River Edge Redevelopment Zone (Illinois)
Last modified on February 12, 2015.
|Applies to States or Provinces||Illinois|
|Name||River Edge Redevelopment Zone (Illinois)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive, Personal Tax Incentives, Property Tax Incentive, Sales Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Implementing Sector|| State/Province
|Program Administrator||IL Department of Commerce and Economic Activity|
|Primary Website|| http://www.illinois.gov/dceo/ExpandRelocate/Incentives/taxassistance/Pages/riversedge.aspx
| Last Substantive Modification
The purpose of the River Edge Redevelopment Program is to revive and redevelop environmentally challenged properties adjacent to rivers in Illinois.
The River Edge Redevelopment Zone Act authorizes DCEO to designate zones in four cities – Aurora, East St. Louis, Elgin and Rockford.
The River Edge Redevelopment Zone (RERZ) Program is designed to achieve its goals through the use of several incentives authorized by State law. Two of these – sales tax exemption and property tax abatement (if offered in the zone) – are administered by the local zone administrators. The others involve tax incentives that may be claimed on your Illinois Income Tax filing.
|Department||Department of Commerce and Economic Development|
|Division||Bureau of Business Development|
|Address||500 East Monroe|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||65 ILCS 115|
|Date Effective|| 2006-07-12