Illinois Taxpayer Investment Protection Act authorizes property tax agreements and infrastructure support for qualifying projects.

The Illinois Taxpayer Investment Protection Act establishes a framework for negotiated property tax agreements (NPT) and infrastructure support for qualifying projects. A qualifying project must involve private capital investment exceeding $2.5 billion and create at least 500 full-time jobs. The Act mandates a fiscal neutrality certification by the Commission on Government Forecasting and Accountability or an independent fiscal reviewer. NPT agreements provide for a single annual payment in lieu of property taxes on project improvements.

Illinois Taxpayer Investment Protection Act authorizes property tax agreements and infrastructure support for qualifying projects.

The Illinois Taxpayer Investment Protection Act establishes a framework for negotiated property tax agreements (NPT) and infrastructure support for qualifying projects. A qualifying project must involve private capital investment exceeding $2.5 billion and create at least 500 full-time jobs. The Act mandates a fiscal neutrality certification by the Commission on Government Forecasting and Accountability or an independent fiscal reviewer. NPT agreements provide for a single annual payment in lieu of property taxes on project improvements.