Section 520.640  Application Approval Process

a)         Application Submissions.  Applications may be submitted to the Department at any time during the year.

b)         Approvals and Denials.  The Department shall approve or deny an application within 30 days.  If the Department denies the initial application, it will specify the reasons for the denial in writing and allow the applicant 30 days to amend and resubmit the application.  Resubmitted applications will be approved or denied in writing within 30 days after receipt.  In no event shall the review period last longer than 90 days.  In the event of a complaint by the applicant, the Department will follow the procedures outlined in 56 Ill. Adm. Code 2605 (Administrative Hearing Rules).

c)         Notification of Designation.  If the applicant is eligible, in accordance with Section 520.620, the Department will notify the applicant in writing of designation as a High Impact Business and transmit a copy of the designation to the Illinois Department of Revenue.

d)         Tax Credits and Exemptions (Investments).  Applicants designated as High Impact Business pursuant to Section 5.5(a)(3)(A) of the Act shall qualify for the credits and exemptions described in the following Acts:  Sections 9-222 and 9-222.1A of the Public Utilities Act [220 ILCS 5/9-222 and 9-222.1A]; Section 201(h) of the Illinois Income Tax Act [35 ILCS 5/201(h)]; and Sections 1d, 1e, and 5l of the Retailers' Occupation Tax Act [35 ILCS 120/1d, 1e and 5l]; provided that the credits and exemptions described in these Acts shall not be authorized until the minimum investments have been placed in service in qualified properties, and in the case of the exemptions described in the Public Utilities Act and the Retailers' Occupation Tax Act, the minimum full-time equivalent jobs or full-time jobs shall have been created or retained.

e)         Tax Credits and Exemptions (New Electric Generating Facility, New Coal Mine, and New Transmission Facility).  Applicants designated as High Impact Businesses pursuant to Section 5.5(a)(3)(B), (a)(3)(C), and (a)(3)(D) of the Act shall qualify for the credits and exemptions described in the following Acts: Section 5l of the Retailers' Occupation Tax Act, Sections 9-222 and 9-222.1A of the Public Utilities Act, and Section 201(h) of the Illinois Income Tax Act, however, the credits and exemptions authorized under Sections 9-222 and 9-222.1A of the Public Utilities Act, and Section 201(h) of the Illinois Income Tax Act, shall not be authorized until the new electric generating facility, the new transmission facility, or the new, expanded, or reopened coal mine is operational; and except that  a new electric generating facility whose primary fuel source is natural gas is eligible only for the exemption under Section 5l of the Retailers' Occupation Tax Act.

f)         Tax Credits and Exemptions (New Wind Power Facility).  Applicants designated as High Impact Businesses pursuant to Section 5.5(a)(3)(E) of the Act shall qualify for the exemptions described in Section 5l of the Retailers' Occupation Tax Act. [20 ILCS 655/5.5(b-6)]

g)         Additional Tax Credits and Exemptions (Foreign Trade Zones and Sub-Zones).  High Impact Businesses located in federally designated foreign trade zones or sub-zones are also eligible for additional credits, exemptions, and deductions as described in the following Acts:  Section 9-221 of the Public Utilities Act; Sections 201(g) and 203 of the Illinois Income Tax Act; and Section 51 of the Retailers' Occupation Tax Act.

h)         Duty to Notify of Investments.  Prior to authorization for the credits and exemptions described in Section 9-222 of the Public Utilities Act and Section 1d of the Retailers' Occupation Tax Act, businesses shall notify the Department, on forms provided by the Department, when the minimum eligible investment has been placed in service in qualified property and the minimum full-time equivalent or full-time jobs have been created or retained.

(Source:  Amended at 38 Ill. Reg. 457, effective December 20, 2013)