Illinois General Assembly - Full Text of HB2547
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Full Text of HB2547  102nd General Assembly




State of Illinois
2021 and 2022


Introduced 2/19/2021, by Rep. Andrew S. Chesney


35 ILCS 10/5-25

    Amends the Economic Development for a Growing Economy Tax Credit Act. Removes provisions concerning conditions that the Business Investment Committee shall determine exist in order for the Committee to make its recommendation that an Applicant's application for Credit should or should not be accepted. Effective immediately.

LRB102 11005 HLH 16337 b






HB2547LRB102 11005 HLH 16337 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Economic Development for a Growing Economy
5Tax Credit Act is amended by changing Section 5-25 as follows:
6    (35 ILCS 10/5-25)
7    Sec. 5-25. Review of Application.
8    (a) In addition to those duties granted under the Illinois
9Economic Development Board Act, the Illinois Economic
10Development Board shall form a Business Investment Committee
11for the purpose of making recommendations for applications. At
12the request of the Board, the Director of Commerce and
13Economic Opportunity or his or her designee, the Director of
14the Governor's Office of Management and Budget or his or her
15designee, the Director of Revenue or his or her designee, the
16Director of Employment Security or his or her designee, and an
17elected official of the affected locality, such as the chair
18of the county board or the mayor, may serve as members of the
19Committee to assist with its analysis and deliberations.
20    (b) At the Department's request, the Committee shall
21convene, make inquiries, and conduct studies in the manner and
22by the methods as it deems desirable, review information with
23respect to Applicants, and make recommendations for projects



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1to benefit the State. In making its recommendation that an
2Applicant's application for Credit should or should not be
3accepted, which shall occur within a reasonable time frame as
4determined by the nature of the application, the Committee
5shall determine that all the following conditions exist:
6        (1) The Applicant's project intends, as required by
7    subsection (b) of Section 5-20 to make the required
8    investment in the State and intends to hire the required
9    number of New Employees to work at a project location in
10    Illinois as a result of that project.
11        (2) The Applicant's project is economically sound and
12    will benefit the people of the State of Illinois by
13    increasing opportunities for employment and strengthen the
14    economy of Illinois.
15        (3) (Blank). That, if not for the Credit, the project
16    would not occur in Illinois, which may be demonstrated by
17    evidence that receipt of the Credit is essential to the
18    Applicant's decision to create new jobs in the State, such
19    as the magnitude of the cost differential between Illinois
20    and a competing State; in addition, if the Applicant is
21    seeking an increase in the maximum amount of the Credit
22    for retained employees, the Applicant must provide
23    evidence the Applicant has multi-state location options
24    and could reasonably and efficiently locate outside of the
25    State or demonstrate that at least one other state is
26    being considered for the project.



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1        (4) (Blank). A cost differential is identified, using
2    best available data, in the projected costs for the
3    Applicant's project compared to the costs in the competing
4    state, including the impact of the competing state's
5    incentive programs. The competing state's incentive
6    programs shall include state, local, private, and federal
7    funds available.
8        (5) The political subdivisions affected by the project
9    have committed local incentives with respect to the
10    project, considering local ability to assist.
11        (6) Awarding the Credit will result in an overall
12    positive fiscal impact to the State, as certified by the
13    Committee using the best available data.
14        (7) The Credit is not prohibited by Section 5-35 of
15    this Act.
16(Source: P.A. 100-511, eff. 9-18-17.)
17    Section 99. Effective date. This Act takes effect upon
18becoming law.