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90_SB0073eng New Act. Creates the Economic Development Act. Contains the short title only. LRB9001482MWpc SB73 Engrossed LRB9001482MWpc 1 AN ACT to create the Economic Development Act. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 1. Short title. This Act may be cited as the 5 Economic Development Act.