Rep. Jack D. Franks
Filed: 3/5/2012
 
 

 

 

 
09700HB3934ham003LRB097 15154 HLH 67154 a



1
AMENDMENT TO HOUSE BILL 3934 




2    AMENDMENT NO. ______. Amend House Bill 3934, AS AMENDED, by 
3replacing everything after the enacting clause with the 
4following:

 
5    "Section 5. The Economic Development for a Growing Economy 
6Tax Credit Act is amended by changing Section 5-40 as follows:
 



7    (35 ILCS 10/5-40)



8    Sec. 5-40. Determination of Amount of the Credit. In 
9determining the
the
amount of the Credit that should be 
10awarded, the Committee shall provide
guidance on, and the

11Department shall take into consideration, the
following 
12factors:

13        (1) The number and location of jobs created and 
14    retained in relation to
the economy of the county where the 
15    projected investment is to
occur.


16        (2) The potential impact on the economy of Illinois.


 
 
09700HB3934ham003- 2 -LRB097 15154 HLH 67154 a

1        (3) The magnitude of the cost differential between 
2    Illinois and the
competing state.


3        (4) The incremental payroll attributable to the 
4    project.


5        (5) The capital investment attributable to the 
6    project.


7        (6) The amount of the average wage and benefits paid by 
8    the Applicant in
relation to the wage and benefits of the 
9    area of the project.


10        (7) The costs to Illinois and the affected political 
11    subdivisions
with respect to the project.


12        (8) The financial assistance that is otherwise 
13    provided by Illinois
and the affected political 
14    subdivisions.

15(Source: P.A. 91-476, eff. 8-11-99.)".