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Illinois Industrial Development Authority - RG 412 | Illinois State Archives

Name: Illinois Industrial Development Authority - RG 412


Historical Note:

The Illinois Industrial Development Authority was created in 1961 as a political subdivision, body politic, and municipal corporation (L. 1961, p. 3148). Composed of the director of the Department of Labor, executive director of the Board of Economic Development, and three gubernatorial appointees, the authority was to acquire, develop, or construct industrial properties in areas of critical unemployment. The authority further was empowered to accept grants, loans, or appropriations from the federal government. The authority also could issue revenue bonds or other types of indebtedness under specified conditions.

In March 1962 the Illinois Supreme Court declared the manner of transferring funds from the State Treasury to the authority to be unconstitutional thereby rendering the act creating the authority ineffective (24 Ill. 2d 545). In 1967 the General Assembly reestablished the authority by modifying the appropriations provisions of the original act to conform to the Supreme Court ruling (L. 1967, p. 4192).






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