IL SB0674 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 25 2021 - 25% progression, died in committee
Action: 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 25 2021 - 25% progression, died in committee
Action: 2021-04-16 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Phase Out Corporate Giveaways Interstate Compact. Enters into the compact, which may be entered into by any state and the District of Columbia, in which each member state agrees not to offer or provide any company-specific tax incentive or company-specific grant to any entity for a corporate headquarters, manufacturing facility, office space, or other real estate development located in any other member state as an inducement for the corporate headquarters, manufacturing facility, office space, or other real estate development to relocate to the offering member state. Defines terms. Excludes: (1) workforce development grants that train employees; (2) company-specific tax incentives or company-specific grants from local governments; and (3) specified company-specific tax incentives or company-specific grants related to companies already within the member state. Creates the Phase Out Corporate Giveaways Board and provides for membership and meeting requirements. Provides for withdrawal of a member state with a 6-month written notice to each member state's chief executive officer. Contains construction and severability provisions.
Title
CORPORATE GIVEAWAYS COMPACT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2021-04-16 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2021-03-09 | Senate | Assigned to Revenue |
2021-02-25 | Senate | Referred to Assignments |
2021-02-25 | Senate | First Reading |
2021-02-25 | Senate | Filed with Secretary by Sen. Ram Villivalam |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=674&GAID=16&DocTypeID=SB&SessionID=110&GA=102 |
Text | https://www.ilga.gov/legislation/102/SB/10200SB0674.htm |