Bill Text: IL HR0381 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Directs the Auditor General to conduct a performance audit of the Department of Commerce and Economic Opportunity's Economic Development for a Growing Economy (EDGE) Tax Credit Program.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-06-01 - Added Chief Co-Sponsor Rep. Debbie Meyers-Martin [HR0381 Detail]
Download: Illinois-2019-HR0381-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, The Economic Development for a Growing Economy | ||||||
| 3 | (EDGE) Tax Credit Program
is an economic development tool | ||||||
| 4 | operated by the Illinois Department of Commerce and
Economic | ||||||
| 5 | Opportunity; and
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| 6 | WHEREAS, The EDGE Tax Credit Program is a targeted | ||||||
| 7 | incentive program that provides tax
credits for businesses that | ||||||
| 8 | create new full-time jobs, retain existing full-time jobs, and | ||||||
| 9 | make
capital investments in Illinois; and
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| 10 | WHEREAS, The EDGE Tax Credit Program is designed to help | ||||||
| 11 | areas of Illinois that are in
direct competition with other | ||||||
| 12 | states for jobs and development; and
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| 13 | WHEREAS, According to the 2017 EDGE Annual Report, since | ||||||
| 14 | 1999 nearly $1.7 billion in tax
credits have been issued, | ||||||
| 15 | 41,238 jobs were reported to have been created, and 46,160 jobs | ||||||
| 16 | were
reported to have been retained; and
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| 17 | WHEREAS, According to the FY17 Comprehensive Annual | ||||||
| 18 | Financial Report, the State of
Illinois abated income taxes | ||||||
| 19 | totaling approximately $179.1 million through the EDGE program
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| 20 | for FY17; and
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| 1 | WHEREAS, Public Act 100-511 made significant changes to and | ||||||
| 2 | extended the EDGE Tax
Credit Program; therefore, be it
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| 3 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 4 | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 5 | the Auditor General is directed to conduct a performance audit
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| 6 | of the Department of Commerce and Economic Opportunity's | ||||||
| 7 | Economic Development for a
Growing Economy (EDGE) Tax Credit | ||||||
| 8 | Program; and be it further
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| 9 | RESOLVED, That the performance audit shall include, but not | ||||||
| 10 | be limited to, the following
determinations: | ||||||
| 11 | (1) Whether the Department is administering the EDGE | ||||||
| 12 | program in accordance with
applicable laws, rules, | ||||||
| 13 | policies, and procedures; | ||||||
| 14 | (2) Whether the Department is adequately monitoring | ||||||
| 15 | EDGE recipients; | ||||||
| 16 | (3) Whether the Department has implemented the changes | ||||||
| 17 | required under Public Act 100-
511; | ||||||
| 18 | (4) Whether the Department is regularly assessing the | ||||||
| 19 | effectiveness of the EDGE program;
and | ||||||
| 20 | (5) Whether the EDGE tax incentives in Illinois are | ||||||
| 21 | similar to programs in surrounding
states; and be it | ||||||
| 22 | further
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| 23 | RESOLVED, That the audit include an analysis of the amount | ||||||
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| 1 | of tax credits approved and the number of jobs created or | ||||||
| 2 | retained; and be it further
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| 3 | RESOLVED, That the Department of Commerce and Economic | ||||||
| 4 | Opportunity cooperate fully and
promptly with the Auditor | ||||||
| 5 | General in the conduct of this audit; and be it further
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| 6 | RESOLVED, That the Auditor General commence this audit as | ||||||
| 7 | soon as possible and submit his
report, including his findings | ||||||
| 8 | and recommendations, upon completion in accordance with the
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| 9 | provisions of Section 3-14 of the Illinois State Auditing Act; | ||||||
| 10 | and be it further
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| 11 | RESOLVED, That a copy of this resolution be delivered to | ||||||
| 12 | the Auditor General and the
Department of Commerce and Economic | ||||||
| 13 | Opportunity.
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