypeID=SB&SessionID=114&GA=104