Illinois Administrative Code
Title 14 - COMMERCE
Part 520 - ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS
Subpart C - ENTERPRISE ZONE: AMENDMENT AND DECERTIFICATION
Section 520.315 - Application to Change Incentives, Alter Termination Date, and Make Technical Corrections
Universal Citation: 14 IL Admin Code ยง 520.315
Current through Register Vol. 48, No. 12, March 22, 2024
a) Application to Expand, Limit, or Repeal Incentives
1) Changing Incentives. An applicant shall
apply to the Department to expand, limit, or repeal the incentives provided in
the ordinance on forms provided by the Department, and shall comply with the
procedures described in Section 5.4 of the Act.
2) Continuation of Incentives. Sections
5.4(e) and (f) of the Act provide that all incentives and benefits previously
offered shall continue for the original term of the zone for three groups:
A) Receiving Benefits. Business enterprises
that are receiving benefits or incentives in the zone on the effective date of
the amending ordinance;
B) Proposed
Expansions. Business enterprises or expansions that are proposed or under
development on the effective date of the amending ordinance, if the business
enterprise demonstrates that:
i) The proposed
business enterprise or expansion has been committed to locating or expanding in
the zone; and
ii) Substantial and
binding financial obligations have been made in reasonable reliance on the
benefits and programs that would have been available because of the Enterprise
Zone;
C) Individuals in
Homestead/Shopstead. Individuals participating in urban homestead or shopstead
programs.
3) Local
Government Duties. With respect to businesses that are already receiving
Enterprise Zone benefits, the local government has the responsibility to
attempt to inform eligible businesses through public notice or mailings, and to
take administrative steps necessary to assure compliance.
4) Evidence of Financial Commitment. Evidence
of commitment under subsection (a)(2)(B)(ii) shall include, but not be limited
to: internal memoranda; purchase orders; construction plans and schematics;
evidence of financial commitment from financial institutions and/or State,
local, or federal governments; and written contracts. Proposed business
locations or expansions shall also demonstrate reliance on Enterprise Zone
benefits by applying for the incentives, provided that all other requirements
are met.
5) Local Government
Duties. With respect to homestead and shopstead programs, the local government
shall inform affected parties and meet its obligations concerning transfer of
title to the property and any other provisions that relate to the rights and
privileges of the affected parties.
b) Application to Alter Termination Date
1) Altering Termination Date. An applicant
shall apply to the Department to alter the termination date provided in the
ordinance, on forms provided by the Department, and shall comply with the
procedures described in Section 5.4 of the Act.
2) Reducing Duration of Zone. If the
amendatory ordinance reduces the duration of the Enterprise Zone, the "benefit
entitlement" provisions of Section 5.4(e) and (f) of the Act and described in
subsections (a)(2)(A), (B) and (C) shall apply.
3) Any Enterprise Zone in existence on July
25, 2013 that has a term of 20 calendar years may be extended for an additional
10 calendar years upon amendment of the designating ordinance by the
designating municipality or county and submission of the ordinance to the
Department. The amended ordinance must be properly recorded in the Office of
Recorder of Deeds of each county in which the Enterprise Zone lies.
[20 ILCS
655/5.3(c) ]
4) Each Enterprise Zone in existence on
August 7, 2012 that is scheduled to expire before July 1, 2016 may have its
termination date extended until July 1, 2016 upon amendment of the designating
ordinance by the designating municipality or county extending the termination
date to July 1, 2016 and submission of the ordinance to the Department. The
amended ordinance must be properly recorded in the Office of Recorder of Deeds
of each county in which the Enterprise Zone lies. [20 ILCS
655/5.3(c) ]
5) Enterprise Zones designated after August
7, 2012, shall be in effect for a term of 15 calendar years, or for a lesser
number of years specified in the certified designation ordinance. Those
Enterprise Zones shall be subject to review by the Board after 13 years for an
additional 10-year designation. During the review process, the Board shall
consider the costs incurred by the State and units of local government as a
result of tax benefits received by the Enterprise Zone. [20 ILCS
655/5.3(c) ] The application for the
additional 10 years must be approved by majority vote of the Board.
c) Application to Make Technical Corrections
1) Making Technical Corrections.
An applicant shall apply to the Department to make a technical correction in
the ordinance, on forms provided by the Department, and shall comply with the
procedures described in Section 5.4 of the Act.
2) Definition of Technical Correction. A
"technical correction" shall mean a non-substantive change that corrects or
clarifies the wording, terms, or conditions of an Enterprise Zone ordinance or
intergovernmental agreement. A technical correction is not one that affects any
rights and privileges accorded to residents of the zone.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.