Illinois General Assembly - Illinois Compiled Statutes

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30 ILCS 558/25-50

(30 ILCS 558/25-50)

Sec. 25-50. Payment to the private entity.

(a) Notwithstanding anything in the public-private agreement to the contrary: (1) the civic build cost shall not exceed a total of $3,800,000,000; and (2) no State equity payment shall be made prior to State fiscal year 2024 or prior to completion of the civic build.

(b) The public agency shall be required to take all steps necessary to facilitate the required payments to the Civic and Transit Infrastructure Fund as set forth in Section 3 of the Retailers' Occupation Tax and Section 8.25g of the State Finance Act.

(Source: P.A. 101-10, eff. 6-5-19; 102-558, eff. 8-20-21.)