Section 527.70  Determination of Amount and Term of the Credit

a)         The Department shall determine the amount and duration of the Credit awarded under the Act.  The duration of the Credit may not exceed 10 taxable years. [35 ILCS 10/5-45]  In determining the appropriate amount and duration of a Credit to be awarded to a Taxpayer, the Department shall take into consideration the following additional factors:

1)         The number and location of jobs created and retained in relation to the economy of the county where the projected investment is to occur.

2)         The potential impact of the Project on the economy of Illinois.

3)         The magnitude of the cost differential between Illinois and the competing states.

4)         The incremental payroll attributable to the Project.

5)         The capital investment attributable to the Project.

6)         The amount of the average wage and benefits paid by the Applicant in relation to the wage and benefits of the area of the Project.

7)         The costs to Illinois and the affected political subdivisions with respect to the Project.

8)         The financial assistance that is otherwise provided by Illinois and the affected political subdivisions.  [35 ILCS 10/5-40]

b)         The Credit may be stated as a percentage of the Incremental Income Tax attributable to the Applicant's Project and may include a fixed dollar limitation.  [35 ILCS 10/5-45]

c)         The Credit shall not exceed the Incremental Income Tax attributable to the Project that is the subject of an Agreement.  [35 ILCS 10/5-15(d)]

d)         The total amount of the Credit allowed during all tax years may not exceed the aggregate amount of costs incurred by the Taxpayer during all prior tax years to the extent provided in the Agreement.  [35 ILCS 10/5-30]

e)         Applicants that qualify for increased EDGE benefits under the Business Location Efficiency Incentive Act may receive:

1)         up to 10 percent more than the maximum allowable tax credits for which they are eligible under the Act, but not to exceed 100 percent of the applicant's tax liability; or

2)         such other adjustments of those tax credits, including but not limited to authorizing the term of the credit to exceed 10 taxable years, as the Department deems appropriate to foster job creation and retention in Illinois.

f)         Nothing in this Section shall prohibit a Tax Credit Award to an Applicant that uses a Professional Employer Organization if all other award criteria are satisfied.

(Source:  Amended at 42 Ill. Reg. 6320, effective March 20, 2018)