TECHNOLGY ZONE ACT

Creates the Technology Development Zone Act. Sets forth procedures for municipalities, in consultation with a college, university, or community college in the municipality, to certify territory in the municipality as a technology zone. Sets forth procedures for the Department of Commerce and Economic Opportunity to certify 10 technology zones in the State. Sets forth procedures for tax increment financing for certified technology zones. Sets forth procedures for the issuance of municipal bonds for activities in technology zones. Sets forth the powers or municipalities with respect to technology zones. Contains other provisions. Amends the Eminent Domain Act concerning condemnation authority. Effective immediately.