§ 1 Short title
§ 2 Legislative declaration of public purpose
§ 3 Definitions
§ 4 Establishment of economic development project areas; ordinance; …
§ 4.5 Recapture
§ 4.7 Municipal reports
§ 5 Submission to Department; certification by Department; limitation on …
§ 6 Filing with county clerk; certification of initial equalized assessed value
§ 7 Creation of special tax allocation fund
§ 8 Issuance of obligations for economic development project costs
§ 8a Cancellation and repayment of tax benefits
§ 9 Powers of municipalities
§ 9.5 Eminent domain
§ 10 Conflicts of interest; disclosure
§ 11 Payment of project costs; revenues from governmental property

Terms Used In Illinois Compiled Statutes > 20 ILCS 620 - Economic Development Area Tax Increment Allocation Act

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.