Illinois HB5500 amends the Illinois Enterprise Zone Act to establish STAR bond districts and projects for economic development.
HB5500 amends the Illinois Enterprise Zone Act to create STAR bond districts and projects for economic development. Political subdivisions can establish STAR bond districts to finance projects through STAR bonds. The bill outlines the process for establishing STAR bond districts, including the preparation of a STAR bond district plan and obtaining approval from the Department of Commerce and Economic Opportunity, the Department of Revenue, and the Governor's Office of Management and Budget.
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- Legal Framework
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