Resolves that it is State policy that the 15 to 20 minute delay in Amtrak's travel time on the City of New Orleans, Illini, and Saluki trains, as the trains approach Chicago's Union Station, be eliminated and that the Grand Crossing Connection be built and operational for Amtrak service.
Amends the Illinois Finance Authority Act. Provides that whenever the Authority is authorized under the Act to provide financial assistance to organizations, the Authority may provide that assistance for the purpose of funding projects outside the State if the organization or an affiliate also either (i) has a principal office in Illinois or (ii) is financing a project located within Illinois. Provides that "organization" includes, without limitation, higher education, industrial, cultural, housing, health care, and other organizations.
Amends the Illinois Finance Authority Act. Defines the term "energy-related agribusiness" to include fuel processing and development facilities using agricultural commodities, vegetable oils, animal fats, or biomass feedstocks. Authorizes State Guarantees for loans to energy-related agribusinesses. Sets limits on these guarantees and provides for review and renewal.
Amends the State Finance Act. Provides that all net proceeds from any sale or other disposition of the State Lottery must be deposited into the Commitment to Pension Protection Fund, a special fund created in the State treasury. Provides that all amounts in the Fund must be appropriated as determined by the General Assembly to restore adequate funding of the various State pension and retirement systems. Effective immediately.
Creates the Rural Technology Development Zone Act. Allows the Department of Commerce and Economic Opportunity to designate 3 rural areas in the State as rural technology development zones. Provides that the Department of Commerce and Economic Opportunity shall submit a report to the General Assembly outlining the progress in improving wireless telecommunications and Internet access within rural technology development zones. Amends the Illinois Income Tax Act to provide a tax credit for investments in technology infrastructure required to provide wireless telecommunications and Internet access in rural technology development zones. Effective immediately.
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.
Amends the Environmental Protection Act. Provides that the annual fee applicable to discharges under an NPDES permit for mines producing coal is $1,000 (now, $5,000). Effective July 1, 2007.
Amends the Economic Development for a Growing Economy Tax Credit Act and the Illinois Income Tax Act. Provides that a taxpayer who has been awarded a credit under the Economic Development for a Growing Economy tax credit program may sell the credit in the secondary financial markets with 100% of the proceeds of the sale by the applicant to be used to offset the costs of the project. Amends the Corporate Accountability for Tax Expenditures Act and the Illinois Income Tax Act to make corresponding changes. Effective immediately.
Amends the Illinois Global Partnership Act. Prohibits IGP officers and employees and their spouses and immediate family from (i) having IGP grants or contracts or specified levels of interests in IGP grants and contracts, (ii) soliciting or accepting gifts from IGP grantees and contractors, and (iii) having IGP travel expenses paid for or reimbursed by IGP grantees or contractors. Requires IGP to develop 2-year goals and strategic plans; requires that IGP annually file the plan and a report of its progress with the Governor and General Assembly, beginning April 1, 2009.
Creates the Port Development Revolving Loan Program Act. Provides that the Department of Commerce and Economic Opportunity may provide grants or interest-free or below market rate loans to port districts in the State for the purposes of enhancing the use of Illinois' navigable waterways and developing inland inter-modal freight facilities within the State. Sets forth the terms and conditions of the grants and loans. Creates the Port Development Revolving Loan Fund. Amends the State Finance Act to make corresponding changes. Effective July 1, 2007.
