Full Text of SB1578 96th General Assembly
SB1578enr 96TH GENERAL ASSEMBLY
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| AN ACT concerning business.
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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 1. Short title. This Act may be cited as the Small | 5 |
| Business Job Creation Tax Credit Act. | 6 |
| Section 5. Findings and purpose. The General Assembly finds | 7 |
| that the Illinois economy is mired in one of the worst economic | 8 |
| recessions it has ever suffered. Small businesses in particular | 9 |
| have been hit hard by the economy, resulting in levels of high | 10 |
| unemployment throughout the State. In order to reverse the | 11 |
| trend of high unemployment and to help spur the economy to | 12 |
| recovery, it is necessary to assist and encourage small | 13 |
| businesses in the hiring of new employees. | 14 |
| Section 10. Definitions. In this Act: | 15 |
| "Applicant" means a person that is operating a business | 16 |
| located within the State of Illinois that is engaged in | 17 |
| interstate or intrastate commerce and has no more than 50 | 18 |
| full-time employees, without regard to the location of | 19 |
| employment of such employees at the beginning of the incentive | 20 |
| period. In the case of any person that is a member of a unitary | 21 |
| business group within the meaning of subdivision (a)(27) of | 22 |
| Section 1501 of the Illinois Income Tax Act, "applicant" refers |
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| to the unitary business group. | 2 |
| "Certificate" means the tax credit certificate issued by | 3 |
| the Department under Section 35 of this Act. | 4 |
| "Certificate of eligibility" means the certificate issued | 5 |
| by the Department under Section 20 of this Act. | 6 |
| "Credit" means the amount awarded by the Department to an | 7 |
| applicant by issuance of a certificate under Section 35 of this | 8 |
| Act for each new full-time equivalent employee hired or job | 9 |
| created. | 10 |
| "Department" means the Department of Commerce and Economic | 11 |
| Opportunity. | 12 |
| "Director" means the Director of the Department. | 13 |
| "Full-time employee" means an individual who is employed | 14 |
| for a basic wage for at least 35 hours each week or who renders | 15 |
| any other standard of service generally accepted by industry | 16 |
| custom or practice as full-time employment. | 17 |
| "Incentive period" means the period beginning July 1, 2010 | 18 |
| and ending on June 30, 2011. | 19 |
| "Basic wage" means compensation for employment that is no | 20 |
| less than $13.75 per hour or the equivalent salary for a new | 21 |
| employee. | 22 |
| "New employee" means a full-time employee first employed by | 23 |
| an applicant within the incentive period whose hire results in | 24 |
| a net increase in the applicant's full-time Illinois employees | 25 |
| and who is receiving a basic wage as compensation. The term | 26 |
| "new employee" does not include: |
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| (1) a person who was previously employed in Illinois by | 2 |
| the applicant or a related member prior to the onset of the | 3 |
| incentive period; or | 4 |
| (2) any individual who has a direct or indirect | 5 |
| ownership interest of at least 5% in the profits, capital, | 6 |
| or value of the applicant or a related member. | 7 |
| "Noncompliance date" means, in the case of an applicant | 8 |
| that is not complying with the requirements of the provisions | 9 |
| of this Act, the day following the last date upon which the | 10 |
| taxpayer was in compliance with the requirements of the | 11 |
| provisions of this Act, as determined by the Director, pursuant | 12 |
| to Section 45 of this Act. | 13 |
| "Related member" means a person that, with respect to the | 14 |
| applicant during any portion of the incentive period, is any | 15 |
| one of the following, | 16 |
| (1) An individual, if the individual and the members of | 17 |
| the individual's family (as defined in Section 318 of the | 18 |
| Internal Revenue Code) own directly, indirectly, | 19 |
| beneficially, or constructively, in the aggregate, at | 20 |
| least 50% of the value of the outstanding profits, capital, | 21 |
| stock, or other ownership interest in the applicant. | 22 |
| (2) A partnership, estate, or trust and any partner or | 23 |
| beneficiary, if the partnership, estate, or trust and its | 24 |
| partners or beneficiaries own directly, indirectly, | 25 |
| beneficially, or constructively, in the aggregate, at | 26 |
| least 50% of the profits, capital, stock, or other |
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| ownership interest in the applicant. | 2 |
| (3) A corporation, and any party related to the | 3 |
| corporation in a manner that would require an attribution | 4 |
| of stock from the corporation under the attribution rules | 5 |
| of Section 318 of the Internal Revenue Code, if the | 6 |
| applicant and any other related member own, in the | 7 |
| aggregate, directly, indirectly, beneficially, or | 8 |
| constructively, at least 50% of the value of the | 9 |
| corporation's outstanding stock. | 10 |
| (4) A corporation and any party related to that | 11 |
| corporation in a manner that would require an attribution | 12 |
| of stock from the corporation to the party or from the | 13 |
| party to the corporation under the attribution rules of | 14 |
| Section 318 of the Internal Revenue Code, if the | 15 |
| corporation and all such related parties own, in the | 16 |
| aggregate, at least 50% of the profits, capital, stock, or | 17 |
| other ownership interest in the applicant. | 18 |
| (5) A person to or from whom there is attribution of | 19 |
| stock ownership in accordance with Section 1563(e) of the | 20 |
| Internal Revenue Code, except that for purposes of | 21 |
| determining whether a person is a related member under this | 22 |
| paragraph, "20%" shall be substituted for "5%" whenever | 23 |
| "5%" appears in Section 1563(e) of the Internal Revenue | 24 |
| Code. | 25 |
| Section 15. Powers of the Department. The Department, in |
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| addition to those powers granted under the Civil Administrative | 2 |
| Code of Illinois, is granted and shall have all the powers | 3 |
| necessary or convenient to carry out and effectuate the | 4 |
| purposes and provisions of this Act, including, but not limited | 5 |
| to, power and authority to: | 6 |
| (1) Promulgate procedures, rules, or regulations | 7 |
| deemed necessary and appropriate for the administration of | 8 |
| this Act; establish forms for applications, notifications, | 9 |
| contracts, or any other agreements; and accept | 10 |
| applications at any time during the year and require that | 11 |
| all applications be submitted via the Internet. The | 12 |
| Department shall require that applications be submitted in | 13 |
| electronic form. | 14 |
| (2) Provide guidance and assistance to applicants | 15 |
| pursuant to the provisions of this Act, and cooperate with | 16 |
| applicants to promote, foster, and support job creation | 17 |
| within the State. | 18 |
| (3) Enter into agreements and memoranda of | 19 |
| understanding for participation of and engage in | 20 |
| cooperation with agencies of the federal government, units | 21 |
| of local government, universities, research foundations or | 22 |
| institutions, regional economic development corporations, | 23 |
| or other organizations for the purposes of this Act. | 24 |
| (4) Gather information and conduct inquiries, in the | 25 |
| manner and by the methods it deems desirable, including, | 26 |
| without limitation, gathering information with respect to |
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| applicants for the purpose of making any designations or | 2 |
| certifications necessary or desirable or to gather | 3 |
| information in furtherance of the purposes of this Act. | 4 |
| (5) Establish, negotiate, and effectuate any term, | 5 |
| agreement, or other document with any person necessary or | 6 |
| appropriate to accomplish the purposes of this Act; and | 7 |
| consent, subject to the provisions of any agreement with | 8 |
| another party, to the modification or restructuring of any | 9 |
| agreement to which the Department is a party. | 10 |
| (6) Provide for sufficient personnel to permit | 11 |
| administration, staffing, operation, and related support | 12 |
| required to adequately discharge its duties and | 13 |
| responsibilities described in this Act from funds made | 14 |
| available through charges to applicants or from funds as | 15 |
| may be appropriated by the General Assembly for the | 16 |
| administration of this Act. | 17 |
| (7) Require applicants, upon written request, to issue | 18 |
| any necessary authorization to the appropriate federal, | 19 |
| State, or local authority or any other person for the | 20 |
| release to the Department of information requested by the | 21 |
| Department, with the information requested to include, but | 22 |
| not be limited to, financial reports, returns, or records | 23 |
| relating to the applicant or to the amount of credit | 24 |
| allowable under this Act. | 25 |
| (8) Require that an applicant shall at all times keep | 26 |
| proper books of record and account in accordance with |
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| generally accepted accounting principles consistently | 2 |
| applied, with the books, records, or papers related to the | 3 |
| agreement in the custody or control of the applicant open | 4 |
| for reasonable Department inspection and audits, and | 5 |
| including, without limitation, the making of copies of the | 6 |
| books, records, or papers. | 7 |
| (9) Take whatever actions are necessary or appropriate | 8 |
| to protect the State's interest in the event of bankruptcy, | 9 |
| default, foreclosure, or noncompliance with the terms and | 10 |
| conditions of financial assistance or participation | 11 |
| required under this Act, including the power to sell, | 12 |
| dispose of, lease, or rent, upon terms and conditions | 13 |
| determined by the Director to be appropriate, real or | 14 |
| personal property that the Department may recover as a | 15 |
| result of these actions. | 16 |
| Section 20. Certificate of eligibility for tax credit. | 17 |
| (a) An applicant that has hired a new employee during the | 18 |
| incentive period may apply for a certificate of eligibility for | 19 |
| the credit with respect to that position on or after the date | 20 |
| of hire of the new employee. The date of hire shall be the | 21 |
| first day on which the employee begins providing services for | 22 |
| basic wage compensation. | 23 |
| (b) An applicant may apply for a certificate of eligibility | 24 |
| for the credit for more than one new employee on or after the | 25 |
| date of hire of each qualifying new employee. |
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| (c) After receipt of an application under this Section, the | 2 |
| Department shall issue a certificate of eligibility to the | 3 |
| applicant, stating: | 4 |
| (1) The date and time on which the application was | 5 |
| received by the Department and an identifying number | 6 |
| assigned to the applicant by the Department. | 7 |
| (2) The maximum amount of the credit the applicant | 8 |
| could potentially receive under this Act with respect to | 9 |
| the new employees listed on the application. | 10 |
| (3) The maximum amount of the credit potentially | 11 |
| allowable on certificates of eligibility issued for | 12 |
| applications received prior to the application for which | 13 |
| the certificate of eligibility is issued. | 14 |
| Section 25. Tax credit. | 15 |
| (a) Subject to the conditions set forth in this Act, an | 16 |
| applicant is entitled to a credit against payment of taxes | 17 |
| withheld under Section 704A of the Illinois Income Tax Act for | 18 |
| calendar years ending on or after the date that is 12 months | 19 |
| after the date of hire of a new employee. The credit shall be | 20 |
| allowed as a credit to an applicant for each full-time employee | 21 |
| hired during the incentive period that results in a net | 22 |
| increase in full-time Illinois employees, where the net | 23 |
| increase in the employer's full-time Illinois employees is | 24 |
| maintained for at least 12 months. | 25 |
| (b) The Department shall make credit awards under this Act |
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| to further job creation. | 2 |
| (c) The credit shall be claimed for the first calendar year | 3 |
| ending on or after the date on which the certificate is issued | 4 |
| by the Department. | 5 |
| (d) The credit shall not exceed $2,500 per new employee | 6 |
| hired. | 7 |
| (e) The net increase in full-time Illinois employees, | 8 |
| measured on an annual full-time equivalent basis, shall be the | 9 |
| total number of full-time Illinois employees of the applicant | 10 |
| on June 30, 2011, minus the number of full-time Illinois | 11 |
| employees employed by the employer on July 1, 2010. For | 12 |
| purposes of the calculation, an employer that begins doing | 13 |
| business in this State during the incentive period, as | 14 |
| determined by the Director, shall be treated as having zero | 15 |
| Illinois employees on July 1, 2010. | 16 |
| (f) The net increase in the number of full-time Illinois | 17 |
| employees of the applicant must be sustained continuously for | 18 |
| at least 12 months, starting with the date of hire of a new | 19 |
| employee during the incentive period. Eligibility for the | 20 |
| credit does not depend on the continuous employment of any | 21 |
| particular individual. For purposes of this subsection (f), if | 22 |
| a new employee ceases to be employed before the completion of | 23 |
| the 12-month period for any reason, the net increase in the | 24 |
| number of full-time Illinois employees shall be treated as | 25 |
| continuous if a different new employee is hired as a | 26 |
| replacement within a reasonable time for the same position. |
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| Section 30. Maximum amount of credits allowed. The | 2 |
| Department shall limit the monetary amount of credits awarded | 3 |
| under this Act to no more than $50,000,000. If applications for | 4 |
| a greater amount are received, credits shall be allowed on a | 5 |
| first-come-first-served basis, based on the date on which each | 6 |
| properly completed application for a certificate of | 7 |
| eligibility is received by the Department. If more than one | 8 |
| certificate of eligibility is received on the same day, the | 9 |
| credits will be awarded based on the time of submission for | 10 |
| that particular day. | 11 |
| Section 35. Application for award of tax credit; tax credit | 12 |
| certificate. | 13 |
| (a) On or after the conclusion of the 12-month period after | 14 |
| a new employee has been hired, an applicant shall file with the | 15 |
| Department an application for award of a credit. The | 16 |
| application shall include the following: | 17 |
| (1) The names, Social Security numbers, job | 18 |
| descriptions, salary or wage rates, and dates of hire of | 19 |
| the new employees with respect to whom the credit is being | 20 |
| requested. | 21 |
| (2) A certification that each new employee listed has | 22 |
| been retained on the job for one year from the date of | 23 |
| hire. | 24 |
| (3) The number of new employees hired by the applicant |
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| during the incentive period. | 2 |
| (4) The net increase in the number of full-time | 3 |
| Illinois employees of the applicant (including the new | 4 |
| employees listed in the request) between the beginning of | 5 |
| the incentive period and the dates on which the new | 6 |
| employees listed in the request were hired. | 7 |
| (5) An agreement that the Director is authorized to | 8 |
| verify with the appropriate State agencies the information | 9 |
| contained in the request before issuing a certificate to | 10 |
| the applicant. | 11 |
| (6) Any other information the Department determines to | 12 |
| be appropriate. | 13 |
| (b) Although an application may be filed at any time after | 14 |
| the conclusion of the 12-month period after a new employee was | 15 |
| hired, an application filed more than 90 days after the | 16 |
| earliest date on which it could have been filed shall not be | 17 |
| awarded any credit if, prior to the date it is filed, the | 18 |
| Department has received applications under this Section for | 19 |
| credits totaling more than $50,000,000. | 20 |
| (c) The Department shall issue a certificate to each | 21 |
| applicant awarded a credit under this Act. The certificate | 22 |
| shall include the following: | 23 |
| (1) The name and taxpayer identification number of the | 24 |
| applicant. | 25 |
| (2) The date on which the certificate is issued. | 26 |
| (3) The credit amount that will be allowed. |
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| (4) Any other information the Department determines to | 2 |
| be appropriate. | 3 |
| Section 40. Submission of tax credit certificate to | 4 |
| Department of Revenue. An applicant claiming a credit under | 5 |
| this Act shall submit to the Department of Revenue a copy of | 6 |
| each certificate issued under Section 35 of this Act with the | 7 |
| first return for which the credit shown on the certificate is | 8 |
| claimed. However, failure to submit a copy of the certificate | 9 |
| with the applicant's return shall not invalidate a claim for a | 10 |
| credit. | 11 |
| Section 45. Noncompliance with Act. If the Director | 12 |
| determines that an applicant who has received a credit under | 13 |
| this Act is not complying with the requirements of the | 14 |
| provisions of this Act, the Director shall provide notice to | 15 |
| the applicant of the alleged noncompliance, and allow the | 16 |
| taxpayer a hearing under the provisions of the Illinois | 17 |
| Administrative Procedure Act. If, after such notice and any | 18 |
| hearing, the Director determines that a noncompliance exists, | 19 |
| the Director shall issue to the Department of Revenue notice to | 20 |
| that effect, stating the noncompliance date. | 21 |
| Section 50. Rules. The Department may adopt rules necessary | 22 |
| to implement this Act. The rules may provide for recipients of | 23 |
| credits under this Act to be charged fees to cover |
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| administrative costs of the tax credit program. | 2 |
| Section 90. The Illinois Income Tax Act is amended by | 3 |
| changing Section 704A as follows: | 4 |
| (35 ILCS 5/704A) | 5 |
| Sec. 704A. Employer's return and payment of tax withheld. | 6 |
| (a) In general, every employer who deducts and withholds or | 7 |
| is required to deduct and withhold tax under this Act on or | 8 |
| after January 1, 2008 shall make those payments and returns as | 9 |
| provided in this Section. | 10 |
| (b) Returns. Every employer shall, in the form and manner | 11 |
| required by the Department, make returns with respect to taxes | 12 |
| withheld or required to be withheld under this Article 7 for | 13 |
| each quarter beginning on or after January 1, 2008, on or | 14 |
| before the last day of the first month following the close of | 15 |
| that quarter. | 16 |
| (c) Payments. With respect to amounts withheld or required | 17 |
| to be withheld on or after January 1, 2008: | 18 |
| (1) Semi-weekly payments. For each calendar year, each | 19 |
| employer who withheld or was required to withhold more than | 20 |
| $12,000 during the one-year period ending on June 30 of the | 21 |
| immediately preceding calendar year, payment must be made: | 22 |
| (A) on or before each Friday of the calendar year, | 23 |
| for taxes withheld or required to be withheld on the | 24 |
| immediately preceding Saturday, Sunday, Monday, or |
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| Tuesday; | 2 |
| (B) on or before each Wednesday of the calendar | 3 |
| year, for taxes withheld or required to be withheld on | 4 |
| the immediately preceding Wednesday, Thursday, or | 5 |
| Friday. | 6 |
| (2) Semi-weekly payments. Any employer who withholds | 7 |
| or is required to withhold more than $12,000 in any quarter | 8 |
| of a calendar year is required to make payments on the | 9 |
| dates set forth under item (1) of this subsection (c) for | 10 |
| each remaining quarter of that calendar year and for the | 11 |
| subsequent calendar year.
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| (3) Monthly payments. Each employer, other than an | 13 |
| employer described in items (1) or (2) of this subsection, | 14 |
| shall pay to the Department, on or before the 15th day of | 15 |
| each month the taxes withheld or required to be withheld | 16 |
| during the immediately preceding month. | 17 |
| (4) Payments with returns. Each employer shall pay to | 18 |
| the Department, on or before the due date for each return | 19 |
| required to be filed under this Section, any tax withheld | 20 |
| or required to be withheld during the period for which the | 21 |
| return is due and not previously paid to the Department. | 22 |
| (d) Regulatory authority. The Department may, by rule: | 23 |
| (1) If the aggregate amounts required to be withheld | 24 |
| under this Article 7 do not exceed $1,000 for the calendar | 25 |
| year, permit employers, in lieu of the requirements of | 26 |
| subsections (b) and (c), to file annual returns due on or |
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| before January 31 of the following year for taxes withheld | 2 |
| or required to be withheld during that calendar year and to | 3 |
| pay the taxes required to be shown on each such return no | 4 |
| later than the due date for such return. | 5 |
| (2) Provide that any payment required to be made under | 6 |
| subsection (c)(1) or (c)(2) is deemed to be timely to the | 7 |
| extent paid by electronic funds transfer on or before the | 8 |
| due date for deposit of federal income taxes withheld from, | 9 |
| or federal employment taxes due with respect to, the wages | 10 |
| from which the Illinois taxes were withheld. | 11 |
| (3) Designate one or more depositories to which payment | 12 |
| of taxes required to be withheld under this Article 7 must | 13 |
| be paid by some or all employers. | 14 |
| (4) Increase the threshold dollar amounts at which | 15 |
| employers are required to make semi-weekly payments under | 16 |
| subsection (c)(1) or (c)(2). | 17 |
| (e) Annual return and payment. Every employer who deducts | 18 |
| and withholds or is required to deduct and withhold tax from a | 19 |
| person engaged in domestic service employment, as that term is | 20 |
| defined in Section 3510 of the Internal Revenue Code, may | 21 |
| comply with the requirements of this Section with respect to | 22 |
| such employees by filing an annual return and paying the taxes | 23 |
| required to be deducted and withheld on or before the 15th day | 24 |
| of the fourth month following the close of the employer's | 25 |
| taxable year. The Department may allow the employer's return to | 26 |
| be submitted with the employer's individual income tax return |
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| or to be submitted with a return due from the employer under | 2 |
| Section 1400.2 of the Unemployment Insurance Act. | 3 |
| (f) Magnetic media and electronic filing. Any W-2 Form | 4 |
| that, under the Internal Revenue Code and regulations | 5 |
| promulgated thereunder, is required to be submitted to the | 6 |
| Internal Revenue Service on magnetic media or electronically | 7 |
| must also be submitted to the Department on magnetic media or | 8 |
| electronically for Illinois purposes, if required by the | 9 |
| Department. | 10 |
| (g) For amounts deducted or withheld after December 31, | 11 |
| 2009, a taxpayer who makes an election under Section 5-15(f) of | 12 |
| the Economic Development for a Growing Economy Act for a | 13 |
| taxable year shall be allowed a credit against payments due | 14 |
| under this Section for amounts withheld during the first | 15 |
| calendar year beginning after the end of that taxable year | 16 |
| equal to the amount of the credit awarded to the taxpayer by | 17 |
| the Department of Commerce and Economic Opportunity under the | 18 |
| Economic Development for a Growing Economy Act for the taxable | 19 |
| year. The credit may not reduce the taxpayer's obligation for | 20 |
| any payment due under this Section to less than zero. If the | 21 |
| amount of the credit exceeds the total payments due under this | 22 |
| Section with respect to amounts withheld during the calendar | 23 |
| year, the excess may be carried forward and applied against the | 24 |
| taxpayer's liability under this Section in the 5 succeeding | 25 |
| calendar years. The credit shall be applied to the earliest | 26 |
| year for which there is a tax liability. If there are credits |
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| from more than one taxable year that are available to offset a | 2 |
| liability, the earlier credit shall be applied first. This | 3 |
| Section is exempt from the provisions of Section 250 of this | 4 |
| Act. | 5 |
| (h) An employer may claim a credit against payments due | 6 |
| under this Section for amounts withheld during the first | 7 |
| calendar year ending after date on which a tax credit | 8 |
| certificate was issued under Section 35 of the Small Business | 9 |
| Job Creation Tax Credit Act. The credit shall be equal to the | 10 |
| amount shown on the certificate, but may not reduce the | 11 |
| taxpayer's obligation for any payment due under this Section to | 12 |
| less than zero. If the amount of the credit exceeds the total | 13 |
| payments due under this Section with respect to amounts | 14 |
| withheld during the calendar year, the excess may be carried | 15 |
| forward and applied against the taxpayer's liability under this | 16 |
| Section in the 5 succeeding calendar years. The credit shall be | 17 |
| applied to the earliest year for which there is a tax | 18 |
| liability. If there are credits from more than one calendar | 19 |
| year that are available to offset a liability, the earlier | 20 |
| credit shall be applied first. This Section is exempt from the | 21 |
| provisions of Section 250 of this Act. | 22 |
| (Source: P.A. 95-8, eff. 6-29-07; 95-707, eff. 1-11-08; 96-834, | 23 |
| eff. 12-14-09.)
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| Section 999. Effective date. This Act takes effect upon | 25 |
| becoming law. |
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