|
| | HB2409 Engrossed | | LRB102 14477 HLH 19830 b |
|
|
| 1 | | AN ACT concerning revenue.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Economic Development for a Growing Economy |
| 5 | | Tax Credit Act is amended by changing Section 5-57 as follows:
|
| 6 | | (35 ILCS 10/5-57) |
| 7 | | Sec. 5-57. Supplier diversity goals; reports. Each |
| 8 | | taxpayer claiming a credit under this Act shall, no later than |
| 9 | | April 15 of each taxable year for which the taxpayer claims a |
| 10 | | credit under this Act, submit to the Department of Commerce |
| 11 | | and Economic Opportunity an annual report containing the |
| 12 | | information described in subsections (b), (c), (d), and (e) of |
| 13 | | Section 5-117 of the Public Utilities Act. Those reports shall |
| 14 | | be submitted in the form and manner required by the Department |
| 15 | | of Commerce and Economic Opportunity.
|
| 16 | | The Department shall not issue a tax certificate to any |
| 17 | | taxpayer under this Act unless the taxpayer first submits a |
| 18 | | supplier diversity report to the Department as required by |
| 19 | | this Act. Failure to file a supplier diversity report as |
| 20 | | required by this Act renders a taxpayer non-responsive to any |
| 21 | | Agreement with the Department and ineligible to receive a tax |
| 22 | | certificate or file a tax credit for that year. The Department |
| 23 | | shall publish on its website all supplier diversity reports |