Rep. Sue Scherer
Filed: 3/7/2018
 
 

 

 

 
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1
AMENDMENT TO HOUSE BILL 5349




2    AMENDMENT NO. ______. Amend House Bill 5349 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The Illinois Income Tax Act is amended  by 
5adding Section 246 as follows:
 
6    (35 ILCS 5/246 new)
7    Sec. 246. Impact of credits; report.
8    (a) The Department, with the assistance of the Department 
9of Commerce and Economic Opportunity, shall prepare a report 
10concerning the credits provided under subsections (e) and (k) 
11of Section 201. The report shall include, but not be limited 
12to, the following:
13        (1) the impact that each of those credits has on the 
14    following: 
15            (A) the creation and retention of jobs in the 
16        State; 
 
 
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1            (B) the overall health of the manufacturing sector 
2        in the State; and 
3            (C) higher education in the State; 
4        (2) a list of other states with credits that are 
5    substantially similar to the credits provided under 
6    subsections (e) and (k) of Section 201 and a statement of 
7    the benefits conferred by those credits in other states; 
8        (3) the history of the credits provided under 
9    subsections (e) and (k) of Section 201 in Illinois, 
10    including sunsets and reinstatements; 
11        (4) the total number of research and development jobs 
12    in Illinois as of the date of the report; 
13        (5) average wages for research and development jobs in 
14    Illinois; 
15        (6) an examination of Illinois exports related to 
16    research and development; 
17        (7) a list of significant industries using research and 
18    development; 
19        (8) new and improved products and processes resulting 
20    from research and development; 
21        (9) the number of patents filed by Illinois companies 
22    while the credit under subsection (k) of Section 201 has 
23    been in effect; and 
24        (10) a recommendation from the Department of Commerce 
25    and Economic Opportunity on whether the credits under 
26    subsections (e) and (k) of Section 201 should be extended, 
 
 
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1    repealed, or modified. 
2    The Department shall submit the report under this 
3subsection (a) to the Governor and the General Assembly on or 
4before December 1, 2019. 
5    (b) The Department, with the assistance of the Department 
6of Commerce and Economic Opportunity, shall examine each credit 
7against a tax imposed under Section 201 created, extended, or 
8reenacted on and after the effective date of this amendatory 
9Act of the 100th General Assembly, to determine the impact that 
10each credit has on the creation and retention of jobs, 
11including, but not limited to, any stated job creation goals. 
12The Department shall report its findings under this subsection 
13(b) to the Governor and the General Assembly on or before 3 
14years after the effective date of the credit in question, and 
15on or before every 3 years thereafter. 
  
 
16    Section 99. Effective date. This Act takes effect upon 
17becoming law.".