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SB1097 Engrossed |
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LRB095 06030 BDD 26122 b |
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| AN ACT concerning economic development.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Department of Commerce and Economic |
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| Opportunity Law of the
Civil Administrative Code of Illinois is |
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| amended by adding Section 605-312 as follows:
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| (20 ILCS 605/605-312 new) |
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| Sec. 605-312. Advanced science and technology study. |
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| Subject to appropriation, the Department may conduct a research |
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| study regarding the creation of advanced science zones and |
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| other innovative policy proposals to encourage the creation of |
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| appropriately compensated high-skill and high-technology jobs |
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| in Illinois. The purpose of the study is to explore ways and |
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| means of stimulating growth, stabilization, and retention of |
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| advanced sciences in the State by means of relaxed government |
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| controls and tax incentives in those areas. The study shall |
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| provide, but not be limited to, detailed information including |
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| best practices for the creation and administration of advanced |
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| science zones in Illinois. The research study may also include |
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| data regarding the creation of financing programs and tax |
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| incentives for businesses and institutions located within |
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| advanced science zones. A copy of the completed research report |
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| shall be made available to members of the General Assembly upon |