reglab/housing_qa huggingface dataset:
20 ILCS 3501/810-10
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 810 - Venture Investment Fund

Sec. 810-10.     Definitions.     The following terms, whenever used or referred  to in this Article, shall have the following meanings  ascribed to them, except where the context clearly requires otherwise:(a) "Co-venture investment" means a venture capital or seed capital  investment  by the Authority in qualified securities of an enterprise that is made after or  in conjunction with one or more professional investors that have or are making  equity investments in that enterprise, as provided in this Act. A direct  investment made by the Authority may later be treated as a co-venture upon such  investment made by a professional investor.(b) "Direct investment" means a venture capital or seed capital investment  by  the Authority in qualified securities of an enterprise in which no professional  investor or seed capital investor is also making an equity investment.(c) "Enterprise" means an individual, corporation, partnership, joint  venture,  trust, estate, or unincorporated association.(d) "Professional investor" means any bank, bank holding company, savings  institution, trust company, credit union, insurance company, investment company  registered under the Federal Investment Company Act of 1940, pension or  profit-sharing trust or other financial institution or institutional buyer,  licensee  under the Federal Small Business Investment Act of 1958, or any person,  partnership, or other entity whose principal business is making venture capital  investments and whose net worth exceeds $250,000.(e) "Qualified security" means any note, stock, convertible security,  treasury  stock, bond, debenture, evidence of indebtedness, limited partnership interest,  certificate of interest or participation in any profit-sharing agreement,  pre-organization certificate or subscription, transferable share, investment  contract, certificate of deposit for a security, certificate of interest or  participation in a patent or application therefor, or in royalty or other  payments under a patent or application, or, in general, any interest or  instrument commonly known as a "security" or any certificate for, receipt for,  guarantee of, or option, warrant, or right to subscribe to or purchase any of  the foregoing.(f) "Seed capital" means financing in the form of investments in qualified  securities that is provided for applied research, development, testing, and  initial marketing of a technology, product, process, or invention and  associated working capital.(g) "Seed capital investor" means any person, partnership, corporation,  trust, or other entity making a seed capital investment.(h) "Director" means the person designated by the Authority to manage the  activities associated with the Illinois Venture Investment Fund.(i) "Venture capital" means financing in the form of investments in  qualified securities that is provided for the capital needs of a company that  is  developing a new technology, product, process, or invention.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/810-15
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 810 - Venture Investment Fund

Sec. 810-15.     Illinois Venture Investment Fund.     There is created the  Illinois  Venture Investment Fund, hereafter referred to in  this Article  as the "Fund". The Treasurer of the Authority shall have custody of the Fund,  which shall be held outside of the State treasury. The Authority is authorized  to accept any and all grants, loans, including loans from State public employee  pension funds, as authorized by this Act or any other statute, subsidies,  matching funds, reimbursements, appropriations, transfers of appropriations,  federal grant monies, income derived from investments, or other things of value  from the federal or state governments or any agency of any other state or from  any institution, person, firm or corporation, public or private, for deposit in  the Fund.  The Authority is authorized to use monies deposited in the Fund expressly for  the purposes specified in and according to the procedures established by  Sections 810-20 through 810-40 of this Act. The Authority may appoint a  Director  to manage the activities associated with the Fund. Such Director shall receive  compensation as determined by the Authority.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/810-30
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 810 - Venture Investment Fund

Sec. 810-30.     Investment in Pools of Funds.     Proposals for the establishment  of pools of funds under paragraph (b) of  Section 810-20 of this Act shall be  submitted on a form, contain the information, and be accompanied by a fee as  prescribed by the Authority.  The Authority shall not enter into any agreement or contract under paragraph  (b) of Section 810-20 of this Act unless the agreement or contract provides  that the  pool of funds will be invested in an enterprise only if the manager finds all  of the following:(a) The enterprise has a reasonable chance of success.(b) The technology, product, process, or invention for which the investment  is  being made is feasible and has the potential to achieve commercial success.(c) The enterprise has the potential to create substantial employment within  the State.(d) The entrepreneur, investors, shareholders, or founders of the enterprise  have made or are obligated to make a substantial commitment of time and funds  to the enterprise.(e) The possible gains in the investment are at least commensurable with the  risk of loss and there is a reasonable possibility that the investors,  including the Authority, will recoup their investment within 10 years after the  investment, through the receipt of interest, dividends, capital gains, or other  distributions of profit or royalties.(f) The enterprise shall have made binding commitments for adequate  reporting of and access to financing data of the enterprise.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/810-35
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 810 - Venture Investment Fund

Sec. 810-35.         Documentary materials concerning trade secrets; Commercial or  financial information; Confidentiality. Any documentary materials or data made  or received by any member, agent or employee of the Authority, to the extent  that such material or data consist of trade secrets, commercial or financial  information regarding the operation of any enterprise conducted by an applicant  for, or recipient of, any form of assistance which the Authority is empowered  to  render, or regarding the competitive position of such enterprise in a  particular  field of endeavor, shall not be deemed public records; provided, however, that  if the Authority purchases a qualified security from such enterprise, the  commercial and financial information, excluding trade secrets, shall be deemed  to become a public record of the Authority after the expiration of 3 years from  the date of purchase of such qualified security, or, in the case of such  information made or received by any member, agent or employee of the Authority  after the purchase of such qualified security, 3 years from the date such  information was made or received. Any discussion or consideration of such trade  secrets or commercial or financial information may be held by the Authority, in  executive sessions closed to the public, notwithstanding the provisions of the  Open Meetings Act; provided, however, that the purpose of any such executive  session shall be set forth in the official minutes of the Authority and  business which is not related to such purpose shall not be transacted, nor  shall any vote be taken during such executive sessions.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/810-40
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 810 - Venture Investment Fund

(20 ILCS 3501/810-40)Sec. 810-40.     Tax Exemption.     The Illinois Venture Investment Fund and all  its  proceeds shall be and are hereby declared exempt from all franchise and income  taxes levied by the State, provided nothing herein shall be construed to exempt  from any such taxes, or from any taxes levied in connection with the  manufacture, production, use or sale of any technologies, products, processes  or  inventions which are the subject of any agreement earned by any enterprise in  which the Authority has invested.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/Art. 815 heading
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

 ARTICLE 815  LAND BANK FUND
20 ILCS 3501/815-5
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

Sec. 815-5.     Findings and Declaration of Policy.     It is hereby found and  declared that there exists within the State a condition of substantial and  persistent unemployment which is detrimental to the welfare of the people of  the  State; that the absence of an orderly conversion and development of certain  property results in blight, economic dislocation, and additional unemployment;  that there exists within the State a significant resource of underutilized  property which, if returned to productive economic use, will increase  employment, increase revenues for the State and units of local government, and  lead to a more stable economy; that the acquisition, development or disposition  of such land or property in conjunction with units of local government, local  industrial development agencies and private enterprise in accordance with  development plans will stimulate economic development within the State; that  the  establishment of the Illinois Land Bank Fund and the exercise by the Authority  of the powers granted in  this Article will promote  economic development resulting in increased employment and public revenues; and  that the provisions of this Act are hereby declared to be in the public  interest  and benefit and a valid public purpose.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/815-15
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

Sec. 815-15.     Illinois Land Bank Fund; Creation; Use.     There is hereby  created  the Illinois Land Bank Fund, hereafter referred to in  Sections 815-15 through 815-30 of this Act as the "Fund". The Treasurer of the  Authority shall have custody  of the Fund, which shall be held outside of the State treasury. The Authority  is authorized to accept any and all grants, loans, subsidies, matching funds,  reimbursements, appropriations, transfers of appropriations, federal grant  monies, income derived from investments, or other things of value from the  federal or state governments or units of local government or any agency thereof  or from an enterprise for deposit in the Fund. The Authority is authorized to  use monies deposited in the Fund expressly for the purposes specified in and  according to the procedures established by Sections 815-20 through 815-30 of  this Act.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/815-20
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

Sec. 815-20.     Powers and Duties.(a) The Authority shall have the following powers with respect to  redevelopment areas:(1) To acquire and possess property in a     redevelopment area;(2) To clear any such areas so acquired by demolition     of existing structures and buildings and to make necessary improvements to the property essential to its reuse in conformity with a development plan; and(3) To convey property for use in accordance with a     development plan.(b) Before acquiring property under this  Section the Authority shall hold a  public hearing after notice published in a newspaper of general circulation in  the county in which the property is located and shall find:(1) The property is in a redevelopment area;(2) Such acquisition or possession is necessary or     reasonably required to retain existing enterprises or attract new enterprises and to promote sound economic growth and to carry out the purposes of Section 815-5 through 815-30 of this Act;(3) The assembly of property is not unduly     competitive with similar assemblies by private enterprise in the area or surrounding areas; and(4) The participating entity, without the involvement     of the Authority, would be unlikely, unwilling or unable to undertake such redevelopment of the property as was necessary for economic development.(c) No property may be acquired by the Authority unless the acquisition is  consented to by resolution of the corporate authorities of the municipality  with jurisdiction over the property under Section 11-12-6 of the Municipal  Code.(d) The Authority may acquire any interest in property in a redevelopment  area by purchase, lease, or gift, but shall not have the power of condemnation.(e) No property shall be acquired under this Section unless the Authority  has adopted a development plan under the provisions of Section 815-25.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/815-25
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

Sec. 815-25.     Development Plans.(a) No development plan shall be approved by the Authority unless after a  public hearing held upon notice published in a newspaper of general circulation  in the county where the property is located, the Authority finds:(1) The plan provides for projects which will reduce     unemployment;(2) The redevelopment area on the whole has not been     subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the development plan;(3) The corporate authorities of the municipality     with jurisdiction over the property under Section 11-12-6 of the Municipal Code have by resolution found that the development plan conforms to the comprehensive plan of the municipality;(4) A participating entity has agreed to enter into     such contracts and other agreements as are necessary to acquire, redevelop and improve the property in accordance with the development plan;(5) The acquisition of the property, its possession     and ultimate use according to the development plan can be financed by participating entities and the Authority and the development plan will be completed and all obligations of the Authority incurred in connection with the redevelopment plan will be retired within 20 years from the Authority's approval of the development plan; and(6) The development plan meets such other     requirements as the Authority may establish by rule.(b) The Authority may dispose of any property which is the subject of a  development plan in such manner, whether by sale, lease or otherwise, and for  such price, rental or other consideration, including an amount not less than  2/3  of its acquisition cost, payable over such term, and bearing interest as to  deferred payments, and secured in such manner, by mortgage or otherwise, all as  the Authority shall provide in the development plan.(c) Pending disposition of such land, any existing property acquired by the  Authority in the course of carrying out the provisions of this Act may be  adequately and properly preserved, and may be maintained, leased or  administered  by the Authority by a contract made by the Authority with any participating  entity, enterprise or individual with experience in the area of property  development, management or administration.(d) Whenever the Authority shall have approved a development plan, the  Authority may amend the development plan from time to time in conformity with  this Section.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/815-30
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 815 - Land Bank Fund

(20 ILCS 3501/815-30)Sec. 815-30.     Local Planning; Relocation Costs.     The Authority may arrange  or  contract with a municipality or municipalities for the planning, re-planning,  opening, grading or closing of streets, roads, alleys or other places or for  the  furnishing of facilities or for the acquisition by the municipality or  municipalities of property or property rights or for the furnishing of property  or services in connection with a development project or projects.  The Authority is hereby authorized to pay the reasonable relocation costs, up  to  a total of $25,000 per relocatee, of persons and businesses displaced as a  result of carrying out a development plan as authorized by  this Article.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/Art. 820 heading
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

 ARTICLE 820  LOCAL GOVERNMENT
20 ILCS 3501/820-5
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-5. Findings and Declaration of Policy. It is hereby found and  declared that there exists an urgent need to upgrade and expand the capital  facilities, infrastructure and public purpose projects of units of local  government and to promote other public purposes to be carried out by units of  local government; that federal funding reductions combined with shifting  economic conditions have impeded efforts by units of local government to  provide the necessary improvements to their capital facilities, infrastructure  systems and public purpose projects and to accomplish other public purposes in  recent years; that adequate and well-maintained capital facilities,  infrastructure systems and public purpose projects throughout this State and  the  performance of other public purposes by units of local government throughout  this State can offer significant economic benefits and an improved quality of  life for all citizens of this State; that the exercise by the Authority of the  powers granted in  this Article will promote economic development  by enhancing the capital stock of units of local government and will  facilitate  the accomplishment of other public purposes by units of local government; that  authorizing the Authority to borrow money in the public and private capital  markets in order to provide money to purchase or otherwise acquire obligations  of units of local government will assist such units of local government in  borrowing money to finance and refinance the public purpose projects, capital  facilities and infrastructure of the units and to finance other public purposes  of such units of local government, in providing access to adequate capital  markets and facilities for borrowing money by such units of local government,  in  encouraging continued investor interest in the obligations of such units of  local government, in providing for the orderly marketing of the obligations of  such units of local government, and in achieving lower overall borrowing cost  and more favorable terms for such borrowing; and that the provisions of  this Article are hereby declared to be in the public interest  and for the public benefit.  (Source: P.A. 97-333, eff. 8-12-11.)
20 ILCS 3501/820-10
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-10. Definitions. The following words or terms, whenever used or  referred to in  this Article, shall have the following  meanings ascribed to them, except where the context clearly requires otherwise:(a) "Department" means the Illinois Department of Commerce and Economic  Opportunity.(b) "Unit of local government" means any unit of local government, as  defined  in Article VII, Section 1 of the 1970 State Constitution and any local public  entity as that term is defined by the Local Governmental and Governmental  Employees Tort Immunity Act and also includes the State and any  instrumentality,  office, officer, department, division, bureau, commission, college or  university  thereof.(c) "Energy conservation project" means any improvement, repair, alteration  or  betterment of any building or facility or any equipment, including but not limited to an Energy Efficiency Project, as defined in item (iii) of subsection (b) of  Section 825-65, in connection with any school district or community college district project, and any fixture or furnishing  including its energy using mechanical devices to be added to or used in any  building or facility that the Director of the Department has certified to the  Authority will be a cost-effective energy-related project that will lower  energy  or utility costs in connection with the operation or maintenance of such  building or facility, and will achieve energy cost savings sufficient to cover  bond debt service and other project costs within 10 years from the date of  project installation.  (Source: P.A. 97-760, eff. 7-6-12.)
20 ILCS 3501/820-15
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-15.     Creation of Reserve Funds.     The Authority may establish and  maintain one or more reserve funds in which there may be one or more accounts  in which there may be deposited:(a) Any proceeds of bonds issued by the Authority required to be deposited  therein by the terms of any contract between the Authority and its bondholders  or any resolution of the Authority;(b) Any other moneys or funds of the Authority which it may determine to  deposit therein from any other source; and(c) Any other moneys or funds made available to the Authority, including  without limitation any proceeds of any local government security or any taxes  or  revenues, rates, charges, assessments, grants, or other funds pledged or  assigned to pay, repay or secure any local government security.  Subject to the terms of any pledge to the owners of any bond, moneys in any  reserve fund may be held and applied to the payment of the interest, premium,  if any, or principal of bonds or local government securities or for any other  purpose authorized by the Authority.    (Source: P.A. 93-205, eff. 1-1-04.)