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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5988
Introduced 2/10/2010, by Rep. Dan Reitz SYNOPSIS AS INTRODUCED:
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Amends the Economic Development for a Growing Economy Tax Credit Act. Makes
a technical change in a Section concerning the amount of the
credit.
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A BILL FOR
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HB5988 |
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LRB096 19377 HLH 34768 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Economic Development for a Growing Economy |
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| Tax Credit Act is amended by changing Section 5-40 as follows:
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| (35 ILCS 10/5-40)
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| Sec. 5-40. Determination of Amount of the Credit. In |
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| determining the
the
amount of the Credit that should be |
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| awarded, the Committee shall provide
guidance on, and the
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| Department shall take into consideration, the
following |
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| factors:
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| (1) The number and location of jobs created and |
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| retained in relation to
the economy of the county where the |
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| projected investment is to
occur.
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| (2) The potential impact on the economy of Illinois.
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| (3) The magnitude of the cost differential between |
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| Illinois and the
competing state.
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| (4) The incremental payroll attributable to the |
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| project.
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| (5) The capital investment attributable to the |
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| project.
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| (6) The amount of the average wage and benefits paid by |
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| the Applicant in
relation to the wage and benefits of the |