Bill Title: Creates the Cairo Development Authority Act. Creates the Cairo Development Authority for the purpose of facilitating and promoting the redevelopment of certain property in Cairo and the surrounding areas. Provides that the jurisdiction of the Authority extends over Alexander County. Provides that the Authority is governed by a 5-member Board of Directors. Sets forth the powers and responsibilities of the Authority, including the power to acquire, own, lease, sell, and dispose of real property and, under the supervision of the Illinois Finance Authority, the power to issue revenue bonds. Contains other provisions. Amends the Illinois Finance Authority Act. Provides that all bond issuances of the Cairo Development Authority are subject to supervision, management, control, and approval of the Illinois Finance Authority. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Engrossed) 2023-10-27 - Alternate Chief Sponsor Changed to Rep. Jay Hoffman [SB0688 Detail]

Text: Latest bill text (Engrossed) [HTML]

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