Sec. 5. Definitions.
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/il/chapter-15/act-560/5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5. Definitions. As used in this Act:
"Development capital" means financing for investments in which the underlying assets involve direct ownership of non-financial assets for developing or expanding in Illinois.
"Illinois infrastructure development firm" means an entity that:
(i)has more than 50% of its employees in Illinois or that has at least one general partner or principal domiciled in Illinois;
(ii)provides financing for investments in which the underlying assets involve direct ownership of non-financial assets to develop or expand in Illinois; or
(iii)has a track record of identifying, evaluating, and investing in Illinois infrastructure development projects and providing financing for investments in which the underlying assets involve direct ownership of non-financial assets to develop or expand in Illinois.
"Illinois infrastructure development project" means a project that has as its principal function investing in real assets to develop economic and social infrastructure including, but not limited to, land, buildings, transportation, utilities, communication, renewable energy, schools, healthcare, and other real assets.
"Significant presence" means at least one physical office and one full-time employee within the geographic borders of this State.
"Track record" means having made, on average, at least one investment in an Illinois infrastructure development project in each of its funds if the Illinois infrastructure development firm has multiple funds or at least 2 investments in Illinois infrastructure development projects if the Illinois infrastructure development firm has only one fund.