ILCS » Chapter 20 · Act 655
Illinois Compiled Statutes

20 ILCS 655/2 (2026)

The General Assembly finds and declares that the health, safety and welfare of the people of this State are dependent upon a healthy economy and vibrant communities; that the continual encouragement, development, growth and expansion of the private sector within the State requires a cooperative and continuous partnership between government and the private sector; and that there are certain depressed areas in this State that need the particular attention of government, business, labor and the citizens of Illinois to help attract private sector investment into these areas and directly aid the local community and its residents

✓ current as of May 2026
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(20 ILCS 655/2) (from Ch. 67 1/2, par. 602)
    Sec. 2. The General Assembly finds and declares that the health, safety and welfare of the people of this State are dependent upon a healthy economy and vibrant communities; that the continual encouragement, development, growth and expansion of the private sector within the State requires a cooperative and continuous partnership between government and the private sector; and that there are certain depressed areas in this State that need the particular attention of government, business, labor and the citizens of Illinois to help attract private sector investment into these areas and directly aid the local community and its residents. Therefore, it is declared to be the purpose of this Act to explore ways and means of stimulating business and industrial growth and retention in depressed areas and stimulating neighborhood revitalization of depressed areas of the State by means of relaxed government controls and tax incentives in those areas.
(Source: P.A. 82-1019.)

    
Notes of Decisions
Cited in 4 cases, 1995–2019 · leading case: West Belmont, L.L.C. v. City of Chicago, 811 N.E.2d 220 (Ill. App. Ct. 2004).
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West Belmont, L.L.C. v. City of Chicago, 811 N.E.2d 220 (Ill. App. Ct. 2004). · cites it 2× “20 ILCS 655/2 (West 2002). The Department’s interpretation is not unworkable or unenforceable, as West Belmont contends.”
Peterson Plaza Pres., L.P. v. City of Chicago Dep't of Fin., 2019 IL App (1st) 181502 (Ill. App. Ct. 2019). · cites it 2× “Therefore, it is declared to be the purpose of this Act to explore ways and means of stimulating business and industrial growth and retention in depressed areas and stimulating neighborhood revitalization of depressed areas of the State by means of relaxed government controls…”
Craftmasters, Inc. v. Dep't of Revenue, 647 N.E.2d 607 (Ill. App. Ct. 1995). “” (20 ILCS 655/2 (West 1992).) Presumably retailers pass along the tax savings gained through exemptions to their customers.”
West Belmont, L.L.C. v. City of Chicago (Ill. App. Ct. 2004). · cites it 2× “See 20 ILCS 655/2 (West 2002). The Department's interpretation is not unworkable or unenforceable, as West Belmont contends.”
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