Illinois § 12-2 Definitions

Illinois Statutes

§ 12-2 — Definitions

Illinois § 12-2

TopicGOVERNMENT

Ch. 20EXECUTIVE BRANCH

Act 20 ILCS 655/Illinois Enterprise Zone Act.

This text of Illinois § 12-2 (Definitions) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

20 Ill. Comp. Stat. 12-2 (2026).

Text

Unless the context clearly requires otherwise:

(a)"Financial institution" means a trust company, a bank, a savings bank, a credit union, an investment bank, a broker, an investment trust, a pension fund, a building and loan association, a savings and loan association, an insurance company or any venture capital company which is authorized to do business in the State.

(b)"Participating lender" means any trust company, bank, savings bank, credit union, investment bank, broker, investment trust, pension fund, building and loan association, savings and loan association, insurance company or venture capital company approved by the Department which assumes a portion of the financing for a business project.

(c)"Department" means the Illinois Department of Commerce and Economic Opportunity.

(d)

Free access — add to your briefcase to read the full text and ask questions with AI

Unless the context clearly requires otherwise: (a) "Financial institution" means a trust company, a bank, a savings bank, a credit union, an investment bank, a broker, an investment trust, a pension fund, a building and loan association, a savings and loan association, an insurance company or any venture capital company which is authorized to do business in the State. (b) "Participating lender" means any trust company, bank, savings bank, credit union, investment bank, broker, investment trust, pension fund, building and loan association, savings and loan association, insurance company or venture capital company approved by the Department which assumes a portion of the financing for a business project. (c) "Department" means the Illinois Department of Commerce and Economic Opportunity. (d) "Business" means a for-profit, legal entity located in an Illinois Enterprise Zone including, but not limited to, any sole proprietorship, partnership, corporation, joint venture, association or cooperative. (e) "Loan" means an agreement or contract to provide a loan or other financial aid to a business. (f) "Project" means any specific economic development activity of a commercial, industrial, manufacturing, agricultural, scientific, service or other business in an Enterprise Zone, the result of which yields an increase in jobs and may include the purchase or lease of machinery and equipment, the lease or purchase of real property or funds for infrastructure necessitated by site preparation, building construction or related purposes but does not include refinancing current debt. (g) "Fund" means the Enterprise Zone Loan Fund created in Section 12-6.