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Public Act 096-1429
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| HB5230 Enrolled | LRB096 17698 HLH 33062 b |
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Corporate Accountability for Tax |
Expenditures Act is amended by changing Section 20 as follows:
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(20 ILCS 715/20)
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Sec. 20. State development assistance disclosure.
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(a) Beginning February 1, 2005 and each year thereafter, |
every State
granting body shall submit to the Department copies |
of all development
assistance agreements that it approved in |
the prior calendar year.
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(b) For each development assistance agreement for which the |
date of
assistance has occurred in the prior calendar year, |
each recipient shall
submit to the Department a progress |
report. A recipient of multiple development assistance |
agreements in the same award year and for a single project site |
may file a consolidated progress report if the applicant's base |
number of employees and number of jobs to be created and |
retained as stated in the multiple development assistance |
agreements or applications are the same. A progress report that |
shall include, but not be
limited to, the following:
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(1) Each The application tracking number.
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(2) The office mailing address, telephone number, and |
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the name of the
chief
officer of the granting body.
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(3) The office mailing address, telephone number, |
4-digit SIC
number or successor number,
and the name of the |
chief officer of the applicant or authorized designee
for |
the specific project site for which the
development
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assistance was approved by the State granting body.
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(4) The type of development assistance program and |
value of assistance
that was approved by the State granting |
body.
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(5) The applicant's total number of employees at the |
specific project
site on the
date that the application was |
submitted to the State granting body and the
applicant's |
total number of employees at the
specific
project site on |
the date of the report, including the number of full-time,
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permanent jobs, the number of
part-time jobs, and
the |
number of temporary jobs, and a computation of the gain or |
loss of jobs in
each category.
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(6) The number of new employees and retained employees |
the applicant
stated
in its development assistance |
agreement, if any, if not, then in its
application, would |
be created
by the development assistance broken down by |
full-time, permanent, part-time,
and
temporary.
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(7) A declaration of whether the recipient is
in |
compliance with each the development assistance agreement.
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(8) A detailed list of the occupation or job |
classifications and number
of new employees or
retained |
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employees to be hired in full-time, permanent jobs, a |
schedule of
anticipated
starting dates of the new hires and |
the actual average wage by occupation or
job classification
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and total payroll to be created as a result of the |
development assistance.
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(9) A narrative, if necessary, describing how the |
recipient's use of the
development assistance during the |
reporting year has reduced employment at
any site in |
Illinois.
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(10) A certification by the chief officer of the
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applicant
or his or her authorized designee that the |
information in the progress report
contains no
knowing |
misrepresentation of material facts upon which eligibility |
for
development
assistance is based.
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(11) Any other information the Department shall deem |
necessary to ensure compliance with a development |
assistance program. |
(c) The State granting body, or a successor agency,
shall |
have full
authority to verify information contained in the |
recipient's progress report,
including the authority to
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inspect the specific project site and
inspect the records of |
the recipient that are subject to the development
assistance |
agreement.
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(d) By June 1, 2005 and by June 1 of each year thereafter, |
the
Department shall compile
and publish all data in all of the |
progress reports in
both written and electronic form.
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(e) If a recipient of development assistance fails to |
comply with
subsection (b) of this Section, the Department |
shall, within 20 working days
after the
reporting submittal
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deadlines set forth in (i) the legislation authorizing, (ii) |
the
administrative rules implementing, or
(iii) specific |
provisions in development assistance agreements pertaining to
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the development assistance programs, suspend within 33 working |
days any current
development
assistance to the
recipient under |
its control, and shall be prohibited from completing any
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current or providing any
future development assistance until it |
receives proof that the recipient has
come into compliance
with |
the requirements of subsection (b) of this Section.
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(f) The Department shall have the discretion to modify the |
information
required
in the progress report required under |
subsection (b) consistent with the
disclosure purpose
of this |
Section for any grants under the Industrial Training Program |
that are
not given as
an incentive to a recipient business |
organization.
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(Source: P.A. 93-552, eff. 8-20-03.)
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Section 10. The Build Illinois Act is amended by changing |
Section 10-3 as follows:
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(30 ILCS 750/10-3) (from Ch. 127, par. 2710-3)
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Sec. 10-3. Powers and Duties. The Department has the power |
to:
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(a) Provide loans from the Build Illinois Bond Fund, the |
Fund for Illinois' Future, or the Large Business
Attraction |
Fund to a business undertaking a project and accept mortgages |
or
other evidences of indebtedness or security of such |
business.
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(b) Provide grants from the Build Illinois Bond Fund, the |
Fund for Illinois' Future, or the Large Business
Attraction |
Fund to or for the direct
benefit of a business undertaking a |
project. Any such grant shall (i) be
made and used only for the |
purpose of assisting the financing of the
business for the |
project in order to reduce the cost of financing to the
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business, (ii) be made only if a participating lender, or other |
funding
source including the applicant, also provides a portion |
of the financing
with respect to the project, and only if the |
Department determines, on the
basis of all the information |
available to it, that the project would not be
undertaken in |
Illinois unless the grant is provided, (iii) provide no more
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than 25% of the total dollar amount of any single project cost |
and be
approved for amounts from the Fund not to exceed |
$500,000 for any single
project, unless waived by the Director |
upon a finding that such waiver is
appropriate to accomplish |
the purpose of this Article, (iv) be made only
after the |
Department has determined that the grant will cause a project |
to
be undertaken which has the potential to create substantial |
employment in
relation to the amount of the grant, and (v) be |
made with a business that
has certified the project is a new |
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plant start-up or expansion and is not a
relocation of an |
existing business from another site in Illinois unless
that |
relocation results in substantial employment growth.
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(c) Enter into agreements, accept funds or grants and |
cooperate with
agencies of the federal government, local units |
of government and local
regional economic development |
corporations or organizations for the purposes of
carrying out |
this Article.
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(d) Enter into contracts, letters of credit or any other |
agreements or
contracts with financial institutions necessary |
or desirable to carry out the
purposes of this Article. Any |
such agreement or contract may include, without
limitation, |
terms and provisions relating to a specific project such as |
loan
documentation, review and approval procedures, |
organization and servicing
rights, default conditions and |
other program aspects.
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(e) Fix, determine, charge and collect any premiums, fees, |
charges, costs
and expenses, including application fees, |
commitment fees, program fees,
financing charges or |
publication fees in connection with its activities under
this |
Article.
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(f) Establish application, notification, contract and |
other procedures,
rules or regulations deemed necessary and |
appropriate.
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(g) Subject to the provisions of any contract with another |
person and
consent to the modification or restructuring of any |
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loan agreement to which the
Department is a party.
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(h) Take any actions which are necessary or appropriate to |
protect the
State's interest in the event of bankruptcy, |
default, foreclosure or
noncompliance with the terms and |
conditions of financial assistance or
participation provided |
under this Article, including the power to sell,
dispose, lease |
or rent, upon terms and conditions determined by the Director |
to
be appropriate, real or personal property which the |
Department may receive as a
result thereof.
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(i) Acquire and accept by gift, grant, purchase or |
otherwise, but not by
condemnation, fee simple title, or such |
lesser interest as may be desired, in
land, and to improve or |
arrange for the improvement of such land for industrial
or |
commercial site development purposes, and to lease or convey |
such land, or
interest in land, so acquired and so improved, |
including sale and conveyance
subject to a mortgage, for such |
price, upon such terms and at such time as the
Department may |
determine, provided that prior to exercising its authority |
under
this subsection, the Director shall find that other means |
of financing and
developing any such project are not reasonably |
available and that such action
is consistent with the purposes |
and policies of this Article.
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(j) Provide grants from the Build Illinois Bond Fund to |
municipalities and counties to demolish abandoned buildings
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pursuant to Section 11-31-1 of the Illinois Municipal Code or |
Section 5-1080 of
the Counties Code, for the purpose of making |
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unimproved land available for
purchase by businesses for |
economic development. Such grants shall be provided
only when: |
(1) the owner of property on which the abandoned building is
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situated has entered into a contract to sell such property; (2) |
the Department
has determined that the grant will be used to |
cause a project to be undertaken
which will result in the |
creation of employment; (3) the business which has
entered into |
a contract to purchase the property has certified that it will |
use
the property for a project which is a new plant start-up or |
expansion or a new
venture opportunity and is not a relocation |
of an existing business from
another site within the State |
unless that relocation results in substantial
employment |
growth. If a municipality or county receives grants under this
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paragraph, it shall file a notice of lien against the owner or |
owners of such
demolished buildings to recover the costs and |
expenses incurred in the
demolition of such buildings pursuant |
to Section 11-31-1 of the Illinois
Municipal Code or Section |
5-1080 of the Counties Code. All such costs and
expenses |
recovered by the county or municipality shall be paid to the
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Department for deposit in the Build Illinois Purposes Account. |
Priority shall
be given to enterprise zones or those areas with |
high unemployment whose tax
base is adversely impacted by the |
closing of existing factories.
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(j-5) A business accepting a grant or loan under this |
Article shall provide the Department with quarterly reports |
detailing financial and performance information as requested |