(50 ILCS 475/5-30)
    Sec. 5-30. Approval of STAR bond projects.
    (a) The corporate authorities of a political subdivision seeking to establish a STAR bond project in an approved STAR bond district must submit a proposed STAR bond project plan to the Department, the Department of Revenue, and the Governor's Office of Management and Budget on or before June 1, 2028. A STAR bond project which is partially outside the boundaries of a municipality must also be approved by the corporate authorities of the county by resolution.
    After the establishment of a STAR bond district, the master developer may propose a STAR bond project to a political subdivision, and the master developer shall, in cooperation with the political subdivision, prepare a STAR bond project plan in consultation with the planning commission of the political subdivision, if any. The STAR bond project plan may be implemented in separate development stages.
    (b) Any political subdivision considering a STAR bond project within a STAR bond district shall cause to be prepared an independent feasibility study. The feasibility study shall be prepared by a feasibility consultant approved by the Department. The feasibility consultant shall provide certified copies of the feasibility study to the political subdivision, the Department, the Department of Revenue, and the Governor's Office of Management and Budget. The feasibility study shall include the following:
        (1) the estimated amount of pledged STAR revenues
    
expected to be collected in each year through the maturity date of the proposed STAR bonds;
        (2) a statement of how the jobs and taxes obtained
    
from the STAR bond project will contribute significantly to the economic development of the State and region;
        (3) visitation expectations;
        (4) the unique quality of the project;
        (5) an economic impact study;
        (6) a market study;
        (7) current and anticipated infrastructure analysis;
        (8) integration and collaboration with other
    
resources or businesses;
        (9) the quality of service and experience provided,
    
as measured against national consumer standards for the specific target market;
        (10) project accountability, measured according to
    
best industry practices;
        (11) the expected return on State and local
    
investment that the STAR bond project is anticipated to produce; and
        (12) an anticipated principal and interest payment
    
schedule on the STAR bonds.
    The feasibility consultant, along with any other consultants commissioned to perform the studies and other analysis required by the feasibility study, shall be selected by the political subdivision but approved by the Department. The consultants shall be retained by the political subdivision. The political subdivision may seek reimbursement from the master developer.
    The failure to include all information enumerated in this subsection in the feasibility study for a STAR bond project shall not affect the validity of STAR bonds issued under this Act.
    (c) If the political subdivision determines the STAR bond project is feasible, the STAR bond project plan shall include:
        (1) a summary of the feasibility study;
        (2) a reference to the STAR bond district plan that
    
identifies the STAR bond project area that is set forth in the STAR bond project plan that is being considered;
        (3) a legal description and map of the STAR bond
    
project area to be developed or redeveloped;
        (4) a description of the buildings and facilities
    
proposed to be constructed or improved in the STAR bond project area, including development users, as applicable;
        (5) a copy of letters of intent to locate within the
    
STAR bond district signed by both the master developer and the appropriate corporate officer of at least one development user for the STAR bond project proposed within the district;
        (6) a copy of a project labor agreement entered into
    
by the master developer and a commitment by the master developer, other developers, contractors, and subcontractors to comply with the requirements of Section 30-22 of the Illinois Procurement Code as they apply to responsible bidders; and
        (7) any other information the corporate authorities
    
of the political subdivision deems reasonable and necessary to advise the public of the intent of the STAR bond project plan.
    (d) Before a political subdivision may hold a public hearing to consider a STAR bond project plan, the political subdivision must apply to the Department, the Department of Revenue, and the Governor's Office of Management and Budget for joint review and recommendation and ultimate approval or denial by the Office of the Governor of the STAR bond project plan. The corporate authorities of a political subdivision seeking to establish a STAR bond project in an approved STAR bond district must submit a proposed STAR bond project plan to the Department, the Department of Revenue, and the Governor's Office of Management and Budget by June 1, 2028 for consideration.
    An application for approval of a STAR bond project plan must not be approved by the State unless all the components of the feasibility study set forth in paragraphs (1) through (12) of subsection (b) have been completed and submitted for review and recommendation for approval or denial. In addition to reviewing all the other elements of the STAR bond project plan required under subsection (c), which must be included in the application and include a letter of intent as required under paragraph (5) of subsection (c) in order to receive State approval, the Department, the Department of Revenue, and the Governor's Office of Management and Budget must review the feasibility study and consider all the components of the feasibility study set forth in paragraphs (1) through (12) of subsection (b), including, without limitation, the economic impact study and the financial benefit of the proposed STAR bond project to the local, regional, and State economies, the proposed adverse impacts on similar businesses and projects as well as municipalities within the market area, and the net effect of the proposed STAR bond project on the local, regional, and State economies. In addition to the economic impact study, the political subdivision must also submit to the agencies, as part of its application, the financial and other information that substantiates the basis for the conclusion of the economic impact study, in the form and manner as required by the agencies, so that the agencies can verify the results of the study. In addition to any other criteria in this subsection, the State may not approve the STAR bond project plan unless the agencies are satisfied that the proposed development users are, in fact, true development users and find that the STAR bond project plan is in accordance with the purpose of this Act and the public interest. As part of the review, the agencies shall evaluate the conclusions of the feasibility study as it relates to the projected State and local sales tax increments expected to be generated in the STAR bond district. The Department, the Department of Revenue, and the Governor's Office of Management and Budget shall jointly recommend the approval of a STAR bond project plan. In making the recommendation, the agencies shall consider the proximity of a proposed STAR bond project to another proposed or existing STAR bond project. Notwithstanding any other provision of this Act, the Department, the Department of Revenue, and the Governor's Office of Management and Budget shall not approve any STAR bond project plan that includes as part of the plan the development of any facility, stadium, arena, or other structure if: (1) the purpose of the facility, stadium, arena, or other structure is the holding of professional sports contests; or (2) the facility, stadium, arena, or other structure is within a one-mile radius of any structure that is developed on or after the effective date of this Act and has as one of its purposes the holding of professional sports contests. The agencies shall send a copy of their written findings and recommended approval or denial of the STAR bond project plan to the Office of the Governor for final action. Upon receipt of the Director's written findings and recommendation, the Office of the Governor shall issue a final approval or denial of the STAR bond project plan based on the criteria in this subsection and Section 5-15 and send a written approval or denial to the requesting political subdivision. Notwithstanding any other provision of law, for STAR bond districts designated as NOVA districts, the Office of the Governor shall issue a final approval or denial of the STAR bond project plan based on the criteria in this subsection and Section 5-15 and send written approval or denial to the requesting political subdivision within 180 days after the political subdivision applies for approval, as set out in this subsection (d). In granting its approval, the Office of the Governor may require the political subdivision to execute a binding agreement or memorandum of understanding with the State. The terms of the agreement or memorandum may include, among other things, the political subdivision's repayment of the State sales tax increment distributed to it if any violation of the agreement or memorandum or this Act occurs.
    (e) Upon a finding by the planning and zoning commission of the political subdivision, if any, that the STAR bond project plan is consistent with the intent of the comprehensive plan for the development of the political subdivision and upon issuance of written approval of the STAR bond project plan from the Office of the Governor under subsection (d) of this Section, the corporate authorities of the political subdivision shall adopt a resolution stating that the political subdivision is considering the adoption of the STAR bond project plan. The resolution shall:
        (1) give notice that a public hearing will be held to
    
consider the adoption of the STAR bond project plan and fix the date, hour, and place of the public hearing;
        (2) describe the general boundaries of the STAR bond
    
district within which the STAR bond project will be located and the date of establishment of the STAR bond district;
        (3) describe the general boundaries of the area
    
proposed to be included within the STAR bond project area;
        (4) provide that the STAR bond project plan and map
    
of the area to be redeveloped or developed are available for inspection during regular office hours in the offices of the political subdivision; and
        (5) contain a summary of the terms and conditions of
    
any proposed project development agreement with the political subdivision.
    (f) A public hearing shall be conducted to consider the adoption of any STAR bond project plan.
        (1) The date fixed for the public hearing to consider
    
the adoption of the STAR bond project plan shall be not less than 20 nor more than 90 days following the date of the adoption of the resolution fixing the date of the hearing.
        (2) A copy of the political subdivision's resolution
    
providing for the public hearing shall be sent by certified mail, return receipt requested, to the corporate authorities of the county. A copy of the political subdivision's resolution providing for the public hearing shall be sent by certified mail, return receipt requested, to each person or persons in whose name the general taxes for the last preceding year were paid on each parcel of land lying within the proposed STAR bond project area within 10 days following the date of the adoption of the resolution. The resolution shall be published once in a newspaper of general circulation in the political subdivision not less than one week nor more than 3 weeks before the date fixed for the public hearing. A map or aerial photo clearly delineating the area of land proposed to be included within the STAR bond project area shall be published with the resolution.
        (3) The hearing shall be held at a location that is
    
within 20 miles of the STAR bond district in a facility that can accommodate a large crowd is accessible to persons with disabilities.
        (4) At the public hearing, a representative of the
    
political subdivision or master developer shall present the STAR bond project plan. Following the presentation of the STAR bond project plan, all interested persons shall be given an opportunity to be heard. The corporate authorities may continue the date and time of the public hearing.
    (g) Upon conclusion of the public hearing, the governing body of the political subdivision may adopt the STAR bond project plan by a resolution approving the STAR bond project plan.
    (h) After the adoption by the corporate authorities of the political subdivision of a STAR bond project plan, the political subdivision may enter into a project development agreement if the master developer has requested the political subdivision to be a party to the project development agreement under subsection (b) of Section 5-40.
    (i) Within 30 days after the adoption by the political subdivision of a STAR bond project plan, the clerk of the political subdivision shall transmit a copy of the legal description of the land and a list of all new and existing mailing addresses within the STAR bond district, a copy of the resolution adopting the STAR bond project plan, and a map or plat indicating the boundaries of the STAR bond project area and STAR bond district to the clerk, treasurer, and governing body of the county and to the Department and Department of Revenue. Within 30 days of creation of any new mailing address within a STAR bond district, the clerk of the political subdivision shall provide written notice of that new address to the Department and the Department of Revenue.
     If a certified copy of the resolution adopting the STAR bond project plan is filed with the Department of Revenue on or before the first day of April, the Department of Revenue, if all other requirements of this subsection are met, shall proceed to collect and allocate any local sales tax increment and any State sales tax increment in accordance with the provisions of this Act on the first day of July next following the adoption and filing. If a certified copy of the resolution adopting the STAR bond project plan is filed with the Department of Revenue after April 1 but on or before the first day of October, the Department of Revenue, if all other requirements of this subsection are met, shall proceed to collect and allocate any local sales tax increment and any State sales tax increment in accordance with the provisions of this Act as of the first day of January next following the adoption and filing.
    Any substantial changes to a STAR bond project plan as adopted shall be subject to a public hearing following publication of notice thereof in a newspaper of general circulation in the political subdivision and approval by resolution of the governing body of the political subdivision.
    The Department of Revenue shall not collect or allocate any local sales tax increment or State sales tax increment until the political subdivision also provides, in the manner prescribed by the Department of Revenue, the boundaries of the STAR bond district and each address in the STAR bond district in such a way that the Department of Revenue can determine by its address whether a business is located in the STAR bond district. The political subdivision must provide this boundary and address information to the Department of Revenue, with a copy to the Department, on or before April 1 for administration and enforcement under this Act by the Department of Revenue beginning on the following July 1 and on or before October 1 for administration and enforcement under this Act by the Department of Revenue beginning on the following January 1. The Department of Revenue shall not administer or enforce any change made to the boundaries of a STAR bond district or any address change, addition, or deletion until the political subdivision reports the boundary change or address change, addition, or deletion to the Department of Revenue, with a copy to the Department, in the manner prescribed by the Department of Revenue. The political subdivision must provide this boundary change or address change, addition, or deletion information to the Department of Revenue, with a copy to the Department, on or before April 1 for administration and enforcement by the Department of Revenue of the change, addition, or deletion beginning on the following July 1 and on or before October 1 for administration and enforcement by the Department of Revenue of the change, addition, or deletion beginning on the following January 1. If a retailer is incorrectly included or excluded from the list of those located in the STAR bond district, the Department of Revenue shall be held harmless if the Department reasonably relied on information provided by the political subdivision.
    (j) Any STAR bond project must be approved by the political subdivision within 23 years after the date of the approval of the STAR bond district; however, any amendments to the STAR bond project may occur following that date.
    (k) Any developer of a STAR bond project shall commence work on the STAR bond project within 3 years from the date of adoption of the STAR bond project plan. If the developer fails to commence work on the STAR bond project within the 3-year period, funding for the project shall cease and the developer of the project or complex shall have one year to appeal to the political subdivision for a one-time reapproval of the project and funding. If the project is reapproved, the 3-year period for commencement shall begin again on the date of the reapproval. If the project is not reapproved or if the developer again fails to commence work on the STAR bond project within the second 3-year period, the project shall be terminated, and the Department may accept applications for a new STAR bond project in the Economic Development Region.
    (l) After the adoption of a STAR bond project plan by the corporate authorities of the political subdivision and approval by the Office of the Governor under subsection (d), the political subdivision may authorize the issuance of STAR bonds in one or more series to finance the STAR bond project or pay or reimburse any eligible project cost within the STAR bond district in accordance with the provisions of this Act.
    (m) Except as otherwise provided in subsection (n), the maximum maturity of STAR bonds issued to finance a STAR bond project shall not exceed 23 years from the first date of distribution of State sales tax increment from the STAR bond project to the political subdivision unless the political subdivision extends that maturity by resolution up to a maximum of 35 years from such first distribution date. Any such extension shall require the approval of the Office of the Governor, upon the recommendation of the Directors. In no event shall the maximum maturity date for any STAR bonds exceed that date which is 35 years from the first distribution date of the first STAR bonds issued in a STAR bond district.
    (n) The maximum maturity of STAR bonds issued to finance a STAR bond project located within a NOVA district shall not exceed 35 years from the first date of distribution of State sales tax increment from the STAR bond project to the political subdivision.
(Source: P.A. 104-453, eff. 12-12-25.)