Section 580.50  Application Review

a)         Prior to substantive evaluation of an application, the Department shall screen all applications to determine that all requirements of the application package, as described in Section 580.40, have been addressed.  Applicants will be notified of deficiencies in applications and given an opportunity to correct those deficiencies through submission of additional documentation.

b)         In evaluating applications, the Department shall evaluate and confirm if all of the criteria in subsections (b)(1) through (4) are met.  If the applicant demonstrates that all criteria are met, the Department will notify the applicant by electronic mail that the application was accepted. If the applicant cannot demonstrate that all four conditions exist, the application should be denied and notification to the applicant provided in accordance with Section 580.60.

1)         the applicant intends to make the required investment in the State and intends to hire the required number of full-time employees;

2)         the applicant's project is economically sound and will benefit the people of the State by increasing opportunities for employment and strengthen the economy of the State;

3)         awarding the credit will result in an overall positive fiscal impact to the State, as certified by the Department using the best available data; and

4)         the credit is not prohibited under this Act. [20 ILCS 686/25]

c)         A taxpayer may not enter into more than one agreement under this Act with respect to a single address or location for the same period of time. Also, a taxpayer may not enter into an agreement under this Act with respect to a single address or location for the same period of time for which the taxpayer currently holds an active agreement under the Economic Development for a Growing Economy Tax Credit Act. This provision does not preclude the applicant from entering into an additional agreement after the expiration or voluntary termination of an earlier agreement under this Act or under the Economic Development for a Growing Economy Tax Credit Act to the extent the taxpayer's application otherwise satisfies the terms and conditions of the Act and is approved by the Department. (20 ILCS 686/20(h))