(20 ILCS 655/12-2)
(from Ch. 67 1/2, par. 619)
Unless the context
clearly requires otherwise:
(a) "Financial institution" means a trust company,
a bank, a savings bank, a credit union, an investment bank, a
broker, an investment trust, a pension fund, a building and
loan association, a savings and loan association, an insurance
company or any venture capital company which is authorized to
do business in the State.
(b) "Participating lender" means any trust company,
bank, savings bank, credit union, investment bank, broker,
investment trust, pension fund, building and loan association,
savings and loan association, insurance company or venture
capital company approved by the Department which assumes a
portion of the financing for a business project.
(c) "Department" means the Illinois Department of Commerce
and Economic Opportunity.
(d) "Business" means a for-profit, legal entity located in an
Illinois Enterprise Zone including, but not limited to, any sole proprietorship,
partnership, corporation, joint venture, association or
(e) "Loan" means an agreement or contract to provide a loan or other
financial aid to a business.
(f) "Project" means any specific economic development
activity of a commercial, industrial, manufacturing,
agricultural, scientific, service or other business in an Enterprise Zone, the
result of which yields an increase in jobs and may include
the purchase or lease of machinery and equipment, the lease
or purchase of real property or funds for infrastructure
necessitated by site preparation, building construction or
related purposes but does not include refinancing current
(g) "Fund" means the Enterprise Zone Loan
Fund created in Section 12-6.
(Source: P.A. 94-793, eff. 5-19-06.)