Bill Status of SB1601 97th General Assembly
Short Description: ENTERPRISE ZONE-EXTEND 20 YRS
Sen. Michael W. Frerichs - Pamela J. Althoff
| 1/8/2013||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Enterprise Zone Act. Provides that an Enterprise Zone may be extended for an additional 20 years upon application by the corporate authorities of the county or municipality that designated the Enterprise Zone. Amends the Retailers' Occupation Tax Act. Provides that exemptions granted under the Act for tangible personal property used or consumed in an Enterprise Zone may be in effect for not more than 50 (instead of 20) years. Amends the Public Utilities Act to make conforming changes in provisions concerning tax exemptions for businesses located in Enterprise Zones.