2005 Illinois Code - Chapter 740 Civil Liabilities 740 ILCS 30/ Community Investment Recovery Act.

(740 ILCS 30/1) (from Ch. 67 1/2, par. 651)

Sec. 1.

This Act may be cited as the Community Investment Recovery Act.

(Source: P.A. 87‑212.)

(740 ILCS 30/5) (from Ch. 67 1/2, par. 655)

Sec. 5.

Liability.

If, at the written request of a business, a State
agency or unit of local government acquires, constructs, improves, or
modifies any real property that results in a business locating or remaining
on real property within the State or the unit of local government, that
business shall be liable for damages to the State or unit of local
government if the business closes down or terminates its operations on the
real property within 24 months after commencing operations or, in the case
of a business that remains in the State or unit of local government after
real property is acquired or modified for its benefit, 24 months after the
new or modified real property is first utilized by the business.  The
amount of damages shall equal the costs of acquiring, constructing,
improving, or modifying the real property.

(Source: P.A. 87‑212.)

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