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Payments In Lieu Of Taxes

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Illinois lawmakers seek local-stadium authority plan to keep Bears amid stalled tax-break bill
politics1 day ago

Illinois lawmakers seek local-stadium authority plan to keep Bears amid stalled tax-break bill

With the Bears’ proposed 40-year tax-break megaproject failing to secure Senate votes, lawmakers are crafting an alternative that would let municipalities create public stadium authorities to offer tax-exempt financing and incentives to keep the team in Illinois—potentially in Arlington Heights, Chicago, or elsewhere—while avoiding a long statewide tax cut and addressing property-tax relief concerns before the Sunday deadline.