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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.
Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
(110 ILCS 305/180) Sec. 180. Innovation center. The Board of Trustees, directly or in cooperation with the University of Illinois at Springfield Innovation Center partners, which shall consist of other institutions of higher education, not-for-profit organizations, businesses, and local governments, may finance, design, construct, enlarge, improve, equip, complete, operate, control, and manage a University of Illinois at Springfield Innovation Center (UIS Innovation Center), which is a facility or facilities dedicated to fostering and supporting innovation in academics, entrepreneurship, workforce development, policy development, and non-profit or philanthropic activities. Notwithstanding any other provision of law, the UIS Innovation Center (1) may be located on land owned by the Board of Trustees or a University of Illinois at Springfield Innovation Center partner; and (2) shall have costs incurred in connection with the design, construction, enlargement, improvement, equipping, and completion of the business incubation and innovation facilities paid with funds appropriated to the Capital Development Board from the Build Illinois Bond Fund for a grant to the Board of Trustees for the UIS Innovation Center. If the UIS Innovation Center is located on land owned by a University of Illinois at Springfield Innovation Center partner, the Board of Trustees must have an ownership interest in the facility or facilities or a portion thereof. An ownership interest shall bear a reasonable relationship to the proportional share of the costs paid by such grant funds for a term equal to at least the useful life of the innovation facilities.(Source: P.A. 103-588, eff. 6-5-24; 104-417, eff. 8-15-25.) |