Illinois General Assembly - Full Text of Public Act 095-0494
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Public Act 095-0494




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