INTERCITY DEVELOPMENT ACT

Creates the Intercity Development Act. Provides that economically distressed communities may, by appointing a Board of Economic Advisors, receive assistance under the Act. Provides that the Board shall create a revitalization plan for the community. Provides that the Department of Commerce and Economic Opportunity shall, subject to appropriation, make grants to those communities for the operational expenses of the Board. Provides that Boards shall seek funding sources to enhance economic development. Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Expands the peace officer powers of certain Department of Revenue investigators. Amends the Illinois Pull Tabs and Jar Games Act. Increases certain prize limits. Amends the Illinois Horse Racing Act of 1975 and the Riverboat Gambling Act to authorize the conduct of gambling using slot machines and video games of chance at race tracks. Further amends the Illinois Horse Racing Act of 1975 to delete the recapture provisions and to repeal provisions concerning the pari-mutuel tax credit and the Horse Racing Equity Fund. Imposes an admission tax of $1 for each person who enters the grounds of an organization licensee. Makes changes concerning the distribution of breakage. Provides that, subject to the availability of horses, certain races that are limited to Illinois conceived and foaled or Illinois foaled horses or both shall be limited to Illinois conceived and foaled or Illinois foaled maidens. Authorizes 2 or more existing organization licensees to integrate into a single integrated organization. Makes other changes. Amends the Riverboat Gambling Act. Reduces the admission tax. Reduces the wagering tax. Authorizes an owners licensee to operate up to 2,000 gaming positions (rather than limit the number of gambling participants to 1,200). Provides that a licensee that successfully bids for unused positions may operate those positions in addition to the positions authorized by its license. Authorizes an owners license to relocate a portion of its slot machines to its home dock facility. Requires owners licensees to pay an aggregate amount of $130,000,000 to the Gaming Board by July 1, 2006 for deposit into the State Gaming Fund. Makes other changes. Amends the Criminal Code of 1961 to provide that certain provisions that apply to riverboat gambling also apply to slot machine gambling at race tracks. Amends Public Act 91-40 to replace that Act's inseverability clause with a severability clause. Preempts home rule concerning the regulation of electronic gaming. Provides that certain tax moneys from riverboat gambling shall be paid into the Local Riverboat Gaming Distributive Fund and paid to counties that do not have a riverboat dock within its borders. Makes other changes. Amends the State Finance Act to create the Intercity Development Fund, the Local Riverboat Gaming Distributive Fund, and the South Suburban Assistance Fund. Effective immediately.