Illinois § 25-50 Payment to the private entity

Illinois Statutes

§ 25-50 — Payment to the private entity

Illinois·Topic GOVERNMENT·Ch. 30 FINANCE·Act 30 ILCS 558/ Public-Private Partnership for Civic and Transit Infrastructure Project Act.·Art. Artilce 25 - Public-Private Partnership

(a)Notwithstanding anything in the public-private agreement to the contrary:

(1)the civic build cost shall not exceed a total of $3,800,000,000; and (2) no State equity payment shall be made prior to State fiscal year 2024 or prior to completion of the civic build.

(b)The public agency shall be required to take all steps necessary to facilitate the required payments to the Civic and Transit Infrastructure Fund as set forth in Section 3 of the Retailers' Occupation Tax and Section 8.25g of the State Finance Act.

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(a) Notwithstanding anything in the public-private agreement to the contrary: (1) the civic build cost shall not exceed a total of $3,800,000,000; and (2) no State equity payment shall be made prior to State fiscal year 2024 or prior to completion of the civic build. (b) The public agency shall be required to take all steps necessary to facilitate the required payments to the Civic and Transit Infrastructure Fund as set forth in Section 3 of the Retailers' Occupation Tax and Section 8.25g of the State Finance Act.

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