RIVER EDGE REDEVELOPMENT ZONE

Amends the River Edge Redevelopment Zone Act. Provides that, on and after the effective date of the amendatory Act, a River Edge Redevelopment Zone means an area of the State (1) located on a river, (2) with less than 20,000 population, (3) that meets one of the following conditions: (i) has a median household income of less than 80% of State median income for a household of 4, as determined by the U.S. Department of Housing and Urban Development; (ii) has a per capita personal income of less than 60% of the per capita personal income for Illinois as determined by the U.S. Department of Commerce; or (iii) has a median home price of less than 60% of the State median home price, and (3) is certified by the Department of Commerce and Economic Opportunity (currently, an area of the State certified by the Department). Effective immediately.