Amends the Property Tax Code. Provides that the Department of Commerce and Economic Opportunity may certify certain projects as megaprojects. Provides that property that receives a megaproject certificate is eligible for an assessment freeze. Contains provisions concerning special payments. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois, the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Contains provisions concerning a megaproject building materials exemption. Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Amends the Election Code, the Counties Code, the Township Code, the Illinois Local Library Act, the School Code, and the Public Community College Act. In provisions concerning the issuance of bonds, provides that the affected bond referenda must be held at a general election (rather than at a regularly scheduled election). Effective immediately.