Illinois SB3829 amends redevelopment project area criteria and timelines, and restricts business incentives.
Illinois SB3829 modifies the criteria for determining blighted areas by adding unemployment and poverty rates as factors. It restricts municipalities and counties from offering incentives to businesses to relocate within Illinois. The bill also limits the time frame for completing redevelopment projects and mandates quicker distribution of surplus funds. Additionally, it prohibits overlapping redevelopment project areas and establishes the Local Government Business Anti-Poaching Act, effective immediately.
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