SB 3183 — RIVER EDGE ZONES

0 sponsors · 1 co-sponsors · 182 not signed on

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Frequently asked questions

What does SB 3183 do?

Creates the River Edge Redevelopment Zone Act. Sets forth procedures for the creation of 2 pilot zones, one in the City of East St. Louis and one in the City of Aurora, to be designated and certified as a River Edge Redevelopment Zone. Sets forth procedures for amendments to and decertifications of zones. Sets forth procedures for the adoption of tax increment financing within a zone. Contains other provisions concerning zone administration. Amends the Department of Commerce and Economic Opportunity Law of the Illinois Civil Administrative Code. Authorized the Department of Commerce and Economic Opportunity to establish and maintain a program to provide grants and assistance with respect to River Edge Redevelopment Zones. Amends the Corporate Accountability For Tax Expenditures Act. Includes, within the definition of "developmental assistance", tax credits, exemptions, grants, and loans concerning River Edge Redevelopment Zones. Amends the Illinois Income Tax Act. Provides that certain existing credits apply to business enterprises within a River Edge Redevelopment Zone. Creates a River Edge Redevelopment Zone site remediation tax credit. Creates a deduction for dividends paid by a corporation that operates within a River Edge Redevelopment Zone. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Creates an exemption for building materials to be incorporated into real estate within a River Edge Redevelopment Zone. In various Acts, exempts the tax credits and deductions for River Edge Redevelopment Zones from tax sunset provisions. Amends the Property Tax Code. Authorizes taxing districts to abate property taxes for property within River Edge Redevelopment Zones. Amends the Environmental Protection Act. Provides that sites within River Edge Redevelopment Zones are included as brownfield sites under the Municipal Brownfields Redevelopment Grant Program. Requires the Environmental Protection Agency to jointly review, with the Department of Commerce and Economic Opportunity, applications for the Environmental Remediation Tax Credit and sets the fee for review at $250 for each site. Increases the maximum brownfield grant from $240,000 to $2,000,000 for River Edge Development Zone sites. Makes other changes. Effective immediately.

Who sponsors SB 3183?

SB 3183 is sponsored by Chris Lauzen.

What is the current status of SB 3183?

This bill died with 94th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

Where can I track SB 3183?

Track SB 3183 free on One Click Politics — get push/email alerts when it moves.