(65 ILCS 5/11-74.4-8c)
Sec. 11-74.4-8c.
Enterprise zone abatements.
If a redevelopment project
area is or has been established under Section 11-74.4-4 on or before the
effective
date
of this amendatory Act of 1997 and the redevelopment project area contains
property that is located within an enterprise zone established under the
Illinois
Enterprise Zone Act, then the property that is located in both the
redevelopment
project area and the enterprise zone shall not be eligible for the abatement of
taxes under Section 18-170 of the Property Tax Code if the requirements of
Section 5.4.1 of the Illinois Enterprise Zone Act are satisfied.
If an abatement is limited under Section 5.4.1 of the Illinois Enterprise
Zone Act, a municipality
shall notify the county clerk and the board of review or board of appeals of
the change in writing not later than July 1 of the assessment year to be first
affected by the change.
(Source: P.A. 90-258, eff. 7-30-97.)
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