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

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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

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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
SB2878 LRB101 19469 RJF 68942 b
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Corporate Accountability for Tax
Expenditures Act is amended by changing Section 10 as follows:
(20 ILCS 715/10)
Sec. 10. Unified Economic Development Budget.
(a) For each State fiscal year ending on or after June 30,
2005, the the Department of Revenue shall submit an annual
Unified Economic Development Budget to the General Assembly.
The Unified Economic Development Budget shall be due within 3
months after the end of the fiscal year, and shall present all
types of development assistance granted, including:
(1) The aggregate amount of uncollected or diverted
State tax revenues resulting from each type of development
assistance provided in the tax statutes, as reported to the
Department of Revenue for tax years beginning during the
third preceding calendar year.
(2) All State development assistance granted during
the prior fiscal year.
(b) All data contained in the Unified Economic Development
Budget presented to the General Assembly shall be fully subject
to the Freedom of Information Act.

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