SB4018 amends the Illinois Enterprise Zone Act to establish STAR bond districts for economic development.
SB4018 amends the Illinois Enterprise Zone Act to create STAR bond districts for economic development. Political subdivisions can establish these districts to finance projects through STAR bonds, which are repaid using pledged sales tax revenues. The bill outlines the process for establishing a STAR bond district, including the submission of a STAR bond district plan for review and approval by the Department, the Department of Revenue, and the Governor's Office of Management and Budget.
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