Bill Text: IL HB3365 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. Removes provisions concerning conditions that the Business Investment Committee shall determine exist in order for the Committee to make its recommendation that an Applicant's application for Credit should or should not be accepted. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee [HB3365 Detail]

Download: Illinois-2019-HB3365-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB3365 Introduced , by Rep. Andrew S. Chesney SYNOPSIS AS INTRODUCED:
35 ILCS 10/5-25
Amends the Economic Development for a Growing Economy Tax Credit Act. Removes provisions concerning conditions that the Business Investment Committee shall determine exist in order for the Committee to make its recommendation that an Applicant's application for Credit should or should not be accepted. 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 to work at a project location 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
evidence that receipt of the Credit is essential to the
Applicant's decision to create new jobs in the State, such
as the magnitude of the cost differential between Illinois
and a competing State; in addition, if the Applicant is
seeking an increase in the maximum amount of the Credit for
retained employees, the Applicant must provide evidence
the Applicant has multi-state location options and could
reasonably and efficiently locate outside of the State or
demonstrate that at least one other state is being
considered for the project.

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(4) (Blank). 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. 100-511, eff. 9-18-17.)
Section 99. Effective date. This Act takes effect upon
becoming law.