Bill Text: IL SB1567 | 2017-2018 | 100th General Assembly | Engrossed


Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that each taxpayer claiming a credit under the Act shall, no later than April 15 of each taxable year for which the taxpayer claims a credit, submit to the Illinois Commerce Commission an annual report containing certain information concerning procurement goals and spending for female-owned, minority-owned, veteran-owned, and small business enterprises. Provides that the reports shall be submitted in the form and manner required by the Illinois Commerce Commission. Effective immediately.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Engrossed) 2017-05-24 - Placed on Calendar Order of 3rd Reading - Short Debate [SB1567 Detail]

Download: Illinois-2017-SB1567-Engrossed.html



SB1567 EngrossedLRB100 06206 HLH 16240 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Economic Development for a Growing Economy
5Tax Credit Act is amended by adding Section 5-57 as follows:
6 (35 ILCS 10/5-57 new)
7 Sec. 5-57. Supplier diversity goals; reports. Each
8taxpayer claiming a credit under this Act shall, no later than
9April 15 of each taxable year for which the taxpayer claims a
10credit under this Act, submit to the Department of Commerce and
11Economic Opportunity an annual report containing the
12information described in subsections (b), (c), (d), and (e) of
13Section 5-117 of the Public Utilities Act. Those reports shall
14be submitted in the form and manner required by the Department
15of Commerce and Economic Opportunity.
16 Section 99. Effective date. This Act takes effect upon
17becoming law.
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