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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Corporate Accountability for Tax | ||||||
5 | Expenditures Act is amended by changing Section 20 as follows:
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6 | (20 ILCS 715/20)
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7 | Sec. 20. State development assistance disclosure.
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8 | (a) Beginning February 1, 2005 and each year thereafter, | ||||||
9 | every State
granting body shall submit to the Department copies | ||||||
10 | of all development
assistance agreements that it approved in | ||||||
11 | the prior calendar year.
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12 | (b) Each recipient of development assistance shall file an | ||||||
13 | annual consolidated For each development assistance agreement | ||||||
14 | for which the date of
assistance has occurred in the prior | ||||||
15 | calendar year, each recipient shall
submit to the Department a | ||||||
16 | progress report that shall include, but not be
limited to, the | ||||||
17 | following:
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18 | (1) The application tracking number of each | ||||||
19 | development agreement in which the recipient participated .
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20 | (2) The office mailing address, telephone number, and | ||||||
21 | the name of the
chief
officer of the granting body.
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22 | (3) The office mailing address, telephone number, | ||||||
23 | 4-digit SIC
number or successor number,
and the name of the |
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1 | chief officer of the applicant or authorized designee
for | ||||||
2 | the specific project site for which the
development
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3 | assistance was approved by the State granting body.
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4 | (4) The type of development assistance program and | ||||||
5 | value of assistance
that was approved by the State granting | ||||||
6 | body.
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7 | (5) The applicant's total number of employees at the | ||||||
8 | specific project
site on the
date that the application was | ||||||
9 | submitted to the State granting body and the
applicant's | ||||||
10 | total number of employees at the
specific
project site on | ||||||
11 | the date of the report, including the number of full-time,
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12 | permanent jobs, the number of
part-time jobs, and
the | ||||||
13 | number of temporary jobs, and a computation of the gain or | ||||||
14 | loss of jobs in
each category.
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15 | (6) The number of new employees and retained employees | ||||||
16 | the applicant
stated
in its development assistance | ||||||
17 | agreement, if any, if not, then in its
application, would | ||||||
18 | be created
by the development assistance broken down by | ||||||
19 | full-time, permanent, part-time,
and
temporary.
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20 | (7) A declaration of whether the recipient is
in | ||||||
21 | compliance with each of the development assistance | ||||||
22 | agreements in which the recipient participates agreement .
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23 | (8) A detailed list of the occupation or job | ||||||
24 | classifications and number
of new employees or
retained | ||||||
25 | employees to be hired in full-time, permanent jobs, a | ||||||
26 | schedule of
anticipated
starting dates of the new hires and |
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1 | the actual average wage by occupation or
job classification
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2 | and total payroll to be created as a result of the | ||||||
3 | development assistance.
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4 | (9) A narrative, if necessary, describing how the | ||||||
5 | recipient's use of the
development assistance during the | ||||||
6 | reporting year has reduced employment at
any site in | ||||||
7 | Illinois.
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8 | (10) A certification by the chief officer of the
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9 | applicant
or his or her authorized designee that the | ||||||
10 | information in the progress report
contains no
knowing | ||||||
11 | misrepresentation of material facts upon which eligibility | ||||||
12 | for
development
assistance is based.
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13 | (11) Any other information the Department shall deem | ||||||
14 | necessary to ensure compliance with a development | ||||||
15 | assistance program. | ||||||
16 | (c) The State granting body, or a successor agency,
shall | ||||||
17 | have full
authority to verify information contained in the | ||||||
18 | recipient's progress report,
including the authority to
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19 | inspect the specific project site and
inspect the records of | ||||||
20 | the recipient that are subject to the development
assistance | ||||||
21 | agreement.
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22 | (d) By June 1, 2005 and by June 1 of each year thereafter, | ||||||
23 | the
Department shall compile
and publish all data in all of the | ||||||
24 | progress reports in
both written and electronic form.
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25 | (e) If a recipient of development assistance fails to | ||||||
26 | comply with
subsection (b) of this Section, the Department |
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1 | shall, within 20 working days
after the
reporting submittal
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2 | deadlines set forth in (i) the legislation authorizing, (ii) | ||||||
3 | the
administrative rules implementing, or
(iii) specific | ||||||
4 | provisions in development assistance agreements pertaining to
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5 | the development assistance programs, suspend within 33 working | ||||||
6 | days any current
development
assistance to the
recipient under | ||||||
7 | its control, and shall be prohibited from completing any
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8 | current or providing any
future development assistance until it | ||||||
9 | receives proof that the recipient has
come into compliance
with | ||||||
10 | the requirements of subsection (b) of this Section.
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11 | (f) The Department shall have the discretion to modify the | ||||||
12 | information
required
in the progress report required under | ||||||
13 | subsection (b) consistent with the
disclosure purpose
of this | ||||||
14 | Section for any grants under the Industrial Training Program | ||||||
15 | that are
not given as
an incentive to a recipient business | ||||||
16 | organization.
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17 | (Source: P.A. 93-552, eff. 8-20-03.)
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18 | Section 10. The Build Illinois Act is amended by changing | ||||||
19 | Section 10-3 as follows:
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20 | (30 ILCS 750/10-3) (from Ch. 127, par. 2710-3)
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21 | Sec. 10-3. Powers and Duties. The Department has the power | ||||||
22 | to:
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23 | (a) Provide loans from the Build Illinois Bond Fund, the | ||||||
24 | Fund for Illinois' Future, or the Large Business
Attraction |
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1 | Fund to a business undertaking a project and accept mortgages | ||||||
2 | or
other evidences of indebtedness or security of such | ||||||
3 | business.
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4 | (b) Provide grants from the Build Illinois Bond Fund, the | ||||||
5 | Fund for Illinois' Future, or the Large Business
Attraction | ||||||
6 | Fund to or for the direct
benefit of a business undertaking a | ||||||
7 | project. Any such grant shall (i) be
made and used only for the | ||||||
8 | purpose of assisting the financing of the
business for the | ||||||
9 | project in order to reduce the cost of financing to the
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10 | business, (ii) be made only if a participating lender, or other | ||||||
11 | funding
source including the applicant, also provides a portion | ||||||
12 | of the financing
with respect to the project, and only if the | ||||||
13 | Department determines, on the
basis of all the information | ||||||
14 | available to it, that the project would not be
undertaken in | ||||||
15 | Illinois unless the grant is provided, (iii) provide no more
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16 | than 25% of the total dollar amount of any single project cost | ||||||
17 | and be
approved for amounts from the Fund not to exceed | ||||||
18 | $500,000 for any single
project, unless waived by the Director | ||||||
19 | upon a finding that such waiver is
appropriate to accomplish | ||||||
20 | the purpose of this Article, (iv) be made only
after the | ||||||
21 | Department has determined that the grant will cause a project | ||||||
22 | to
be undertaken which has the potential to create substantial | ||||||
23 | employment in
relation to the amount of the grant, and (v) be | ||||||
24 | made with a business that
has certified the project is a new | ||||||
25 | plant start-up or expansion and is not a
relocation of an | ||||||
26 | existing business from another site in Illinois unless
that |
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1 | relocation results in substantial employment growth.
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2 | (c) Enter into agreements, accept funds or grants and | ||||||
3 | cooperate with
agencies of the federal government, local units | ||||||
4 | of government and local
regional economic development | ||||||
5 | corporations or organizations for the purposes of
carrying out | ||||||
6 | this Article.
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7 | (d) Enter into contracts, letters of credit or any other | ||||||
8 | agreements or
contracts with financial institutions necessary | ||||||
9 | or desirable to carry out the
purposes of this Article. Any | ||||||
10 | such agreement or contract may include, without
limitation, | ||||||
11 | terms and provisions relating to a specific project such as | ||||||
12 | loan
documentation, review and approval procedures, | ||||||
13 | organization and servicing
rights, default conditions and | ||||||
14 | other program aspects.
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15 | (e) Fix, determine, charge and collect any premiums, fees, | ||||||
16 | charges, costs
and expenses, including application fees, | ||||||
17 | commitment fees, program fees,
financing charges or | ||||||
18 | publication fees in connection with its activities under
this | ||||||
19 | Article.
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20 | (f) Establish application, notification, contract and | ||||||
21 | other procedures,
rules or regulations deemed necessary and | ||||||
22 | appropriate.
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23 | (g) Subject to the provisions of any contract with another | ||||||
24 | person and
consent to the modification or restructuring of any | ||||||
25 | loan agreement to which the
Department is a party.
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26 | (h) Take any actions which are necessary or appropriate to |
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1 | protect the
State's interest in the event of bankruptcy, | ||||||
2 | default, foreclosure or
noncompliance with the terms and | ||||||
3 | conditions of financial assistance or
participation provided | ||||||
4 | under this Article, including the power to sell,
dispose, lease | ||||||
5 | or rent, upon terms and conditions determined by the Director | ||||||
6 | to
be appropriate, real or personal property which the | ||||||
7 | Department may receive as a
result thereof.
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8 | (i) Acquire and accept by gift, grant, purchase or | ||||||
9 | otherwise, but not by
condemnation, fee simple title, or such | ||||||
10 | lesser interest as may be desired, in
land, and to improve or | ||||||
11 | arrange for the improvement of such land for industrial
or | ||||||
12 | commercial site development purposes, and to lease or convey | ||||||
13 | such land, or
interest in land, so acquired and so improved, | ||||||
14 | including sale and conveyance
subject to a mortgage, for such | ||||||
15 | price, upon such terms and at such time as the
Department may | ||||||
16 | determine, provided that prior to exercising its authority | ||||||
17 | under
this subsection, the Director shall find that other means | ||||||
18 | of financing and
developing any such project are not reasonably | ||||||
19 | available and that such action
is consistent with the purposes | ||||||
20 | and policies of this Article.
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21 | (j) Provide grants from the Build Illinois Bond Fund to | ||||||
22 | municipalities and counties to demolish abandoned buildings
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23 | pursuant to Section 11-31-1 of the Illinois Municipal Code or | ||||||
24 | Section 5-1080 of
the Counties Code, for the purpose of making | ||||||
25 | unimproved land available for
purchase by businesses for | ||||||
26 | economic development. Such grants shall be provided
only when: |
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1 | (1) the owner of property on which the abandoned building is
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2 | situated has entered into a contract to sell such property; (2) | ||||||
3 | the Department
has determined that the grant will be used to | ||||||
4 | cause a project to be undertaken
which will result in the | ||||||
5 | creation of employment; (3) the business which has
entered into | ||||||
6 | a contract to purchase the property has certified that it will | ||||||
7 | use
the property for a project which is a new plant start-up or | ||||||
8 | expansion or a new
venture opportunity and is not a relocation | ||||||
9 | of an existing business from
another site within the State | ||||||
10 | unless that relocation results in substantial
employment | ||||||
11 | growth. If a municipality or county receives grants under this
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12 | paragraph, it shall file a notice of lien against the owner or | ||||||
13 | owners of such
demolished buildings to recover the costs and | ||||||
14 | expenses incurred in the
demolition of such buildings pursuant | ||||||
15 | to Section 11-31-1 of the Illinois
Municipal Code or Section | ||||||
16 | 5-1080 of the Counties Code. All such costs and
expenses | ||||||
17 | recovered by the county or municipality shall be paid to the
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18 | Department for deposit in the Build Illinois Purposes Account. | ||||||
19 | Priority shall
be given to enterprise zones or those areas with | ||||||
20 | high unemployment whose tax
base is adversely impacted by the | ||||||
21 | closing of existing factories.
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22 | (j-5) Establish by regulation, in lieu of quarterly | ||||||
23 | information returns, a notification procedure that provides | ||||||
24 | that any business accepting a grant or loan under this Article | ||||||
25 | must notify the Department within 30 days if at any time during | ||||||
26 | the period of the agreement the business fails to meet the |
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1 | agreed employment or investment conditions of the grant or | ||||||
2 | loan. | ||||||
3 | (k) Exercise such other powers as are necessary or | ||||||
4 | incidental to the
foregoing.
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5 | (Source: P.A. 94-91, eff. 7-1-05.)
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