Bill Text: IL SB0014 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. In a Section concerning review of credit applications, removes a provision requiring the Business Investment Committee to determine that, if not for the credit, the applicant's project would not occur in Illinois. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB0014 Detail]

Download: Illinois-2011-SB0014-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB0014 Introduced 1/27/2011, by Sen. James F. Clayborne, Jr. SYNOPSIS AS INTRODUCED:
35 ILCS 10/5-25
Amends the Economic Development for a Growing Economy Tax Credit Act. In a Section concerning review of credit applications, removes a provision requiring the Business Investment Committee to determine that, if not for the credit, the applicant's project would not occur in Illinois. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Economic Development for a Growing Economy
Tax Credit Act is amended by changing Section 5-25 as follows:
(35 ILCS 10/5-25)
Sec. 5-25. Review of Application.
(a) In addition to those duties granted under the Illinois
Economic Development Board Act, the Illinois Economic
Development Board shall form a Business Investment Committee
for the purpose of making recommendations for applications. At
the request of the Board, the Director of Commerce and Economic
Opportunity or his or her designee, the Director of the
Governor's Office of Management and Budget or his or her
designee, the Director of Revenue or his or her designee, the
Director of Employment Security or his or her designee, and an
elected official of the affected locality, such as the chair of
the county board or the mayor, may serve as members of the
Committee to assist with its analysis and deliberations.
(b) At the Department's request, the Committee shall
convene, make inquiries, and conduct studies in the manner and
by the methods as it deems desirable, review information with
respect to Applicants, and make recommendations for projects to

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benefit the State. In making its recommendation that an
Applicant's application for Credit should or should not be
accepted, which shall occur within a reasonable time frame as
determined by the nature of the application, the Committee
shall determine that all the following conditions exist:
(1) The Applicant's project intends, as required by
subsection (b) of Section 5-20 to make the required
investment in the State and intends to hire the required
number of New Employees in Illinois as a result of that
project.
(2) The Applicant's project is economically sound and
will benefit the people of the State of Illinois by
increasing opportunities for employment and strengthen the
economy of Illinois.
(3) (Blank). That, if not for the Credit, the project
would not occur in Illinois, which may be demonstrated by
any means including, but not limited to, evidence the
Applicant has multi-state location options and could
reasonably and efficiently locate outside of the State, or
demonstration that at least one other state is being
considered for the project, or evidence the receipt of the
Credit is a major factor in the Applicant's decision and
that without the Credit, the Applicant likely would not
create new jobs in Illinois, or demonstration that
receiving the Credit is essential to the Applicant's
decision to create or retain new jobs in the State.

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(4) A cost differential is identified, using best
available data, in the projected costs for the Applicant's
project compared to the costs in the competing state,
including the impact of the competing state's incentive
programs. The competing state's incentive programs shall
include state, local, private, and federal funds
available.
(5) The political subdivisions affected by the project
have committed local incentives with respect to the
project, considering local ability to assist.
(6) Awarding the Credit will result in an overall
positive fiscal impact to the State, as certified by the
Committee using the best available data.
(7) The Credit is not prohibited by Section 5-35 of
this Act.
(Source: P.A. 94-793, eff. 5-19-06.)