Bill Status of HB2212 9th General Assembly
Short Description: BROWNFIELDS REDEV & INTERM PRO
Rep. William Davis - Al Riley
|Session Sine Die
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Brownfields Redevelopment and Intermodal Promotion Act. Identifies boundaries of the South Suburban Cook County Brownfield Redevelopment Zone. Provides that the incremental income tax attributable to a new employee on property that has been redeveloped within the South Suburban Brownfields Redevelopment Zone pursuant to a South Suburban Cook County Redevelopment Project shall be deposited into the South Suburban Brownfields Redevelopment Fund. Provides that moneys in the South Suburban Brownfields Redevelopment Fund shall be used to cover the costs of acquisition and assembly of brownfield properties and their remediation and re-use as part of a South Suburban Cook County Redevelopment Zone, and for improvements of public infrastructure servicing those properties. Sets forth limits on expenditures from the South Suburban Brownfields Redevelopment Fund. Contains other provisions. Amends the State Finance Act to create the South Suburban Brownfields Redevelopment Fund as a special fund. Effective immediately.