Section 510.450  Annual Certification

a)         The unit of local government, municipal convention center, convention center authority or municipal sports facility shall certify, no later than May 15 of each year through May 15, 2020, to the Department the amounts of funds expended in the previous fiscal year to provide qualified incentives; however, in no event may the amount certified exceed $200,000 for any municipal convention center, convention center authority or municipal amateur sports facility in any calendar year.

b)         The unit of local government, convention center, convention center authority or municipal sports facility shall certify:

1)         The net proceeds received under the Hotel Operators' Occupation Tax Act for the renting, leasing or letting of hotel rooms in the municipality for the month in which the convention, meeting or trade show occurs; and

2)         The average of the net proceeds received under the Hotel Operators' Occupation Tax Act for the renting, leasing or letting of hotel rooms in the municipality for the same month in the three immediately preceding years.

c)         The unit of local government, municipal convention center, convention center authority or municipal sports facility shall include the incentive amounts as part of its regular audit identified in subsection (a).

(Source:  Added at 40 Ill. Reg. 10844, effective July 29, 2016)