Sen. John J. Cullerton
Filed: 5/24/2017
 
 

 

 

 
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1
AMENDMENT TO HOUSE BILL 1125 




2    AMENDMENT NO. ______. Amend House Bill 1125 by replacing 
3everything after the enacting clause with the following:

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



6    (35 ILCS 10/5-40)



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

10Department shall take into consideration, the
following 
11factors:

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


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


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


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


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


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


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


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

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