96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1496


 
Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - Jack D. Franks
 
SYNOPSIS AS INTRODUCED:
 		













20 ILCS 715/10









    Amends the Corporate Accountability for Tax Expenditures Act.  Makes a
technical change in a Section concerning an annual budget.
















LRB096 05006 RCE 15072 b

















 


 


A BILL FOR









 











HB1496

LRB096 05006 RCE 15072 b






1
    AN ACT concerning State government.

 
2
    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 

 
4
    Section 5. The Corporate Accountability for Tax 
5
Expenditures Act is amended by changing Section 10 as follows:
 



6
    (20 ILCS 715/10)



7
    Sec. 10. Unified Economic Development Budget. 

8
    (a) For each State fiscal year ending on or after June 30, 
9
2005, the
the
Department of Revenue shall
submit an annual 
10
Unified Economic Development Budget to the General Assembly.

11
The
Unified Economic Development Budget shall be due within 3 
12
months after the end
of the fiscal
year, and shall present all 
13
types of development assistance granted during the
prior fiscal 
14
year,
including:

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        (1) The aggregate amount of uncollected or diverted 
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    State tax revenues
resulting
from each type of development 
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    assistance provided in the tax statutes, as
reported to the

18
    Department of Revenue on tax returns filed during the 
19
    fiscal year.


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        (2) All State development assistance.

21
    (b) All data contained in the Unified Economic Development 
22
Budget presented
to the
General Assembly shall be fully subject 
23
to the Freedom of Information Act.

 


 






HB1496
- 2 -
LRB096 05006 RCE 15072 b




1
    (c) The Department of Revenue shall submit a report of the 
2
amounts in
subdivision (a)(1)
of this Section to the 
3
Department, which may append such report to the Unified

4
Economic
Development Budget rather than separately reporting 
5
such amounts.

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(Source: P.A. 93-552, eff. 8-20-03.)