(50 ILCS 475/5-5)
    Sec. 5-5. Purpose; findings.
    (a) The General Assembly finds and declares that the purpose of this Act is to promote, stimulate, and develop the general and economic welfare of the State of Illinois and its communities and to assist in the development and redevelopment of major tourism, entertainment, retail, and related projects within eligible areas of the State, thereby creating new jobs, stimulating significant capital investment, and promoting the general welfare of the citizens of this State, by authorizing municipalities and counties to issue sales tax and revenue (STAR) bonds for the financing of STAR bond projects, as defined in Section 5-10, and to otherwise exercise the powers and authorities granted to municipalities.
    (b) The General Assembly further finds and declares that:
        (1) It is the policy of the State, in the interest of
    
promoting the health, safety, morals, and general welfare of all the people of the State, to provide incentives to create new job opportunities, and to promote major tourism, entertainment, retail, and related projects within the State.
        (2) It is in the public interest to limit the portion
    
of the aggregate proceeds of STAR bonds issued that are derived from the State sales tax increment pledged to pay STAR bonds in any STAR bond district to not more than 50% of the total development costs for a STAR bond project in the STAR bond district as set forth in subsection (g) of Section 5-45.
        (3) As a result of the costs of land assemblage,
    
financing, and infrastructure and other project costs, the private sector, without the assistance contemplated in this Act, is unable to develop major tourism, entertainment, retail, and related projects in some parts of the State.
        (4) The type of projects for which this Act is
    
intended must be of a certain size and scope and must be developed in a cohesive and comprehensive manner.
        (5) The eligible tracts of land are more likely to
    
remain underused and undeveloped or to be developed in a piecemeal manner resulting in inefficient and poorly planned developments that do not maximize job creation, job retention, and tax revenue generation within the State.
        (6) There are multiple eligible areas in the State
    
that could benefit from this Act.
        (7) Investment in major tourism, entertainment,
    
retail, and related development within the State would stimulate economic activity in the State, including the creation and maintenance of jobs, the creation of new and lasting infrastructure and other improvements, and the attraction and retention of interstate tourists and entertainment events that generate significant economic activity.
        (8) The continual encouragement, development, growth,
    
and expansion of major tourism, entertainment, retail, and related projects within the State requires a cooperative and continuous partnership between government and the private sector.
        (9) The State has a responsibility to help create a
    
favorable climate for new and improved job opportunities for its citizens and to increase the tax base of the State and its political subdivisions by encouraging development of major retail spaces within the State by the private sector.
        (10) The provision of additional incentives by the
    
State and its political subdivisions will relieve conditions of unemployment, maintain existing levels of employment, create new job opportunities, retain jobs within the State, increase commerce within the State, and increase the tax base of the State and its political subdivisions.
        (11) The powers conferred by this Act promote and
    
protect the health, safety, morals, and welfare of the State and are for a public purpose and public use for which public money and resources may be expended.
        (12) The necessity in the public interest for the
    
provisions of this Act is hereby declared as a matter of legislative determination.
(Source: P.A. 104-453, eff. 12-12-25.)