Establishes STAR bond districts and megaprojects to promote economic development in Illinois.
The bill amends the Statewide Innovation Development and Economy Act to create STAR bond districts and megaprojects. It outlines the criteria for establishing a STAR bond district, including the need for a feasibility study and approval by the Department of Commerce and Economic Opportunity, the Department of Revenue, and the Governor's Office of Management and Budget. The bill also sets requirements for megaprojects, including minimum investment and job creation thresholds, and establishes a process for approving STAR bond projects.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.