(50 ILCS 470/45)
Sec. 45. Restrictions. STAR bond districts may lie
within an enterprise zone, but no portion of a STAR bond project
shall be financed with funds allocated pursuant to the Illinois
Enterprise Zone Act. STAR bond districts may overlay and benefit
from existing tax increment financing districts created pursuant to
the Tax Increment Allocation Redevelopment Act, but no portion of
a STAR bond project shall be financed with tax increment financing under said Act. During any period of time that STAR bonds are outstanding for a STAR bond district, a developer may not use any land located in the STAR bond district for any (i) retail store whose primary business is the sale of automobiles, including trucks and other automotive vehicles with 4 wheels designed for passenger transportation on public streets and thoroughfares or (ii) multi-screen motion picture theater complexes containing more than 12 auditoriums for viewing motion pictures. No STAR bond district may contain more than 900,000 square feet of floor space devoted to traditional retail use.
(Source: P.A. 96-939, eff. 6-24-10.) |