Public Act 095-0494
 		





SB1097 Enrolled
LRB095 06030 BDD 26122 b






    AN ACT concerning economic development.

 
    Be it enacted by the People of the State of Illinois, 
represented in the General Assembly: 


 
    Section 5. The Department of Commerce and Economic 
Opportunity Law of the
Civil Administrative Code of Illinois is 
amended  by adding Section 605-312 as follows:
 
    (20 ILCS 605/605-312  new)
    Sec. 605-312. Advanced science and technology study. 
Subject to appropriation, the Department may conduct a research 
study regarding the creation of advanced science zones and 
other innovative policy proposals to encourage the creation of 
appropriately compensated high-skill and high-technology jobs 
in Illinois.  The purpose of the study is to explore ways and 
means of stimulating growth, stabilization, and retention of 
advanced sciences in the State by means of relaxed government 
controls and tax incentives in those areas.  The study shall 
provide, but not be limited to, detailed information including 
best practices for the creation and administration of advanced 
science zones in Illinois.  The research study may also include 
data regarding the creation of financing programs and tax 
incentives for businesses and institutions located within 
advanced science zones.  In conducting the research and in 
formulating its recommendations, the Department must be 
advised by and shall consult with the appropriate committees of 
the Senate and House of Representatives. The Department shall 
review and consider strategies, programs, and practices that 
have been implemented in other states and shall seek and 
consider the views and recommendations of both the public and 
private sectors. A copy of the completed research report shall 
be made available to members of the General Assembly upon their 
request no later than January 31, 2008.
 

    Section 99. Effective date. This Act takes effect upon 
becoming law.



Effective Date:  8/28/2007