Rep. Michael J. Zalewski

Filed: 2/22/2012

 

 


 

 


 
09700HB5014ham001LRB097 19859 HLH 65681 a

1
AMENDMENT TO HOUSE BILL 5014

2    AMENDMENT NO. ______. Amend House Bill 5014 on page 1, line
35, by replacing "Section 1i" with "Sections 1f and 1i"; and
 
4on page 1, immediately below line 5, by inserting the
5following:
 
6    "(35 ILCS 120/1f)  (from Ch. 120, par. 440f)
7    Sec. 1f. Except for High Impact Businesses, the exemption
8stated in Sections 1d and 1e of this Act shall only apply to
9business enterprises which:
10        (1) either (i) make investments which cause the
11    creation of a minimum of 200 full-time equivalent jobs in
12    Illinois or (ii) make investments which cause the retention
13    of a minimum of 2000 full-time jobs in Illinois or (iii)
14    make investments of a minimum of $40,000,000 and retain at
15    least 90% of the jobs in place on the date on which the
16    exemption is granted and for the duration of the exemption;

 

 

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1    and
2        (2) are located in an Enterprise Zone established
3    pursuant to the Illinois Enterprise Zone Act; and
4        (3) are certified by the Department of Commerce and
5    Economic Opportunity as complying with the requirements
6    specified in clauses (1), (2) and (3).
7    Any business enterprise seeking to avail itself of the
8exemptions stated in Sections 1d or 1e, or both, shall make
9application to the Department of Commerce and Economic
10Opportunity in such form and providing such information as may
11be prescribed by the Department of Commerce and Economic
12Opportunity. However, no business enterprise shall be
13required, as a condition for certification under clause (4) of
14this Section, to attest that its decision to invest under
15clause (1) of this Section and to locate under clause (2) of
16this Section is predicated upon the availability of the
17exemptions authorized by Sections 1d or 1e.
18    The Department of Commerce and Economic Opportunity shall
19determine whether the business enterprise meets the criteria
20prescribed in this Section. If the Department of Commerce and
21Economic Opportunity determines that such business enterprise
22meets the criteria, it shall issue a certificate of eligibility
23for exemption to the business enterprise in such form as is
24prescribed by the Department of Revenue. The Department of
25Commerce and Economic Opportunity shall act upon such
26certification requests within 60 days after receipt of the

 

 

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1application, and shall file with the Department of Revenue a
2copy of each certificate of eligibility for exemption.
3    The Department of Commerce and Economic Opportunity shall
4have the power to promulgate rules and regulations to carry out
5the provisions of this Section including the power to define
6the amounts and types of eligible investments not specified in
7this Section which business enterprises must make in order to
8receive the exemptions stated in Sections 1d and 1e of this
9Act; and to require that any business enterprise that is
10granted a tax exemption repay the exempted tax if the business
11enterprise fails to comply with the terms and conditions of the
12certification.
13    Such certificate of eligibility for exemption shall be
14presented by the business enterprise to its supplier when
15making the initial purchase of tangible personal property for
16which an exemption is granted by Section 1d or Section 1e, or
17both, together with a certification by the business enterprise
18that such tangible personal property is exempt from taxation
19under Section 1d or Section 1e and by indicating the exempt
20status of each subsequent purchase on the face of the purchase
21order.
22    The Department of Commerce and Economic Opportunity shall
23determine the period during which such exemption from the taxes
24imposed under this Act is in effect which shall not exceed 20
25years, except for a business certified by the Department as a
26High Impact Service Facility, in which case the exemption shall

 

 

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1not exceed 25 years.
2(Source: P.A. 94-793, eff. 5-19-06.)".