|
|
|
|
95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2727
Introduced 2/15/2008, by Sen. Emil Jones, Jr. SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Economic Development for a Growing Economy Tax Credit Act. Makes
a technical change in a Section concerning the amount of the
credit.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
SB2727 |
|
LRB095 06033 BDD 26125 b |
|
|
| 1 |
| AN ACT concerning economic development.
|
| 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 5-40 as follows:
|
| 6 |
| (35 ILCS 10/5-40)
|
| 7 |
| Sec. 5-40. Determination of Amount of the Credit. In |
| 8 |
| determining the
the
amount of the Credit that should be |
| 9 |
| awarded, the Committee shall provide
guidance on, and the
|
| 10 |
| Department shall take into consideration, the
following |
| 11 |
| factors:
|
| 12 |
| (1) The number and location of jobs created and |
| 13 |
| retained in relation to
the economy of the county where the |
| 14 |
| projected investment is to
occur.
|
| 15 |
| (2) The potential impact on the economy of Illinois.
|
| 16 |
| (3) The magnitude of the cost differential between |
| 17 |
| Illinois and the
competing state.
|
| 18 |
| (4) The incremental payroll attributable to the |
| 19 |
| project.
|
| 20 |
| (5) The capital investment attributable to the |
| 21 |
| project.
|
| 22 |
| (6) The amount of the average wage and benefits paid by |
| 23 |
| the Applicant in
relation to the wage and benefits of the |