Bill Text: IL SB3806 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Reinserts the provisions of the introduced bill. Further amends the Film Production Services Tax Credit Act of 2008 to remove provisions providing that certain deposits into the Illinois Production Workforce Development Fund are based on the amount transferred in the quarter during which the credit was transferred.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-05-03 - Rule 3-9(a) / Re-referred to Assignments [SB3806 Detail]
Download: Illinois-2023-SB3806-Introduced.html
| ||||||||||||||||||||
| ||||||||||||||||||||
| ||||||||||||||||||||
1 | AN ACT concerning revenue.
| |||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
| |||||||||||||||||||
4 | Section 5. The Film Production Services Tax Credit Act of | |||||||||||||||||||
5 | 2008 is amended by changing Section 46 as follows:
| |||||||||||||||||||
6 | (35 ILCS 16/46) | |||||||||||||||||||
7 | Sec. 46. Illinois Production Workforce Development Fund. | |||||||||||||||||||
8 | (a) The Illinois Production Workforce Development Fund is | |||||||||||||||||||
9 | created as a special fund in the State Treasury. Beginning | |||||||||||||||||||
10 | July 1, 2023 July 1, 2022 , amounts paid to the Department of | |||||||||||||||||||
11 | Commerce and Economic Opportunity pursuant to Section 213 of | |||||||||||||||||||
12 | the Illinois Income Tax Act shall be deposited into the Fund. | |||||||||||||||||||
13 | The Fund shall be used exclusively to provide grants to | |||||||||||||||||||
14 | community-based organizations, labor organizations, private | |||||||||||||||||||
15 | and public universities, community colleges, and other | |||||||||||||||||||
16 | organizations and institutions that may be deemed appropriate | |||||||||||||||||||
17 | by the Department to administer workforce training programs | |||||||||||||||||||
18 | that support efforts to recruit, hire, promote, retain, | |||||||||||||||||||
19 | develop, and train a diverse and inclusive workforce in the | |||||||||||||||||||
20 | film industry. | |||||||||||||||||||
21 | (b) Pursuant to Section 213 of the Illinois Income Tax | |||||||||||||||||||
22 | Act, the Fund shall receive deposits in amounts not to exceed | |||||||||||||||||||
23 | 0.25% of the amount of each credit certificate issued that is |
| |||||||
| |||||||
1 | not calculated on out-of-state wages and transferred or | ||||||
2 | claimed on an Illinois tax return in the quarter such credit | ||||||
3 | was transferred or claimed . In addition, such amount shall | ||||||
4 | also include 2.5% of the credit amount calculated on wages | ||||||
5 | paid to nonresidents that is transferred or claimed on an | ||||||
6 | Illinois tax return in the quarter such credit was transferred | ||||||
7 | or claimed . | ||||||
8 | (c) At the request of the Department, the State | ||||||
9 | Comptroller and the State Treasurer may advance amounts to the | ||||||
10 | Fund on an annual basis not to exceed $1,000,000 in any fiscal | ||||||
11 | year. The fund from which the moneys are advanced shall be | ||||||
12 | reimbursed in the same fiscal year for any such advance | ||||||
13 | payments as described in this Section. The method of | ||||||
14 | reimbursement shall be set forth in rules. | ||||||
15 | (d) Of the appropriated funds in a given fiscal year, 50% | ||||||
16 | of the appropriated funds shall be reserved for organizations | ||||||
17 | that meet one of the following criteria. The organization is: | ||||||
18 | (1) a minority-owned business, as defined by the Business | ||||||
19 | Enterprise for Minorities, Women, and Persons with | ||||||
20 | Disabilities Act; (2) located in an underserved area, as | ||||||
21 | defined by the Economic Development for a Growing Economy Tax | ||||||
22 | Credit Act; or (3) on an annual basis, training a cohort of | ||||||
23 | program participants where at least 50% of the program | ||||||
24 | participants are either a minority person, as defined by the | ||||||
25 | Business Enterprise for Minorities, Women, and Persons with | ||||||
26 | Disabilities Act, or reside in an underserved area, as defined |
| |||||||
| |||||||