Chapter 20 — EXECUTIVE BRANCH

(20 ILCS 3501/810-10) Sec. 810-10. Definitions. The following terms, whenever used or referred to in this Article, shall have the following meanings ascribed to them, except where the context clearly requires otherwise: (a) "Co-venture investment" means a venture capital or seed …

(20 ILCS 3501/810-15) Sec. 810-15. Illinois Venture Investment Fund. There is created the Illinois Venture Investment Fund, hereafter referred to in this Article as the "Fund". The Treasurer of the Authority shall have custody of the Fund, which shall be held outside of the State…

(20 ILCS 3501/810-20) Sec. 810-20. Powers and Duties; Illinois Venture Investment Fund Limits. The Authority shall invest and reinvest the Fund and the income, thereof, in the following ways: (a) To make a direct investment in qualified securities issued by enterprises and to dis…

(20 ILCS 3501/810-25) Sec. 810-25. Direct and Co-venture Investments. An enterprise seeking a direct investment from the Illinois Venture Investment Fund shall file an application with the Authority along with an applicable fee to be determined by the Authority. A valid applicati…

(20 ILCS 3501/810-30) Sec. 810-30. Investment in Pools of Funds. Proposals for the establishment of pools of funds under paragraph (b) of Section 810-20 of this Act shall be submitted on a form, contain the information, and be accompanied by a fee as prescribed by the Authority. …

(20 ILCS 3501/810-35) Sec. 810-35. Documentary materials concerning trade secrets; Commercial or financial information; Confidentiality. Any documentary materials or data made or received by any member, agent or employee of the Authority, to the extent that such material or data …

(20 ILCS 3501/810-40) Sec. 810-40. Tax Exemption. The Illinois Venture Investment Fund and all its proceeds shall be and are hereby declared exempt from all franchise and income taxes levied by the State, provided nothing herein shall be construed to exempt from any such taxes, o…

(20 ILCS 3501/810-5) Sec. 810-5. Findings and Declaration of Policy. It is hereby found and declared that a continuing need exists to maintain and develop the State's economy; that assisting and encouraging economic development through private enterprise will help to create and m…

(20 ILCS 3501/815-10) Sec. 815-10. Definitions. The following terms, whenever used or referred to in this Article, shall have the following meanings ascribed to them, except where the context clearly requires otherwise: (a) "Property" means land, parcels or combination of parcels…

(20 ILCS 3501/815-15) Sec. 815-15. Illinois Land Bank Fund; Creation; Use. There is hereby created the Illinois Land Bank Fund, hereafter referred to in Sections 815-15 through 815-30 of this Act as the "Fund". The Treasurer of the Authority shall have custody of the Fund, which …

(20 ILCS 3501/815-20) Sec. 815-20. Powers and Duties. (a) The Authority shall have the following powers with respect to redevelopment areas: (1) To acquire and possess property in a redevelopment area; (2) To clear any such areas so acquired by demolition of existing structures a…

(20 ILCS 3501/815-25) Sec. 815-25. Development Plans. (a) No development plan shall be approved by the Authority unless after a public hearing held upon notice published in a newspaper of general circulation in the county where the property is located, the Authority finds: (1) Th…

(20 ILCS 3501/815-30) Sec. 815-30. Local Planning; Relocation Costs. The Authority may arrange or contract with a municipality or municipalities for the planning, re-planning, opening, grading or closing of streets, roads, alleys or other places or for the furnishing of facilitie…

(20 ILCS 3501/815-5) Sec. 815-5. Findings and Declaration of Policy. It is hereby found and declared that there exists within the State a condition of substantial and persistent unemployment which is detrimental to the welfare of the people of the State; that the absence of an or…

(20 ILCS 3501/820-10) Sec. 820-10. Definitions. The following words or terms, whenever used or referred to in this Article, shall have the following meanings ascribed to them, except where the context clearly requires otherwise: (a) "Department" means the Illinois Department of C…

(20 ILCS 3501/820-15) Sec. 820-15. Creation of Reserve Funds. The Authority may establish and maintain one or more reserve funds in which there may be one or more accounts in which there may be deposited: (a) Any proceeds of bonds issued by the Authority required to be deposited …

(20 ILCS 3501/820-20) Sec. 820-20. Powers and Duties; Illinois Local Government Financing Assistance Program. The Authority has the power: (a) To purchase from time to time pursuant to negotiated sale or to otherwise acquire from time to time any local government securities issue…

(20 ILCS 3501/820-25) Sec. 820-25. Unit of Local Government Participation. Any unit of local government is authorized to voluntarily participate in this program. Any unit of local government which is authorized to issue, sell and deliver its local government securities under any …

(20 ILCS 3501/820-30) Sec. 820-30. Criteria for Participation in the Program. If the Authority requires an application for participation in the Program, upon submission of any such application, the Authority or any entity on behalf of the Authority shall review such application f…

(20 ILCS 3501/820-35) Sec. 820-35. The Authority may assist the Department to establish and implement a program to assist units of local government to identify and arrange financing for energy conservation projects in buildings and facilities owned or leased by units of local gov…

(20 ILCS 3501/820-40) Sec. 820-40. Investment of moneys. Any moneys at any time held by the Authority pursuant to this Article shall be held outside the State treasury in the custody of either the Treasurer of the Authority or a trustee or depository appointed by the Authority. S…

(20 ILCS 3501/820-45) Sec. 820-45. Pledge of Revenues by the Authority. Any pledge of revenues or other moneys made by the Authority shall be binding from the time the pledge is made. Revenues and other moneys so pledged shall be held outside of the State treasury and in the cust…

(20 ILCS 3501/820-5) Sec. 820-5. Findings and Declaration of Policy. It is hereby found and declared that there exists an urgent need to upgrade and expand the capital facilities, infrastructure and public purpose projects of units of local government and to promote other public …

(20 ILCS 3501/820-50) (Text of Section before amendment by P.A. 104-457) Sec. 820-50. Pledge of Funds by Units of Local Government. (a) Pledge of Funds. Any unit of local government which receives funds from the Department of Revenue, including without limitation funds received p…

(20 ILCS 3501/820-55) Sec. 820-55. Eligible Investments. Bonds, issued by the Authority pursuant to the provisions of this Article, shall be permissible investments within the provisions of Section 805-40 of this Act. (Source: P.A. 93-205, eff. 1-1-04.)

(20 ILCS 3501/820-60) Sec. 820-60. Tax Exemption. The exercise of powers granted in this Article is in all respects for the benefit of the people of Illinois and in consideration thereof the bonds issued pursuant to the aforementioned Sections and the income therefrom shall be fr…

(20 ILCS 3501/825-10) Sec. 825-10. The Authority may develop a program for financing the production of motion pictures in the State of Illinois. All projects financed by the Authority shall require the approval of both the Illinois Arts Council and the Authority. (Source: P.A. 93…

(20 ILCS 3501/825-100) Sec. 825-100. School Wind and Solar Generation Program. (a) There is created the School Wind and Solar Generation Program to fund wind generation projects and solar generation projects for school districts and community college districts. The Authority may …

(20 ILCS 3501/825-105) Sec. 825-105. Illiana Expressway financing. For the purpose of financing the Illiana Expressway under the Public Private Agreements for the Illiana Expressway Act, the Authority is authorized to apply for an allocation of tax-exempt bond financing authoriza…

(20 ILCS 3501/825-106) Sec. 825-106. Transportation project financing. For the purpose of financing a transportation project undertaken under the Public-Private Partnerships for Transportation Act, the Authority is authorized to apply for an allocation of tax-exempt bond financin…

(20 ILCS 3501/825-106.5) Sec. 825-106.5. South Suburban Airport financing. For the purpose of financing the South Suburban Airport under the Public-Private Agreements for the South Suburban Airport Act, the Authority is authorized to apply for an allocation of tax-exempt bond fin…

(20 ILCS 3501/825-107) Sec. 825-107. Implementation of ARRA provisions regarding recovery zone bonds. (a) Findings. Recovery zone bonds authorized by the American Recovery and Reinvestment Act of 2009 are an important economic development tool for the State. All counties in the S…

(20 ILCS 3501/825-108) Sec. 825-108. Transportation project financing. For the purpose of financing a transportation facility undertaken under the Innovations for Transportation Infrastructure Act, the Authority may apply for an allocation of tax-exempt bond financing authorizati…

(20 ILCS 3501/825-110) Sec. 825-110. Implementation of ARRA provisions regarding qualified energy conservation bonds. (a) Definitions. (i) "Affected local government" means any county or municipality within the State if the county or municipality has a population of 100,000 or mo…

(20 ILCS 3501/825-115) Sec. 825-115. (Repealed). (Source: P.A. 97-971, eff. 1-1-13. Repealed internally, eff. 12-31-19.)

(20 ILCS 3501/825-12) Sec. 825-12. Conservation projects. (a) The Authority may develop a program to provide low-interest loans and other financing to individuals, business entities, private organizations, and units of local government for conservation projects within the United …

(20 ILCS 3501/825-13) Sec. 825-13. Supervision of the Riverdale Development Authority bond issuances. (a) All bond issuances of the Riverdale Development Authority are subject to supervision, management, control, and approval of the Authority. (b) All bonds issued by the Riverdal…

(20 ILCS 3501/825-13.5) Sec. 825-13.5. Supervision of the Illinois Urban Development Authority bond issuances. (a) All bond issuances of the Illinois Urban Development Authority are subject to supervision, management, control, and approval of the Authority. (b) All bonds issued b…

(20 ILCS 3501/825-15) Sec. 825-15. (Repealed). (Source: P.A. 93-205, eff. 1-1-04. Repealed by P.A. 94-91, eff. 7-1-05.)

(20 ILCS 3501/825-20) Sec. 825-20. Financially Distressed City Assistance Program; Findings and Declarations of Policy. It is hereby found and declared that there exists an urgent need to reduce involuntary unemployment and economic stagnation within financially distressed cities…

(20 ILCS 3501/825-25) Sec. 825-25. Definition. As used in Sections 825-20 through 825-60 of this Act, the term "financially distressed city" means a unit of local government which has been certified and designated as a financially distressed city under Section 8-12-4 of the Illin…

(20 ILCS 3501/825-30) Sec. 825-30. Powers and Duties; Financing. (a) Upon application of the financial advisory authority established for a financially distressed city under Division 12 of Article 8 of the Illinois Municipal Code, the Authority shall have the power to issue its b…

(20 ILCS 3501/825-35) Sec. 825-35. Pledge of Funds. Any financially distressed city which receives funds from the Department of Revenue, including without limitation funds received pursuant to Section 8-11-1, 8-11-5 or 8-11-6 of the Illinois Municipal Code or Section 2 or 12 of t…

(20 ILCS 3501/825-40) Sec. 825-40. Additional security. In the event that the Authority determines that funds pledged, intercepted or otherwise received or to be received by the Authority under Section 825-20 of this Act will not be sufficient for the payment of the principal, pr…

(20 ILCS 3501/825-5) Sec. 825-5. Motion Picture Production Program; Findings and Declaration of Policy. It is hereby found and declared that the production of motion pictures has an enormous potential for contributing to the economic well-being of the State and its communities; t…

(20 ILCS 3501/825-50) Sec. 825-50. Eligible Investments. Bonds issued by the Authority pursuant to Sections 825-20 through 825-60 shall be permissible investments within the provisions of Section 805-40. (Source: P.A. 93-205, eff. 1-1-04.)

(20 ILCS 3501/825-55) Sec. 825-55. Tax Exemption. The exercise of the powers granted in Sections 825-20 through 825-60 are in all respects for the benefit of the people of Illinois, and in consideration thereof shall be free from all taxation by the State or its political subdivi…

(20 ILCS 3501/825-60) Sec. 825-60. Financially Distressed City Assistance Program Limitation. In addition to the bonds authorized to be issued under Sections 801-40(w), 825-65(e), 830-25 and 845-5, the Authority may have outstanding at any time, bonds for the purposes enumerated …

(20 ILCS 3501/825-65) Sec. 825-65. Clean Coal, Coal, Energy Efficiency, PACE, and Renewable Energy Project Financing. (a) Findings and declaration of policy. (i) It is hereby found and declared that Illinois has abundant coal resources and, in some areas of Illinois, the demand f…

(20 ILCS 3501/825-70) Sec. 825-70. Criteria for participation in the program. Applications to the Authority for financing of any Clean Coal, Coal, Energy Efficiency Project, or Renewable Energy Project shall be reviewed by the Authority. Upon submission of any such application, t…