Bill Text: IL SB2878 | 2019-2020 | 101st General Assembly | Introduced


Bill Title: Amends the Corporate Accountability for Tax Expenditures Act. Makes a technical change in a Section concerning an annual budget.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB2878 Detail]

Download: Illinois-2019-SB2878-Introduced.html


101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2878

Introduced 2/4/2020, by Sen. Emil Jones, III

SYNOPSIS AS INTRODUCED:
20 ILCS 715/10

Amends the Corporate Accountability for Tax Expenditures Act. Makes a technical change in a Section concerning an annual budget.
LRB101 19469 RJF 68942 b

A BILL FOR

SB2878LRB101 19469 RJF 68942 b
1 AN ACT concerning State government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Corporate Accountability for Tax
5Expenditures Act is amended by changing Section 10 as follows:
6 (20 ILCS 715/10)
7 Sec. 10. Unified Economic Development Budget.
8 (a) For each State fiscal year ending on or after June 30,
92005, the the Department of Revenue shall submit an annual
10Unified Economic Development Budget to the General Assembly.
11The Unified Economic Development Budget shall be due within 3
12months after the end of the fiscal year, and shall present all
13types of development assistance granted, including:
14 (1) The aggregate amount of uncollected or diverted
15 State tax revenues resulting from each type of development
16 assistance provided in the tax statutes, as reported to the
17 Department of Revenue for tax years beginning during the
18 third preceding calendar year.
19 (2) All State development assistance granted during
20 the prior fiscal year.
21 (b) All data contained in the Unified Economic Development
22Budget presented to the General Assembly shall be fully subject
23to the Freedom of Information Act.

SB2878- 2 -LRB101 19469 RJF 68942 b
1 (c) The Department of Revenue shall submit a report of the
2amounts in subdivision (a)(1) of this Section to the
3Department, which may append such report to the Unified
4Economic Development Budget rather than separately reporting
5such amounts.
6(Source: P.A. 100-721, eff. 8-3-18.)
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