# 50 ILCS 475/5-5: 50 ILCS 475/5-5

> Illinois · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-5

## Section

- **Citation:** 50 ILCS 475/5-5
- **Heading:** 50 ILCS 475/5-5
- **Jurisdiction:** Illinois
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Code / Chapter 50 / Act 475 / Section 5-5

## Text

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

## Nearby sections

- [50 ILCS 475/5-1 50 ILCS 475/5-1](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-1.md)
- [50 ILCS 475/5-5 50 ILCS 475/5-5](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-5.md)
- [50 ILCS 475/5-10 50 ILCS 475/5-10](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-10.md)
- [50 ILCS 475/5-15 50 ILCS 475/5-15](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-15.md)
- [50 ILCS 475/5-20 50 ILCS 475/5-20](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-20.md)
- [50 ILCS 475/5-25 50 ILCS 475/5-25](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-25.md)
- [50 ILCS 475/5-30 50 ILCS 475/5-30](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-30.md)
- [50 ILCS 475/5-35 50 ILCS 475/5-35](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-35.md)
- [50 ILCS 475/5-40 50 ILCS 475/5-40](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-40.md)
- [50 ILCS 475/5-45 50 ILCS 475/5-45](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-45.md)
- [50 ILCS 475/5-50 50 ILCS 475/5-50](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-50.md)
- [50 ILCS 475/5-55 50 ILCS 475/5-55](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-55.md)
- [50 ILCS 475/5-60 50 ILCS 475/5-60](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-60.md)
- [50 ILCS 475/5-65 50 ILCS 475/5-65](https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-65.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_C50_A475_S5-5. Check the current official text before relying on it. Not legal advice.