Full Text of SB3284 100th General Assembly
SB3284sam001 100TH GENERAL ASSEMBLY | Sen. Elgie R. Sims, Jr. Filed: 4/5/2018
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| 1 | | AMENDMENT TO SENATE BILL 3284
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3284 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 1. Short title. This Act may be cited as the | 5 | | Community Renewal and Revitalization Act. | 6 | | Section 5. Intent. The intent of this Act is to spur | 7 | | investment in areas of high unemployment and high crime through | 8 | | various economic development tools intended to incentivize | 9 | | businesses to relocate, expand, and develop within those | 10 | | communities. It is the hope and belief of the General Assembly | 11 | | that through the creation of Health, Opportunity, Prosperity, | 12 | | and Empowerment (HOPE) Zones, economic growth and vitality can | 13 | | foster in impoverished communities of this State. | 14 | | Section 10. Definitions.
As used in this Act:
| 15 | | "Department" means the Department of Commerce and Economic |
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| 1 | | Opportunity.
| 2 | | "Director" means the Director of Commerce and Economic | 3 | | Opportunity.
| 4 | | "HOPE Zone" or "Zone" means a Health, Opportunity, | 5 | | Prosperity, and Empowerment Zone established under this Act. | 6 | | Section 15. Qualifications for HOPE Zones.
| 7 | | (a) An area is qualified to become a HOPE Zone if:
| 8 | | (1) it is a contiguous area, provided that a zone area
| 9 | | may exclude wholly surrounded territory within its | 10 | | boundaries;
| 11 | | (2) it is comprised of a minimum of one-half square | 12 | | mile and
not more than 15 square miles, in total area, | 13 | | exclusive of lakes and waterways;
| 14 | | (3) it is entirely within a municipality or entirely | 15 | | within the unincorporated areas of a county, except where | 16 | | reasonable need is established for such zone to cover | 17 | | portions of more than one municipality or county;
| 18 | | (4) all or part of the area to be designated as a HOPE | 19 | | Zone has had an annual average unemployment rate of at | 20 | | least 120% of the State's annual average unemployment rate | 21 | | for the most recent calendar year or the most recent fiscal | 22 | | year as reported by the Department of Employment Security; | 23 | | and
| 24 | | (5) all or part of the area to be designated as a HOPE | 25 | | Zone has a poverty rate of at least 20% according to the |
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| 1 | | latest federal decennial census, and a census tract crime | 2 | | rate higher than the State average.
| 3 | | (b) Any criteria established by the Department or by law | 4 | | which utilizes the rate of unemployment for a particular area | 5 | | shall provide that all persons who are not presently employed | 6 | | and have exhausted all unemployment benefits shall be | 7 | | considered unemployed, whether or not such persons are actively | 8 | | seeking employment.
| 9 | | Section 20. Designation of HOPE Zones.
| 10 | | (a) Any area determined by the Director of the Department | 11 | | of Commerce and Economic Opportunity as meeting the | 12 | | qualifications established under Section 15 shall be | 13 | | designated a HOPE Zone, and be eligible for benefits under this | 14 | | Act.
| 15 | | (b) Upon designation of a HOPE Zone, the Director shall | 16 | | provide:
| 17 | | (1) a precise description of the area comprising the | 18 | | Zone, either in the form of a legal description or by | 19 | | reference to roadways, lakes and waterways, and township | 20 | | and county boundaries;
| 21 | | (2) a finding that the Zone area meets the | 22 | | qualifications established under Section 10;
| 23 | | (3) provisions for any tax incentives or reimbursement | 24 | | for taxes, which under State and federal law apply to | 25 | | businesses within the designated Zone;
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| 1 | | (4) the duration or term of the HOPE Zone, which shall | 2 | | be no less than 10 years in duration; and
| 3 | | (5) any other information the Director deems necessary | 4 | | to the establishment of HOPE Zones under this Act.
| 5 | | (c) Nothing in this Section shall prohibit a municipality | 6 | | or county from extending additional tax incentives or | 7 | | reimbursement for businesses in HOPE Zones or throughout their | 8 | | territory by separate ordinance. Nothing in this Section shall | 9 | | prohibit a municipality or county from applying to be an | 10 | | Enterprise Zone under the Illinois Enterprise Zone Act.
| 11 | | Section 25. HOPE Zone tax credits.
The following credits | 12 | | shall be granted in connection with HOPE Zones under this Act: | 13 | | (1) a business maintaining operations within a HOPE | 14 | | Zone is eligible to receive a 50% tax credit against (i) | 15 | | its annual corporate income tax as provided in Section 227 | 16 | | of the Illinois Income Tax Act and (ii) all fees and | 17 | | franchise taxes paid to the Secretary of State for | 18 | | organizing and maintaining any business organization | 19 | | within the Zone; | 20 | | (2) individuals living within a HOPE Zone are eligible | 21 | | to receive a 50% tax credit against their annual individual | 22 | | Illinois income tax as provided in Section 228 of the | 23 | | Illinois Income Tax Act; | 24 | | (3) taxpayers are eligible for a remediation tax credit | 25 | | as provided in subsection (n-1) of Section 201 of the |
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| 1 | | Illinois Income Tax Act; | 2 | | (4) a business maintaining operations in a HOPE Zone is | 3 | | allowed an increased credit under Section 216 of the | 4 | | Illinois Income Tax Act; | 5 | | (5) a retailer who makes a sale of building materials | 6 | | to be incorporated into real estate located in a HOPE Zone | 7 | | is entitled to a credit as provided in Section 5k of the | 8 | | Retailers' Occupation Tax Act; and | 9 | | (6) any business designated as a "High Impact Business" | 10 | | under Section 5.5 of the Illinois Enterprise Zone Act that | 11 | | intends to invest in a HOPE Zone, in a manner specified in | 12 | | subparagraphs (A) through (F) of that Section, shall be | 13 | | eligible for the credits and benefits provided in that | 14 | | Section; all provisions and procedures in Section 5.5 of | 15 | | the Illinois Enterprise Zone Act with respect to the | 16 | | application and designation of High Impact Businesses | 17 | | shall apply.
| 18 | | Section 30. Powers and duties of the Department.
| 19 | | (a) General powers. The Department shall administer this | 20 | | Act and shall have the following powers and duties:
| 21 | | (1) To monitor the implementation of this Act and
| 22 | | submit reports evaluating the effectiveness of the program | 23 | | and any suggestions for legislation to the Governor and | 24 | | General Assembly by October 1 of every year preceding a | 25 | | regular Session of the General Assembly and to annually |
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| 1 | | report to the General Assembly initial and current | 2 | | population, employment, per capita income, number of | 3 | | business establishments, dollar value of new construction | 4 | | and improvements, and the aggregate value of each tax | 5 | | incentive, based on information provided by the Department | 6 | | of Revenue, for each HOPE Zone.
| 7 | | (2) To adopt all necessary rules and regulations
to | 8 | | carry out the purposes of this Act in accordance with The | 9 | | Illinois Administrative Procedure Act.
| 10 | | (3) To assist municipalities and counties in
obtaining | 11 | | federal status as a HOPE Zone. | 12 | | (b) Specific duties:
| 13 | | (1) The Department shall provide information and
| 14 | | appropriate assistance to persons desiring to locate and | 15 | | engage in business in a HOPE Zone, to persons engaged in | 16 | | business in a HOPE Zone, and to designated Zone | 17 | | organizations operating there.
| 18 | | (2) The Department shall, in cooperation with
| 19 | | appropriate units of local government and State agencies, | 20 | | coordinate and streamline existing State business | 21 | | assistance programs and permit and license application | 22 | | procedures for HOPE Zone businesses.
| 23 | | (3) The Department shall publicize existing tax
| 24 | | incentives and economic development programs within the | 25 | | Zone and upon request, offer technical assistance in | 26 | | abatement and alternative revenue source development to |
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| 1 | | local units of government which have HOPE Zones within | 2 | | their jurisdiction.
| 3 | | (4) The Department shall work together with the
| 4 | | responsible State and federal agencies to promote the | 5 | | coordination of other relevant programs, including, but | 6 | | not limited to, housing, community and economic | 7 | | development, small business, banking, financial | 8 | | assistance, and employment training programs which are | 9 | | carried on in a HOPE Zone.
| 10 | | (5) In order to stimulate employment opportunities
for | 11 | | Zone residents, the Department, in cooperation with the | 12 | | Department of Human Services and the Department of | 13 | | Employment Security, is to initiate a test of the following | 14 | | 2 programs within the 12 month period following designation | 15 | | and approval by the Department of the first HOPE Zones: (i) | 16 | | the use of aid to families with dependent children benefits | 17 | | payable under Article IV of the Illinois Public Aid Code, | 18 | | General Assistance benefits payable under Article VI of the | 19 | | Illinois Public Aid Code, the unemployment insurance | 20 | | benefits payable under the Unemployment Insurance Act as | 21 | | training or employment subsidies leading to unsubsidized | 22 | | employment; and (ii) a program for voucher reimbursement of | 23 | | the cost of training Zone residents eligible under the | 24 | | Targeted Jobs Tax Credit provisions of the Internal Revenue | 25 | | Code for employment in private industry. These programs | 26 | | shall not be designed to subsidize businesses, but are |
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| 1 | | intended to open up job and training opportunities not | 2 | | otherwise available. Nothing in this paragraph (5) shall be | 3 | | deemed to require Zone businesses to utilize these | 4 | | programs. These programs should be designed (i) for those | 5 | | individuals whose opportunities for job-finding are | 6 | | minimal without program participation; (ii) to minimize | 7 | | the period of benefit collection by such individuals; and | 8 | | (iii) to accelerate the transition of those individuals to | 9 | | unsubsidized employment. The Department is to seek | 10 | | agreement with business, organized labor and the | 11 | | appropriate State Department, and agencies on the design, | 12 | | operation, and evaluation of the test programs.
| 13 | | A report with recommendations including representative | 14 | | comments of these groups shall be submitted by the Department | 15 | | to the Governor and General Assembly not later than 12 months | 16 | | after such test programs have commenced, or not later than 3 | 17 | | months following the termination of such test programs, | 18 | | whichever first occurs. | 19 | | Section 35. State incentives regarding public services and | 20 | | physical infrastructure.
| 21 | | (a) Industrial development bonds. Priority in the use of | 22 | | industrial development bonds issued by the Illinois Finance | 23 | | Authority shall be given to businesses located in HOPE Zones.
| 24 | | (b) Deposit of State funds by the State Treasurer. The | 25 | | State Treasurer is authorized and encouraged to place deposits |
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| 1 | | of State funds with financial institutions doing business in | 2 | | HOPE Zones.
| 3 | | Section 40. State regulatory exemptions in HOPE Zones.
| 4 | | (a) The Department shall conduct an ongoing review of such | 5 | | agency rules and regulations that may be identified by the | 6 | | Department as businesses and preliminarily appearing to the | 7 | | Department to:
| 8 | | (i) affect the conduct of business, industry, and | 9 | | commerce;
| 10 | | (ii) impose excessive costs on either the creation or | 11 | | conduct of such businesses; and
| 12 | | (iii) inhibit the development and expansions of | 13 | | businesses within HOPE Zones.
| 14 | | The Department shall conduct hearings, pursuant to public | 15 | | notice, to solicit public comment on such identified rules and | 16 | | regulations as part of this review process.
| 17 | | (b) No later than August 1 of each calendar year, the | 18 | | Department shall publish in the Illinois Register a list of | 19 | | such rules and regulations identified under subsection (a). The | 20 | | Department shall transmit a copy of the list to each agency | 21 | | which has adopted rules or regulations on the list.
| 22 | | (c) Within 90 days of the publication of the list by the | 23 | | Department, each agency which adopted rules or regulations | 24 | | identified therein shall file a written report with the | 25 | | Department detailing for each identified rule or regulation:
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| 1 | | (i) the need or justification;
| 2 | | (ii) whether the rule or regulation is mandated by | 3 | | State or federal law, or is discretionary, and to what | 4 | | extent;
| 5 | | (iii) a synopsis of the history of the rule, including | 6 | | any internal agency review after its original adoption; and
| 7 | | (iv) any appropriate explanation of its relationship | 8 | | to other regulatory requirements.
| 9 | | The adopting agency shall also include any available data, | 10 | | analysis, and studies concerning the economic impact of the | 11 | | identified rules and regulations. The agency responses shall be | 12 | | public records.
| 13 | | (d) No later than January 1 of the following calendar year, | 14 | | the Department shall file proposed rules exempting businesses | 15 | | within HOPE Zones from those agency rules and regulations | 16 | | contained in the published list, for which the Department finds | 17 | | that the job creation or business development incentives for | 18 | | HOPE Zone development engendered by the exemption outweigh the | 19 | | need and justification for the rule or regulation. In making | 20 | | its findings, the Department shall consider all information, | 21 | | data, and opinions submitted to it by the public, as well as by | 22 | | adopting agencies, as well as information otherwise available | 23 | | to it.
| 24 | | (e) The proposed rules and regulations adopted by the | 25 | | Department shall be in the form of amendments to the existing | 26 | | rules and regulations to be affected, and shall be subject to |
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| 1 | | the Illinois Administrative Procedure Act.
| 2 | | (f) Upon its effective date, any exempting rule or | 3 | | regulation of the Department shall supersede the exempted | 4 | | agency rule or regulation in accordance with the terms of the | 5 | | exemption. Such exemptions may apply only to businesses within | 6 | | HOPE Zones during the effective term of the respective Zones. | 7 | | Agencies may not adopt emergency rules to circumvent an | 8 | | exemption effected by a Department exemption rule; any such | 9 | | emergency rules shall not be effective within HOPE Zones to the | 10 | | extent inconsistent with the terms of such an exemption.
| 11 | | Section 45. State and local regulatory alternatives.
| 12 | | (a) Agencies may provide in their rules and regulations for | 13 | | (i) the exemption of businesses within HOPE Zones; or (ii) | 14 | | modifications or alternatives specifically applicable to | 15 | | businesses within HOPE Zones, which impose less stringent | 16 | | standards or alternative standards for compliance, including | 17 | | performance-based standards as a substitute for specific | 18 | | mandates of methods, procedures, or equipment.
| 19 | | Such exemptions, modifications, or alternatives shall be | 20 | | effected by rule or regulation adopted in accordance with the | 21 | | Illinois Administrative Procedure Act. The agency adopting | 22 | | exemptions, modifications, or alternatives shall file with its | 23 | | proposed rule or regulation its findings that the proposed rule | 24 | | or regulation provides economic incentives within HOPE Zones | 25 | | which promote the purposes of this Act, and which, to the |
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| 1 | | extent they include any exemptions or reductions in regulatory | 2 | | standards or requirements, outweigh the need or justification | 3 | | for the existing rule or regulation.
| 4 | | (b) If any agency adopts a rule or regulation under | 5 | | subsection (a) of this Section affecting a rule or regulation | 6 | | contained on the list published by the Department under Section | 7 | | 35 of this Act, prior to the completion of the rule making | 8 | | process for the Department's rules under that Section, the | 9 | | agency shall immediately transmit a copy of its proposed rule | 10 | | or regulation to the Department, together with a statement of | 11 | | reasons as to why the Department should defer to the agency's | 12 | | proposed rule or regulation. Agency rules adopted under | 13 | | subsection (a) of this Section shall, however, be subject to | 14 | | the exemption rules and regulations of the Department adopted | 15 | | under Section 35 of this Act.
| 16 | | (c) The county or municipality containing a HOPE Zone may | 17 | | modify all local ordinances and regulations regarding (1) | 18 | | zoning; (2) licensing; (3) building codes, excluding however, | 19 | | any regulations treating building defects; and (4) rent control | 20 | | and price controls; except for the minimum wage. | 21 | | Notwithstanding any shorter statute of limitation to the | 22 | | contrary, actions against any contractor or architect who | 23 | | designs, constructs, or rehabilitates a building or structure | 24 | | in a HOPE Zone in accordance with local standards specifically | 25 | | applicable within Zones which have been relaxed may be | 26 | | commenced within 10 years from the time of beneficial occupancy |
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| 1 | | of the building or use of the structure.
| 2 | | Section 900. The Illinois Income Tax Act is amended by | 3 | | changing Sections 201 and 216 and by adding Sections 227 and | 4 | | 228 as follows: | 5 | | (35 ILCS 5/201) (from Ch. 120, par. 2-201) | 6 | | Sec. 201. Tax imposed. | 7 | | (a) In general. A tax measured by net income is hereby | 8 | | imposed on every
individual, corporation, trust and estate for | 9 | | each taxable year ending
after July 31, 1969 on the privilege | 10 | | of earning or receiving income in or
as a resident of this | 11 | | State. Such tax shall be in addition to all other
occupation or | 12 | | privilege taxes imposed by this State or by any municipal
| 13 | | corporation or political subdivision thereof. | 14 | | (b) Rates. The tax imposed by subsection (a) of this | 15 | | Section shall be
determined as follows, except as adjusted by | 16 | | subsection (d-1): | 17 | | (1) In the case of an individual, trust or estate, for | 18 | | taxable years
ending prior to July 1, 1989, an amount equal | 19 | | to 2 1/2% of the taxpayer's
net income for the taxable | 20 | | year. | 21 | | (2) In the case of an individual, trust or estate, for | 22 | | taxable years
beginning prior to July 1, 1989 and ending | 23 | | after June 30, 1989, an amount
equal to the sum of (i) 2 | 24 | | 1/2% of the taxpayer's net income for the period
prior to |
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| 1 | | July 1, 1989, as calculated under Section 202.3, and (ii) | 2 | | 3% of the
taxpayer's net income for the period after June | 3 | | 30, 1989, as calculated
under Section 202.3. | 4 | | (3) In the case of an individual, trust or estate, for | 5 | | taxable years
beginning after June 30, 1989, and ending | 6 | | prior to January 1, 2011, an amount equal to 3% of the | 7 | | taxpayer's net
income for the taxable year. | 8 | | (4) In the case of an individual, trust, or estate, for | 9 | | taxable years beginning prior to January 1, 2011, and | 10 | | ending after December 31, 2010, an amount equal to the sum | 11 | | of (i) 3% of the taxpayer's net income for the period prior | 12 | | to January 1, 2011, as calculated under Section 202.5, and | 13 | | (ii) 5% of the taxpayer's net income for the period after | 14 | | December 31, 2010, as calculated under Section 202.5. | 15 | | (5) In the case of an individual, trust, or estate, for | 16 | | taxable years beginning on or after January 1, 2011, and | 17 | | ending prior to January 1, 2015, an amount equal to 5% of | 18 | | the taxpayer's net income for the taxable year. | 19 | | (5.1) In the case of an individual, trust, or estate, | 20 | | for taxable years beginning prior to January 1, 2015, and | 21 | | ending after December 31, 2014, an amount equal to the sum | 22 | | of (i) 5% of the taxpayer's net income for the period prior | 23 | | to January 1, 2015, as calculated under Section 202.5, and | 24 | | (ii) 3.75% of the taxpayer's net income for the period | 25 | | after December 31, 2014, as calculated under Section 202.5. | 26 | | (5.2) In the case of an individual, trust, or estate, |
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| 1 | | for taxable years beginning on or after January 1, 2015, | 2 | | and ending prior to July 1, 2017, an amount equal to 3.75% | 3 | | of the taxpayer's net income for the taxable year. | 4 | | (5.3) In the case of an individual, trust, or estate, | 5 | | for taxable years beginning prior to July 1, 2017, and | 6 | | ending after June 30, 2017, an amount equal to the sum of | 7 | | (i) 3.75% of the taxpayer's net income for the period prior | 8 | | to July 1, 2017, as calculated under Section 202.5, and | 9 | | (ii) 4.95% of the taxpayer's net income for the period | 10 | | after June 30, 2017, as calculated under Section 202.5. | 11 | | (5.4) In the case of an individual, trust, or estate, | 12 | | for taxable years beginning on or after July 1, 2017, an | 13 | | amount equal to 4.95% of the taxpayer's net income for the | 14 | | taxable year. | 15 | | (6) In the case of a corporation, for taxable years
| 16 | | ending prior to July 1, 1989, an amount equal to 4% of the
| 17 | | taxpayer's net income for the taxable year. | 18 | | (7) In the case of a corporation, for taxable years | 19 | | beginning prior to
July 1, 1989 and ending after June 30, | 20 | | 1989, an amount equal to the sum of
(i) 4% of the | 21 | | taxpayer's net income for the period prior to July 1, 1989,
| 22 | | as calculated under Section 202.3, and (ii) 4.8% of the | 23 | | taxpayer's net
income for the period after June 30, 1989, | 24 | | as calculated under Section
202.3. | 25 | | (8) In the case of a corporation, for taxable years | 26 | | beginning after
June 30, 1989, and ending prior to January |
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| 1 | | 1, 2011, an amount equal to 4.8% of the taxpayer's net | 2 | | income for the
taxable year. | 3 | | (9) In the case of a corporation, for taxable years | 4 | | beginning prior to January 1, 2011, and ending after | 5 | | December 31, 2010, an amount equal to the sum of (i) 4.8% | 6 | | of the taxpayer's net income for the period prior to | 7 | | January 1, 2011, as calculated under Section 202.5, and | 8 | | (ii) 7% of the taxpayer's net income for the period after | 9 | | December 31, 2010, as calculated under Section 202.5. | 10 | | (10) In the case of a corporation, for taxable years | 11 | | beginning on or after January 1, 2011, and ending prior to | 12 | | January 1, 2015, an amount equal to 7% of the taxpayer's | 13 | | net income for the taxable year. | 14 | | (11) In the case of a corporation, for taxable years | 15 | | beginning prior to January 1, 2015, and ending after | 16 | | December 31, 2014, an amount equal to the sum of (i) 7% of | 17 | | the taxpayer's net income for the period prior to January | 18 | | 1, 2015, as calculated under Section 202.5, and (ii) 5.25% | 19 | | of the taxpayer's net income for the period after December | 20 | | 31, 2014, as calculated under Section 202.5. | 21 | | (12) In the case of a corporation, for taxable years | 22 | | beginning on or after January 1, 2015, and ending prior to | 23 | | July 1, 2017, an amount equal to 5.25% of the taxpayer's | 24 | | net income for the taxable year. | 25 | | (13) In the case of a corporation, for taxable years | 26 | | beginning prior to July 1, 2017, and ending after June 30, |
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| 1 | | 2017, an amount equal to the sum of (i) 5.25% of the | 2 | | taxpayer's net income for the period prior to July 1, 2017, | 3 | | as calculated under Section 202.5, and (ii) 7% of the | 4 | | taxpayer's net income for the period after June 30, 2017, | 5 | | as calculated under Section 202.5. | 6 | | (14) In the case of a corporation, for taxable years | 7 | | beginning on or after July 1, 2017, an amount equal to 7% | 8 | | of the taxpayer's net income for the taxable year. | 9 | | The rates under this subsection (b) are subject to the | 10 | | provisions of Section 201.5. | 11 | | (c) Personal Property Tax Replacement Income Tax.
| 12 | | Beginning on July 1, 1979 and thereafter, in addition to such | 13 | | income
tax, there is also hereby imposed the Personal Property | 14 | | Tax Replacement
Income Tax measured by net income on every | 15 | | corporation (including Subchapter
S corporations), partnership | 16 | | and trust, for each taxable year ending after
June 30, 1979. | 17 | | Such taxes are imposed on the privilege of earning or
receiving | 18 | | income in or as a resident of this State. The Personal Property
| 19 | | Tax Replacement Income Tax shall be in addition to the income | 20 | | tax imposed
by subsections (a) and (b) of this Section and in | 21 | | addition to all other
occupation or privilege taxes imposed by | 22 | | this State or by any municipal
corporation or political | 23 | | subdivision thereof. | 24 | | (d) Additional Personal Property Tax Replacement Income | 25 | | Tax Rates.
The personal property tax replacement income tax | 26 | | imposed by this subsection
and subsection (c) of this Section |
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| 1 | | in the case of a corporation, other
than a Subchapter S | 2 | | corporation and except as adjusted by subsection (d-1),
shall | 3 | | be an additional amount equal to
2.85% of such taxpayer's net | 4 | | income for the taxable year, except that
beginning on January | 5 | | 1, 1981, and thereafter, the rate of 2.85% specified
in this | 6 | | subsection shall be reduced to 2.5%, and in the case of a
| 7 | | partnership, trust or a Subchapter S corporation shall be an | 8 | | additional
amount equal to 1.5% of such taxpayer's net income | 9 | | for the taxable year. | 10 | | (d-1) Rate reduction for certain foreign insurers. In the | 11 | | case of a
foreign insurer, as defined by Section 35A-5 of the | 12 | | Illinois Insurance Code,
whose state or country of domicile | 13 | | imposes on insurers domiciled in Illinois
a retaliatory tax | 14 | | (excluding any insurer
whose premiums from reinsurance assumed | 15 | | are 50% or more of its total insurance
premiums as determined | 16 | | under paragraph (2) of subsection (b) of Section 304,
except | 17 | | that for purposes of this determination premiums from | 18 | | reinsurance do
not include premiums from inter-affiliate | 19 | | reinsurance arrangements),
beginning with taxable years ending | 20 | | on or after December 31, 1999,
the sum of
the rates of tax | 21 | | imposed by subsections (b) and (d) shall be reduced (but not
| 22 | | increased) to the rate at which the total amount of tax imposed | 23 | | under this Act,
net of all credits allowed under this Act, | 24 | | shall equal (i) the total amount of
tax that would be imposed | 25 | | on the foreign insurer's net income allocable to
Illinois for | 26 | | the taxable year by such foreign insurer's state or country of
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| 1 | | domicile if that net income were subject to all income taxes | 2 | | and taxes
measured by net income imposed by such foreign | 3 | | insurer's state or country of
domicile, net of all credits | 4 | | allowed or (ii) a rate of zero if no such tax is
imposed on such | 5 | | income by the foreign insurer's state of domicile.
For the | 6 | | purposes of this subsection (d-1), an inter-affiliate includes | 7 | | a
mutual insurer under common management. | 8 | | (1) For the purposes of subsection (d-1), in no event | 9 | | shall the sum of the
rates of tax imposed by subsections | 10 | | (b) and (d) be reduced below the rate at
which the sum of: | 11 | | (A) the total amount of tax imposed on such foreign | 12 | | insurer under
this Act for a taxable year, net of all | 13 | | credits allowed under this Act, plus | 14 | | (B) the privilege tax imposed by Section 409 of the | 15 | | Illinois Insurance
Code, the fire insurance company | 16 | | tax imposed by Section 12 of the Fire
Investigation | 17 | | Act, and the fire department taxes imposed under | 18 | | Section 11-10-1
of the Illinois Municipal Code, | 19 | | equals 1.25% for taxable years ending prior to December 31, | 20 | | 2003, or
1.75% for taxable years ending on or after | 21 | | December 31, 2003, of the net
taxable premiums written for | 22 | | the taxable year,
as described by subsection (1) of Section | 23 | | 409 of the Illinois Insurance Code.
This paragraph will in | 24 | | no event increase the rates imposed under subsections
(b) | 25 | | and (d). | 26 | | (2) Any reduction in the rates of tax imposed by this |
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| 1 | | subsection shall be
applied first against the rates imposed | 2 | | by subsection (b) and only after the
tax imposed by | 3 | | subsection (a) net of all credits allowed under this | 4 | | Section
other than the credit allowed under subsection (i) | 5 | | has been reduced to zero,
against the rates imposed by | 6 | | subsection (d). | 7 | | This subsection (d-1) is exempt from the provisions of | 8 | | Section 250. | 9 | | (e) Investment credit. A taxpayer shall be allowed a credit
| 10 | | against the Personal Property Tax Replacement Income Tax for
| 11 | | investment in qualified property. | 12 | | (1) A taxpayer shall be allowed a credit equal to .5% | 13 | | of
the basis of qualified property placed in service during | 14 | | the taxable year,
provided such property is placed in | 15 | | service on or after
July 1, 1984. There shall be allowed an | 16 | | additional credit equal
to .5% of the basis of qualified | 17 | | property placed in service during the
taxable year, | 18 | | provided such property is placed in service on or
after | 19 | | July 1, 1986, and the taxpayer's base employment
within | 20 | | Illinois has increased by 1% or more over the preceding | 21 | | year as
determined by the taxpayer's employment records | 22 | | filed with the
Illinois Department of Employment Security. | 23 | | Taxpayers who are new to
Illinois shall be deemed to have | 24 | | met the 1% growth in base employment for
the first year in | 25 | | which they file employment records with the Illinois
| 26 | | Department of Employment Security. The provisions added to |
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| 1 | | this Section by
Public Act 85-1200 (and restored by Public | 2 | | Act 87-895) shall be
construed as declaratory of existing | 3 | | law and not as a new enactment. If,
in any year, the | 4 | | increase in base employment within Illinois over the
| 5 | | preceding year is less than 1%, the additional credit shall | 6 | | be limited to that
percentage times a fraction, the | 7 | | numerator of which is .5% and the denominator
of which is | 8 | | 1%, but shall not exceed .5%. The investment credit shall | 9 | | not be
allowed to the extent that it would reduce a | 10 | | taxpayer's liability in any tax
year below zero, nor may | 11 | | any credit for qualified property be allowed for any
year | 12 | | other than the year in which the property was placed in | 13 | | service in
Illinois. For tax years ending on or after | 14 | | December 31, 1987, and on or
before December 31, 1988, the | 15 | | credit shall be allowed for the tax year in
which the | 16 | | property is placed in service, or, if the amount of the | 17 | | credit
exceeds the tax liability for that year, whether it | 18 | | exceeds the original
liability or the liability as later | 19 | | amended, such excess may be carried
forward and applied to | 20 | | the tax liability of the 5 taxable years following
the | 21 | | excess credit years if the taxpayer (i) makes investments | 22 | | which cause
the creation of a minimum of 2,000 full-time | 23 | | equivalent jobs in Illinois,
(ii) is located in an | 24 | | enterprise zone established pursuant to the Illinois
| 25 | | Enterprise Zone Act and (iii) is certified by the | 26 | | Department of Commerce
and Community Affairs (now |
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| 1 | | Department of Commerce and Economic Opportunity) as | 2 | | complying with the requirements specified in
clause (i) and | 3 | | (ii) by July 1, 1986. The Department of Commerce and
| 4 | | Community Affairs (now Department of Commerce and Economic | 5 | | Opportunity) shall notify the Department of Revenue of all | 6 | | such
certifications immediately. For tax years ending | 7 | | after December 31, 1988,
the credit shall be allowed for | 8 | | the tax year in which the property is
placed in service, | 9 | | or, if the amount of the credit exceeds the tax
liability | 10 | | for that year, whether it exceeds the original liability or | 11 | | the
liability as later amended, such excess may be carried | 12 | | forward and applied
to the tax liability of the 5 taxable | 13 | | years following the excess credit
years. The credit shall | 14 | | be applied to the earliest year for which there is
a | 15 | | liability. If there is credit from more than one tax year | 16 | | that is
available to offset a liability, earlier credit | 17 | | shall be applied first. | 18 | | (2) The term "qualified property" means property | 19 | | which: | 20 | | (A) is tangible, whether new or used, including | 21 | | buildings and structural
components of buildings and | 22 | | signs that are real property, but not including
land or | 23 | | improvements to real property that are not a structural | 24 | | component of a
building such as landscaping, sewer | 25 | | lines, local access roads, fencing, parking
lots, and | 26 | | other appurtenances; |
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| 1 | | (B) is depreciable pursuant to Section 167 of the | 2 | | Internal Revenue Code,
except that "3-year property" | 3 | | as defined in Section 168(c)(2)(A) of that
Code is not | 4 | | eligible for the credit provided by this subsection | 5 | | (e); | 6 | | (C) is acquired by purchase as defined in Section | 7 | | 179(d) of
the Internal Revenue Code; | 8 | | (D) is used in Illinois by a taxpayer who is | 9 | | primarily engaged in
manufacturing, or in mining coal | 10 | | or fluorite, or in retailing, or was placed in service | 11 | | on or after July 1, 2006 in a River Edge Redevelopment | 12 | | Zone established pursuant to the River Edge | 13 | | Redevelopment Zone Act; and | 14 | | (E) has not previously been used in Illinois in | 15 | | such a manner and by
such a person as would qualify for | 16 | | the credit provided by this subsection
(e) or | 17 | | subsection (f). | 18 | | (3) For purposes of this subsection (e), | 19 | | "manufacturing" means
the material staging and production | 20 | | of tangible personal property by
procedures commonly | 21 | | regarded as manufacturing, processing, fabrication, or
| 22 | | assembling which changes some existing material into new | 23 | | shapes, new
qualities, or new combinations. For purposes of | 24 | | this subsection
(e) the term "mining" shall have the same | 25 | | meaning as the term "mining" in
Section 613(c) of the | 26 | | Internal Revenue Code. For purposes of this subsection
(e), |
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| 1 | | the term "retailing" means the sale of tangible personal | 2 | | property for use or consumption and not for resale, or
| 3 | | services rendered in conjunction with the sale of tangible | 4 | | personal property for use or consumption and not for | 5 | | resale. For purposes of this subsection (e), "tangible | 6 | | personal property" has the same meaning as when that term | 7 | | is used in the Retailers' Occupation Tax Act, and, for | 8 | | taxable years ending after December 31, 2008, does not | 9 | | include the generation, transmission, or distribution of | 10 | | electricity. | 11 | | (4) The basis of qualified property shall be the basis
| 12 | | used to compute the depreciation deduction for federal | 13 | | income tax purposes. | 14 | | (5) If the basis of the property for federal income tax | 15 | | depreciation
purposes is increased after it has been placed | 16 | | in service in Illinois by
the taxpayer, the amount of such | 17 | | increase shall be deemed property placed
in service on the | 18 | | date of such increase in basis. | 19 | | (6) The term "placed in service" shall have the same
| 20 | | meaning as under Section 46 of the Internal Revenue Code. | 21 | | (7) If during any taxable year, any property ceases to
| 22 | | be qualified property in the hands of the taxpayer within | 23 | | 48 months after
being placed in service, or the situs of | 24 | | any qualified property is
moved outside Illinois within 48 | 25 | | months after being placed in service, the
Personal Property | 26 | | Tax Replacement Income Tax for such taxable year shall be
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| 1 | | increased. Such increase shall be determined by (i) | 2 | | recomputing the
investment credit which would have been | 3 | | allowed for the year in which
credit for such property was | 4 | | originally allowed by eliminating such
property from such | 5 | | computation and, (ii) subtracting such recomputed credit
| 6 | | from the amount of credit previously allowed. For the | 7 | | purposes of this
paragraph (7), a reduction of the basis of | 8 | | qualified property resulting
from a redetermination of the | 9 | | purchase price shall be deemed a disposition
of qualified | 10 | | property to the extent of such reduction. | 11 | | (8) Unless the investment credit is extended by law, | 12 | | the
basis of qualified property shall not include costs | 13 | | incurred after
December 31, 2018, except for costs incurred | 14 | | pursuant to a binding
contract entered into on or before | 15 | | December 31, 2018. | 16 | | (9) Each taxable year ending before December 31, 2000, | 17 | | a partnership may
elect to pass through to its
partners the | 18 | | credits to which the partnership is entitled under this | 19 | | subsection
(e) for the taxable year. A partner may use the | 20 | | credit allocated to him or her
under this paragraph only | 21 | | against the tax imposed in subsections (c) and (d) of
this | 22 | | Section. If the partnership makes that election, those | 23 | | credits shall be
allocated among the partners in the | 24 | | partnership in accordance with the rules
set forth in | 25 | | Section 704(b) of the Internal Revenue Code, and the rules
| 26 | | promulgated under that Section, and the allocated amount of |
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| 1 | | the credits shall
be allowed to the partners for that | 2 | | taxable year. The partnership shall make
this election on | 3 | | its Personal Property Tax Replacement Income Tax return for
| 4 | | that taxable year. The election to pass through the credits | 5 | | shall be
irrevocable. | 6 | | For taxable years ending on or after December 31, 2000, | 7 | | a
partner that qualifies its
partnership for a subtraction | 8 | | under subparagraph (I) of paragraph (2) of
subsection (d) | 9 | | of Section 203 or a shareholder that qualifies a Subchapter | 10 | | S
corporation for a subtraction under subparagraph (S) of | 11 | | paragraph (2) of
subsection (b) of Section 203 shall be | 12 | | allowed a credit under this subsection
(e) equal to its | 13 | | share of the credit earned under this subsection (e) during
| 14 | | the taxable year by the partnership or Subchapter S | 15 | | corporation, determined in
accordance with the | 16 | | determination of income and distributive share of
income | 17 | | under Sections 702 and 704 and Subchapter S of the Internal | 18 | | Revenue
Code. This paragraph is exempt from the provisions | 19 | | of Section 250. | 20 | | (f) Investment credit; Enterprise Zone; River Edge | 21 | | Redevelopment Zone. | 22 | | (1) A taxpayer shall be allowed a credit against the | 23 | | tax imposed
by subsections (a) and (b) of this Section for | 24 | | investment in qualified
property which is placed in service | 25 | | in an Enterprise Zone created
pursuant to the Illinois | 26 | | Enterprise Zone Act or, for property placed in service on |
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| 1 | | or after July 1, 2006, a River Edge Redevelopment Zone | 2 | | established pursuant to the River Edge Redevelopment Zone | 3 | | Act. For partners, shareholders
of Subchapter S | 4 | | corporations, and owners of limited liability companies,
| 5 | | if the liability company is treated as a partnership for | 6 | | purposes of
federal and State income taxation, there shall | 7 | | be allowed a credit under
this subsection (f) to be | 8 | | determined in accordance with the determination
of income | 9 | | and distributive share of income under Sections 702 and 704 | 10 | | and
Subchapter S of the Internal Revenue Code. The credit | 11 | | shall be .5% of the
basis for such property. The credit | 12 | | shall be available only in the taxable
year in which the | 13 | | property is placed in service in the Enterprise Zone or | 14 | | River Edge Redevelopment Zone and
shall not be allowed to | 15 | | the extent that it would reduce a taxpayer's
liability for | 16 | | the tax imposed by subsections (a) and (b) of this Section | 17 | | to
below zero. For tax years ending on or after December | 18 | | 31, 1985, the credit
shall be allowed for the tax year in | 19 | | which the property is placed in
service, or, if the amount | 20 | | of the credit exceeds the tax liability for that
year, | 21 | | whether it exceeds the original liability or the liability | 22 | | as later
amended, such excess may be carried forward and | 23 | | applied to the tax
liability of the 5 taxable years | 24 | | following the excess credit year.
The credit shall be | 25 | | applied to the earliest year for which there is a
| 26 | | liability. If there is credit from more than one tax year |
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| 1 | | that is available
to offset a liability, the credit | 2 | | accruing first in time shall be applied
first. | 3 | | (2) The term qualified property means property which: | 4 | | (A) is tangible, whether new or used, including | 5 | | buildings and
structural components of buildings; | 6 | | (B) is depreciable pursuant to Section 167 of the | 7 | | Internal Revenue
Code, except that "3-year property" | 8 | | as defined in Section 168(c)(2)(A) of
that Code is not | 9 | | eligible for the credit provided by this subsection | 10 | | (f); | 11 | | (C) is acquired by purchase as defined in Section | 12 | | 179(d) of
the Internal Revenue Code; | 13 | | (D) is used in the Enterprise Zone or River Edge | 14 | | Redevelopment Zone by the taxpayer; and | 15 | | (E) has not been previously used in Illinois in | 16 | | such a manner and by
such a person as would qualify for | 17 | | the credit provided by this subsection
(f) or | 18 | | subsection (e). | 19 | | (3) The basis of qualified property shall be the basis | 20 | | used to compute
the depreciation deduction for federal | 21 | | income tax purposes. | 22 | | (4) If the basis of the property for federal income tax | 23 | | depreciation
purposes is increased after it has been placed | 24 | | in service in the Enterprise
Zone or River Edge | 25 | | Redevelopment Zone by the taxpayer, the amount of such | 26 | | increase shall be deemed property
placed in service on the |
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| 1 | | date of such increase in basis. | 2 | | (5) The term "placed in service" shall have the same | 3 | | meaning as under
Section 46 of the Internal Revenue Code. | 4 | | (6) If during any taxable year, any property ceases to | 5 | | be qualified
property in the hands of the taxpayer within | 6 | | 48 months after being placed
in service, or the situs of | 7 | | any qualified property is moved outside the
Enterprise Zone | 8 | | or River Edge Redevelopment Zone within 48 months after | 9 | | being placed in service, the tax
imposed under subsections | 10 | | (a) and (b) of this Section for such taxable year
shall be | 11 | | increased. Such increase shall be determined by (i) | 12 | | recomputing
the investment credit which would have been | 13 | | allowed for the year in which
credit for such property was | 14 | | originally allowed by eliminating such
property from such | 15 | | computation, and (ii) subtracting such recomputed credit
| 16 | | from the amount of credit previously allowed. For the | 17 | | purposes of this
paragraph (6), a reduction of the basis of | 18 | | qualified property resulting
from a redetermination of the | 19 | | purchase price shall be deemed a disposition
of qualified | 20 | | property to the extent of such reduction. | 21 | | (7) There shall be allowed an additional credit equal | 22 | | to 0.5% of the basis of qualified property placed in | 23 | | service during the taxable year in a River Edge | 24 | | Redevelopment Zone, provided such property is placed in | 25 | | service on or after July 1, 2006, and the taxpayer's base | 26 | | employment within Illinois has increased by 1% or more over |
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| 1 | | the preceding year as determined by the taxpayer's | 2 | | employment records filed with the Illinois Department of | 3 | | Employment Security. Taxpayers who are new to Illinois | 4 | | shall be deemed to have met the 1% growth in base | 5 | | employment for the first year in which they file employment | 6 | | records with the Illinois Department of Employment | 7 | | Security. If, in any year, the increase in base employment | 8 | | within Illinois over the preceding year is less than 1%, | 9 | | the additional credit shall be limited to that percentage | 10 | | times a fraction, the numerator of which is 0.5% and the | 11 | | denominator of which is 1%, but shall not exceed 0.5%.
| 12 | | (g) (Blank). | 13 | | (h) Investment credit; High Impact Business. | 14 | | (1) Subject to subsections (b) and (b-5) of Section
5.5 | 15 | | of the Illinois Enterprise Zone Act, a taxpayer shall be | 16 | | allowed a credit
against the tax imposed by subsections (a) | 17 | | and (b) of this Section for
investment in qualified
| 18 | | property which is placed in service by a Department of | 19 | | Commerce and Economic Opportunity
designated High Impact | 20 | | Business. The credit shall be .5% of the basis
for such | 21 | | property. The credit shall not be available (i) until the | 22 | | minimum
investments in qualified property set forth in | 23 | | subdivision (a)(3)(A) of
Section 5.5 of the Illinois
| 24 | | Enterprise Zone Act have been satisfied
or (ii) until the | 25 | | time authorized in subsection (b-5) of the Illinois
| 26 | | Enterprise Zone Act for entities designated as High Impact |
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| 1 | | Businesses under
subdivisions (a)(3)(B), (a)(3)(C), and | 2 | | (a)(3)(D) of Section 5.5 of the Illinois
Enterprise Zone | 3 | | Act, and shall not be allowed to the extent that it would
| 4 | | reduce a taxpayer's liability for the tax imposed by | 5 | | subsections (a) and (b) of
this Section to below zero. The | 6 | | credit applicable to such investments shall be
taken in the | 7 | | taxable year in which such investments have been completed. | 8 | | The
credit for additional investments beyond the minimum | 9 | | investment by a designated
high impact business authorized | 10 | | under subdivision (a)(3)(A) of Section 5.5 of
the Illinois | 11 | | Enterprise Zone Act shall be available only in the taxable | 12 | | year in
which the property is placed in service and shall | 13 | | not be allowed to the extent
that it would reduce a | 14 | | taxpayer's liability for the tax imposed by subsections
(a) | 15 | | and (b) of this Section to below zero.
For tax years ending | 16 | | on or after December 31, 1987, the credit shall be
allowed | 17 | | for the tax year in which the property is placed in | 18 | | service, or, if
the amount of the credit exceeds the tax | 19 | | liability for that year, whether
it exceeds the original | 20 | | liability or the liability as later amended, such
excess | 21 | | may be carried forward and applied to the tax liability of | 22 | | the 5
taxable years following the excess credit year. The | 23 | | credit shall be
applied to the earliest year for which | 24 | | there is a liability. If there is
credit from more than one | 25 | | tax year that is available to offset a liability,
the | 26 | | credit accruing first in time shall be applied first. |
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| 1 | | Changes made in this subdivision (h)(1) by Public Act | 2 | | 88-670
restore changes made by Public Act 85-1182 and | 3 | | reflect existing law. | 4 | | (2) The term qualified property means property which: | 5 | | (A) is tangible, whether new or used, including | 6 | | buildings and
structural components of buildings; | 7 | | (B) is depreciable pursuant to Section 167 of the | 8 | | Internal Revenue
Code, except that "3-year property" | 9 | | as defined in Section 168(c)(2)(A) of
that Code is not | 10 | | eligible for the credit provided by this subsection | 11 | | (h); | 12 | | (C) is acquired by purchase as defined in Section | 13 | | 179(d) of the
Internal Revenue Code; and | 14 | | (D) is not eligible for the Enterprise Zone | 15 | | Investment Credit provided
by subsection (f) of this | 16 | | Section. | 17 | | (3) The basis of qualified property shall be the basis | 18 | | used to compute
the depreciation deduction for federal | 19 | | income tax purposes. | 20 | | (4) If the basis of the property for federal income tax | 21 | | depreciation
purposes is increased after it has been placed | 22 | | in service in a federally
designated Foreign Trade Zone or | 23 | | Sub-Zone located in Illinois by the taxpayer,
the amount of | 24 | | such increase shall be deemed property placed in service on
| 25 | | the date of such increase in basis. | 26 | | (5) The term "placed in service" shall have the same |
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| 1 | | meaning as under
Section 46 of the Internal Revenue Code. | 2 | | (6) If during any taxable year ending on or before | 3 | | December 31, 1996,
any property ceases to be qualified
| 4 | | property in the hands of the taxpayer within 48 months | 5 | | after being placed
in service, or the situs of any | 6 | | qualified property is moved outside
Illinois within 48 | 7 | | months after being placed in service, the tax imposed
under | 8 | | subsections (a) and (b) of this Section for such taxable | 9 | | year shall
be increased. Such increase shall be determined | 10 | | by (i) recomputing the
investment credit which would have | 11 | | been allowed for the year in which
credit for such property | 12 | | was originally allowed by eliminating such
property from | 13 | | such computation, and (ii) subtracting such recomputed | 14 | | credit
from the amount of credit previously allowed. For | 15 | | the purposes of this
paragraph (6), a reduction of the | 16 | | basis of qualified property resulting
from a | 17 | | redetermination of the purchase price shall be deemed a | 18 | | disposition
of qualified property to the extent of such | 19 | | reduction. | 20 | | (7) Beginning with tax years ending after December 31, | 21 | | 1996, if a
taxpayer qualifies for the credit under this | 22 | | subsection (h) and thereby is
granted a tax abatement and | 23 | | the taxpayer relocates its entire facility in
violation of | 24 | | the explicit terms and length of the contract under Section
| 25 | | 18-183 of the Property Tax Code, the tax imposed under | 26 | | subsections
(a) and (b) of this Section shall be increased |
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| 1 | | for the taxable year
in which the taxpayer relocated its | 2 | | facility by an amount equal to the
amount of credit | 3 | | received by the taxpayer under this subsection (h). | 4 | | (i) Credit for Personal Property Tax Replacement Income | 5 | | Tax.
For tax years ending prior to December 31, 2003, a credit | 6 | | shall be allowed
against the tax imposed by
subsections (a) and | 7 | | (b) of this Section for the tax imposed by subsections (c)
and | 8 | | (d) of this Section. This credit shall be computed by | 9 | | multiplying the tax
imposed by subsections (c) and (d) of this | 10 | | Section by a fraction, the numerator
of which is base income | 11 | | allocable to Illinois and the denominator of which is
Illinois | 12 | | base income, and further multiplying the product by the tax | 13 | | rate
imposed by subsections (a) and (b) of this Section. | 14 | | Any credit earned on or after December 31, 1986 under
this | 15 | | subsection which is unused in the year
the credit is computed | 16 | | because it exceeds the tax liability imposed by
subsections (a) | 17 | | and (b) for that year (whether it exceeds the original
| 18 | | liability or the liability as later amended) may be carried | 19 | | forward and
applied to the tax liability imposed by subsections | 20 | | (a) and (b) of the 5
taxable years following the excess credit | 21 | | year, provided that no credit may
be carried forward to any | 22 | | year ending on or
after December 31, 2003. This credit shall be
| 23 | | applied first to the earliest year for which there is a | 24 | | liability. If
there is a credit under this subsection from more | 25 | | than one tax year that is
available to offset a liability the | 26 | | earliest credit arising under this
subsection shall be applied |
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| 1 | | first. | 2 | | If, during any taxable year ending on or after December 31, | 3 | | 1986, the
tax imposed by subsections (c) and (d) of this | 4 | | Section for which a taxpayer
has claimed a credit under this | 5 | | subsection (i) is reduced, the amount of
credit for such tax | 6 | | shall also be reduced. Such reduction shall be
determined by | 7 | | recomputing the credit to take into account the reduced tax
| 8 | | imposed by subsections (c) and (d). If any portion of the
| 9 | | reduced amount of credit has been carried to a different | 10 | | taxable year, an
amended return shall be filed for such taxable | 11 | | year to reduce the amount of
credit claimed. | 12 | | (j) Training expense credit. Beginning with tax years | 13 | | ending on or
after December 31, 1986 and prior to December 31, | 14 | | 2003, a taxpayer shall be
allowed a credit against the
tax | 15 | | imposed by subsections (a) and (b) under this Section
for all | 16 | | amounts paid or accrued, on behalf of all persons
employed by | 17 | | the taxpayer in Illinois or Illinois residents employed
outside | 18 | | of Illinois by a taxpayer, for educational or vocational | 19 | | training in
semi-technical or technical fields or semi-skilled | 20 | | or skilled fields, which
were deducted from gross income in the | 21 | | computation of taxable income. The
credit against the tax | 22 | | imposed by subsections (a) and (b) shall be 1.6% of
such | 23 | | training expenses. For partners, shareholders of subchapter S
| 24 | | corporations, and owners of limited liability companies, if the | 25 | | liability
company is treated as a partnership for purposes of | 26 | | federal and State income
taxation, there shall be allowed a |
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| 1 | | credit under this subsection (j) to be
determined in accordance | 2 | | with the determination of income and distributive
share of | 3 | | income under Sections 702 and 704 and subchapter S of the | 4 | | Internal
Revenue Code. | 5 | | Any credit allowed under this subsection which is unused in | 6 | | the year
the credit is earned may be carried forward to each of | 7 | | the 5 taxable
years following the year for which the credit is | 8 | | first computed until it is
used. This credit shall be applied | 9 | | first to the earliest year for which
there is a liability. If | 10 | | there is a credit under this subsection from more
than one tax | 11 | | year that is available to offset a liability the earliest
| 12 | | credit arising under this subsection shall be applied first. No | 13 | | carryforward
credit may be claimed in any tax year ending on or | 14 | | after
December 31, 2003. | 15 | | (k) Research and development credit. For tax years ending | 16 | | after July 1, 1990 and prior to
December 31, 2003, and | 17 | | beginning again for tax years ending on or after December 31, | 18 | | 2004, and ending prior to January 1, 2022, a taxpayer shall be
| 19 | | allowed a credit against the tax imposed by subsections (a) and | 20 | | (b) of this
Section for increasing research activities in this | 21 | | State. The credit
allowed against the tax imposed by | 22 | | subsections (a) and (b) shall be equal
to 6 1/2% of the | 23 | | qualifying expenditures for increasing research activities
in | 24 | | this State. For partners, shareholders of subchapter S | 25 | | corporations, and
owners of limited liability companies, if the | 26 | | liability company is treated as a
partnership for purposes of |
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| 1 | | federal and State income taxation, there shall be
allowed a | 2 | | credit under this subsection to be determined in accordance | 3 | | with the
determination of income and distributive share of | 4 | | income under Sections 702 and
704 and subchapter S of the | 5 | | Internal Revenue Code. | 6 | | For purposes of this subsection, "qualifying expenditures" | 7 | | means the
qualifying expenditures as defined for the federal | 8 | | credit for increasing
research activities which would be | 9 | | allowable under Section 41 of the
Internal Revenue Code and | 10 | | which are conducted in this State, "qualifying
expenditures for | 11 | | increasing research activities in this State" means the
excess | 12 | | of qualifying expenditures for the taxable year in which | 13 | | incurred
over qualifying expenditures for the base period, | 14 | | "qualifying expenditures
for the base period" means the average | 15 | | of the qualifying expenditures for
each year in the base | 16 | | period, and "base period" means the 3 taxable years
immediately | 17 | | preceding the taxable year for which the determination is
being | 18 | | made. | 19 | | Any credit in excess of the tax liability for the taxable | 20 | | year
may be carried forward. A taxpayer may elect to have the
| 21 | | unused credit shown on its final completed return carried over | 22 | | as a credit
against the tax liability for the following 5 | 23 | | taxable years or until it has
been fully used, whichever occurs | 24 | | first; provided that no credit earned in a tax year ending | 25 | | prior to December 31, 2003 may be carried forward to any year | 26 | | ending on or after December 31, 2003. |
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| 1 | | If an unused credit is carried forward to a given year from | 2 | | 2 or more
earlier years, that credit arising in the earliest | 3 | | year will be applied
first against the tax liability for the | 4 | | given year. If a tax liability for
the given year still | 5 | | remains, the credit from the next earliest year will
then be | 6 | | applied, and so on, until all credits have been used or no tax
| 7 | | liability for the given year remains. Any remaining unused | 8 | | credit or
credits then will be carried forward to the next | 9 | | following year in which a
tax liability is incurred, except | 10 | | that no credit can be carried forward to
a year which is more | 11 | | than 5 years after the year in which the expense for
which the | 12 | | credit is given was incurred. | 13 | | No inference shall be drawn from this amendatory Act of the | 14 | | 91st General
Assembly in construing this Section for taxable | 15 | | years beginning before January
1, 1999. | 16 | | It is the intent of the General Assembly that the research | 17 | | and development credit under this subsection (k) shall apply | 18 | | continuously for all tax years ending on or after December 31, | 19 | | 2004 and ending prior to January 1, 2022, including, but not | 20 | | limited to, the period beginning on January 1, 2016 and ending | 21 | | on the effective date of this amendatory Act of the 100th | 22 | | General Assembly. All actions taken in reliance on the | 23 | | continuation of the credit under this subsection (k) by any | 24 | | taxpayer are hereby validated. | 25 | | (l) Environmental Remediation Tax Credit. | 26 | | (i) For tax years ending after December 31, 1997 and on |
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| 1 | | or before
December 31, 2001, a taxpayer shall be allowed a | 2 | | credit against the tax
imposed by subsections (a) and (b) | 3 | | of this Section for certain amounts paid
for unreimbursed | 4 | | eligible remediation costs, as specified in this | 5 | | subsection.
For purposes of this Section, "unreimbursed | 6 | | eligible remediation costs" means
costs approved by the | 7 | | Illinois Environmental Protection Agency ("Agency") under
| 8 | | Section 58.14 of the Environmental Protection Act that were | 9 | | paid in performing
environmental remediation at a site for | 10 | | which a No Further Remediation Letter
was issued by the | 11 | | Agency and recorded under Section 58.10 of the | 12 | | Environmental
Protection Act. The credit must be claimed | 13 | | for the taxable year in which
Agency approval of the | 14 | | eligible remediation costs is granted. The credit is
not | 15 | | available to any taxpayer if the taxpayer or any related | 16 | | party caused or
contributed to, in any material respect, a | 17 | | release of regulated substances on,
in, or under the site | 18 | | that was identified and addressed by the remedial
action | 19 | | pursuant to the Site Remediation Program of the | 20 | | Environmental Protection
Act. After the Pollution Control | 21 | | Board rules are adopted pursuant to the
Illinois | 22 | | Administrative Procedure Act for the administration and | 23 | | enforcement of
Section 58.9 of the Environmental | 24 | | Protection Act, determinations as to credit
availability | 25 | | for purposes of this Section shall be made consistent with | 26 | | those
rules. For purposes of this Section, "taxpayer" |
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| 1 | | includes a person whose tax
attributes the taxpayer has | 2 | | succeeded to under Section 381 of the Internal
Revenue Code | 3 | | and "related party" includes the persons disallowed a | 4 | | deduction
for losses by paragraphs (b), (c), and (f)(1) of | 5 | | Section 267 of the Internal
Revenue Code by virtue of being | 6 | | a related taxpayer, as well as any of its
partners. The | 7 | | credit allowed against the tax imposed by subsections (a) | 8 | | and
(b) shall be equal to 25% of the unreimbursed eligible | 9 | | remediation costs in
excess of $100,000 per site, except | 10 | | that the $100,000 threshold shall not apply
to any site | 11 | | contained in an enterprise zone as determined by the | 12 | | Department of
Commerce and Community Affairs (now | 13 | | Department of Commerce and Economic Opportunity). The | 14 | | total credit allowed shall not exceed
$40,000 per year with | 15 | | a maximum total of $150,000 per site. For partners and
| 16 | | shareholders of subchapter S corporations, there shall be | 17 | | allowed a credit
under this subsection to be determined in | 18 | | accordance with the determination of
income and | 19 | | distributive share of income under Sections 702 and 704 and
| 20 | | subchapter S of the Internal Revenue Code. | 21 | | (ii) A credit allowed under this subsection that is | 22 | | unused in the year
the credit is earned may be carried | 23 | | forward to each of the 5 taxable years
following the year | 24 | | for which the credit is first earned until it is used.
The | 25 | | term "unused credit" does not include any amounts of | 26 | | unreimbursed eligible
remediation costs in excess of the |
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| 1 | | maximum credit per site authorized under
paragraph (i). | 2 | | This credit shall be applied first to the earliest year
for | 3 | | which there is a liability. If there is a credit under this | 4 | | subsection
from more than one tax year that is available to | 5 | | offset a liability, the
earliest credit arising under this | 6 | | subsection shall be applied first. A
credit allowed under | 7 | | this subsection may be sold to a buyer as part of a sale
of | 8 | | all or part of the remediation site for which the credit | 9 | | was granted. The
purchaser of a remediation site and the | 10 | | tax credit shall succeed to the unused
credit and remaining | 11 | | carry-forward period of the seller. To perfect the
| 12 | | transfer, the assignor shall record the transfer in the | 13 | | chain of title for the
site and provide written notice to | 14 | | the Director of the Illinois Department of
Revenue of the | 15 | | assignor's intent to sell the remediation site and the | 16 | | amount of
the tax credit to be transferred as a portion of | 17 | | the sale. In no event may a
credit be transferred to any | 18 | | taxpayer if the taxpayer or a related party would
not be | 19 | | eligible under the provisions of subsection (i). | 20 | | (iii) For purposes of this Section, the term "site" | 21 | | shall have the same
meaning as under Section 58.2 of the | 22 | | Environmental Protection Act. | 23 | | (m) Education expense credit. Beginning with tax years | 24 | | ending after
December 31, 1999, a taxpayer who
is the custodian | 25 | | of one or more qualifying pupils shall be allowed a credit
| 26 | | against the tax imposed by subsections (a) and (b) of this |
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| 1 | | Section for
qualified education expenses incurred on behalf of | 2 | | the qualifying pupils.
The credit shall be equal to 25% of | 3 | | qualified education expenses, but in no
event may the total | 4 | | credit under this subsection claimed by a
family that is the
| 5 | | custodian of qualifying pupils exceed (i) $500 for tax years | 6 | | ending prior to December 31, 2017, and (ii) $750 for tax years | 7 | | ending on or after December 31, 2017. In no event shall a | 8 | | credit under
this subsection reduce the taxpayer's liability | 9 | | under this Act to less than
zero. Notwithstanding any other | 10 | | provision of law, for taxable years beginning on or after | 11 | | January 1, 2017, no taxpayer may claim a credit under this | 12 | | subsection (m) if the taxpayer's adjusted gross income for the | 13 | | taxable year exceeds (i) $500,000, in the case of spouses | 14 | | filing a joint federal tax return or (ii) $250,000, in the case | 15 | | of all other taxpayers. This subsection is exempt from the | 16 | | provisions of Section 250 of this
Act. | 17 | | For purposes of this subsection: | 18 | | "Qualifying pupils" means individuals who (i) are | 19 | | residents of the State of
Illinois, (ii) are under the age of | 20 | | 21 at the close of the school year for
which a credit is | 21 | | sought, and (iii) during the school year for which a credit
is | 22 | | sought were full-time pupils enrolled in a kindergarten through | 23 | | twelfth
grade education program at any school, as defined in | 24 | | this subsection. | 25 | | "Qualified education expense" means the amount incurred
on | 26 | | behalf of a qualifying pupil in excess of $250 for tuition, |
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| 1 | | book fees, and
lab fees at the school in which the pupil is | 2 | | enrolled during the regular school
year. | 3 | | "School" means any public or nonpublic elementary or | 4 | | secondary school in
Illinois that is in compliance with Title | 5 | | VI of the Civil Rights Act of 1964
and attendance at which | 6 | | satisfies the requirements of Section 26-1 of the
School Code, | 7 | | except that nothing shall be construed to require a child to
| 8 | | attend any particular public or nonpublic school to qualify for | 9 | | the credit
under this Section. | 10 | | "Custodian" means, with respect to qualifying pupils, an | 11 | | Illinois resident
who is a parent, the parents, a legal | 12 | | guardian, or the legal guardians of the
qualifying pupils. | 13 | | (n) River Edge Redevelopment Zone site remediation tax | 14 | | credit.
| 15 | | (i) For tax years ending on or after December 31, 2006, | 16 | | a taxpayer shall be allowed a credit against the tax | 17 | | imposed by subsections (a) and (b) of this Section for | 18 | | certain amounts paid for unreimbursed eligible remediation | 19 | | costs, as specified in this subsection. For purposes of | 20 | | this Section, "unreimbursed eligible remediation costs" | 21 | | means costs approved by the Illinois Environmental | 22 | | Protection Agency ("Agency") under Section 58.14a of the | 23 | | Environmental Protection Act that were paid in performing | 24 | | environmental remediation at a site within a River Edge | 25 | | Redevelopment Zone for which a No Further Remediation | 26 | | Letter was issued by the Agency and recorded under Section |
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| 1 | | 58.10 of the Environmental Protection Act. The credit must | 2 | | be claimed for the taxable year in which Agency approval of | 3 | | the eligible remediation costs is granted. The credit is | 4 | | not available to any taxpayer if the taxpayer or any | 5 | | related party caused or contributed to, in any material | 6 | | respect, a release of regulated substances on, in, or under | 7 | | the site that was identified and addressed by the remedial | 8 | | action pursuant to the Site Remediation Program of the | 9 | | Environmental Protection Act. Determinations as to credit | 10 | | availability for purposes of this Section shall be made | 11 | | consistent with rules adopted by the Pollution Control | 12 | | Board pursuant to the Illinois Administrative Procedure | 13 | | Act for the administration and enforcement of Section 58.9 | 14 | | of the Environmental Protection Act. For purposes of this | 15 | | Section, "taxpayer" includes a person whose tax attributes | 16 | | the taxpayer has succeeded to under Section 381 of the | 17 | | Internal Revenue Code and "related party" includes the | 18 | | persons disallowed a deduction for losses by paragraphs | 19 | | (b), (c), and (f)(1) of Section 267 of the Internal Revenue | 20 | | Code by virtue of being a related taxpayer, as well as any | 21 | | of its partners. The credit allowed against the tax imposed | 22 | | by subsections (a) and (b) shall be equal to 25% of the | 23 | | unreimbursed eligible remediation costs in excess of | 24 | | $100,000 per site. | 25 | | (ii) A credit allowed under this subsection that is | 26 | | unused in the year the credit is earned may be carried |
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| 1 | | forward to each of the 5 taxable years following the year | 2 | | for which the credit is first earned until it is used. This | 3 | | credit shall be applied first to the earliest year for | 4 | | which there is a liability. If there is a credit under this | 5 | | subsection from more than one tax year that is available to | 6 | | offset a liability, the earliest credit arising under this | 7 | | subsection shall be applied first. A credit allowed under | 8 | | this subsection may be sold to a buyer as part of a sale of | 9 | | all or part of the remediation site for which the credit | 10 | | was granted. The purchaser of a remediation site and the | 11 | | tax credit shall succeed to the unused credit and remaining | 12 | | carry-forward period of the seller. To perfect the | 13 | | transfer, the assignor shall record the transfer in the | 14 | | chain of title for the site and provide written notice to | 15 | | the Director of the Illinois Department of Revenue of the | 16 | | assignor's intent to sell the remediation site and the | 17 | | amount of the tax credit to be transferred as a portion of | 18 | | the sale. In no event may a credit be transferred to any | 19 | | taxpayer if the taxpayer or a related party would not be | 20 | | eligible under the provisions of subsection (i). | 21 | | (iii) For purposes of this Section, the term "site" | 22 | | shall have the same meaning as under Section 58.2 of the | 23 | | Environmental Protection Act. | 24 | | (n-1) HOPE zone site remediation tax credit. | 25 | | (1) For tax years beginning on or after January 1, | 26 | | 2018, a taxpayer shall be allowed a credit against the tax |
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| 1 | | imposed by subsections (a) and (b) of this Section for | 2 | | certain amounts paid for unreimbursed eligible remediation | 3 | | costs, as specified in this subsection. For purposes of | 4 | | this Section, "unreimbursed eligible remediation costs" | 5 | | means costs approved by the Illinois Environmental | 6 | | Protection Agency ("Agency") under Section 58.14a of the | 7 | | Environmental Protection Act that were paid in performing | 8 | | environmental remediation at a site within a HOPE Zone | 9 | | designated under the Community Renewal and Revitalization | 10 | | Act for which a No Further Remediation Letter was issued by | 11 | | the Agency and recorded under Section 58.10 of the | 12 | | Environmental Protection Act. The credit must be claimed | 13 | | for the taxable year in which Agency approval of the | 14 | | eligible remediation costs is granted. The credit is not | 15 | | available to any taxpayer if the taxpayer or any related | 16 | | party caused or contributed to, in any material respect, a | 17 | | release of regulated substances on, in, or under the site | 18 | | that was identified and addressed by the remedial action | 19 | | pursuant to the Site Remediation Program of the | 20 | | Environmental Protection Act. Determinations as to credit | 21 | | availability for purposes of this Section shall be made | 22 | | consistent with rules adopted by the Pollution Control | 23 | | Board pursuant to the Illinois Administrative Procedure | 24 | | Act for the administration and enforcement of Section 58.9 | 25 | | of the Environmental Protection Act. For purposes of this | 26 | | Section, "taxpayer" includes a person whose tax attributes |
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| 1 | | the taxpayer has succeeded to under Section 381 of the | 2 | | Internal Revenue Code and "related party" includes the | 3 | | persons disallowed a deduction for losses by paragraphs | 4 | | (b), (c), and (f)(1) of Section 267 of the Internal Revenue | 5 | | Code by virtue of being a related taxpayer, as well as any | 6 | | of its partners. The credit allowed against the tax imposed | 7 | | by subsections (a) and (b) shall be equal to 25% of the | 8 | | unreimbursed eligible remediation costs in excess of | 9 | | $100,000 per site. | 10 | | (2) A credit allowed under this subsection that is | 11 | | unused in the year the credit is earned may be carried | 12 | | forward to each of the 5 taxable years following the year | 13 | | for which the credit is first earned until it is used. This | 14 | | credit shall be applied first to the earliest year for | 15 | | which there is a liability. If there is a credit under this | 16 | | subsection from more than one tax year that is available to | 17 | | offset a liability, the earliest credit arising under this | 18 | | subsection shall be applied first. A credit allowed under | 19 | | this subsection may be sold to a buyer as part of a sale of | 20 | | all or part of the remediation site for which the credit | 21 | | was granted. The purchaser of a remediation site and the | 22 | | tax credit shall succeed to the unused credit and remaining | 23 | | carry-forward period of the seller. To perfect the | 24 | | transfer, the assignor shall record the transfer in the | 25 | | chain of title for the site and provide written notice to | 26 | | the Director of Revenue of the assignor's intent to sell |
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| 1 | | the remediation site and the amount of the tax credit to be | 2 | | transferred as a portion of the sale. In no event may a | 3 | | credit be transferred to any taxpayer if the taxpayer or a | 4 | | related party would not be eligible under the provisions of | 5 | | subsection (i). | 6 | | (3) For the purposes of this subsection, "HOPE Zone" | 7 | | means an area designated as a HOPE Zone by the Department | 8 | | of Commerce and Economic Opportunity under the Community | 9 | | Renewal and Revitalization Act. | 10 | | (4) The credit under this subsection (n-1) is exempt | 11 | | from the provisions of Section 250. | 12 | | (o) For each of taxable years during the Compassionate Use | 13 | | of Medical Cannabis Pilot Program, a surcharge is imposed on | 14 | | all taxpayers on income arising from the sale or exchange of | 15 | | capital assets, depreciable business property, real property | 16 | | used in the trade or business, and Section 197 intangibles of | 17 | | an organization registrant under the Compassionate Use of | 18 | | Medical Cannabis Pilot Program Act. The amount of the surcharge | 19 | | is equal to the amount of federal income tax liability for the | 20 | | taxable year attributable to those sales and exchanges. The | 21 | | surcharge imposed does not apply if: | 22 | | (1) the medical cannabis cultivation center | 23 | | registration, medical cannabis dispensary registration, or | 24 | | the property of a registration is transferred as a result | 25 | | of any of the following: | 26 | | (A) bankruptcy, a receivership, or a debt |
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| 1 | | adjustment initiated by or against the initial | 2 | | registration or the substantial owners of the initial | 3 | | registration; | 4 | | (B) cancellation, revocation, or termination of | 5 | | any registration by the Illinois Department of Public | 6 | | Health; | 7 | | (C) a determination by the Illinois Department of | 8 | | Public Health that transfer of the registration is in | 9 | | the best interests of Illinois qualifying patients as | 10 | | defined by the Compassionate Use of Medical Cannabis | 11 | | Pilot Program Act; | 12 | | (D) the death of an owner of the equity interest in | 13 | | a registrant; | 14 | | (E) the acquisition of a controlling interest in | 15 | | the stock or substantially all of the assets of a | 16 | | publicly traded company; | 17 | | (F) a transfer by a parent company to a wholly | 18 | | owned subsidiary; or | 19 | | (G) the transfer or sale to or by one person to | 20 | | another person where both persons were initial owners | 21 | | of the registration when the registration was issued; | 22 | | or | 23 | | (2) the cannabis cultivation center registration, | 24 | | medical cannabis dispensary registration, or the | 25 | | controlling interest in a registrant's property is | 26 | | transferred in a transaction to lineal descendants in which |
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| 1 | | no gain or loss is recognized or as a result of a | 2 | | transaction in accordance with Section 351 of the Internal | 3 | | Revenue Code in which no gain or loss is recognized. | 4 | | (Source: P.A. 100-22, eff. 7-6-17.) | 5 | | (35 ILCS 5/216) | 6 | | Sec. 216. Credit for wages paid to ex-felons. | 7 | | (a) For each taxable year beginning on or after January 1, | 8 | | 2007, each taxpayer is entitled to a credit against the tax | 9 | | imposed by subsections (a) and (b) of Section 201 of this Act | 10 | | in an amount equal to 5% of qualified wages paid by the | 11 | | taxpayer during the taxable year to one or more Illinois | 12 | | residents who are qualified ex-offenders. The total credit | 13 | | allowed to a taxpayer with respect to each qualified | 14 | | ex-offender may not exceed $1,500 for all taxable years , except | 15 | | that a taxpayer operating a business in a HOPE Zone under the | 16 | | Community Renewal and Revitalization Act shall be allowed a | 17 | | total credit up to $3,000 with respect to each qualified | 18 | | ex-offender for all taxable years . For partners, shareholders | 19 | | of Subchapter S corporations, and owners of limited liability | 20 | | companies, if the liability company is treated as a partnership | 21 | | for purposes of federal and State income taxation, there shall | 22 | | be allowed a credit under this Section to be determined in | 23 | | accordance with the determination of income and distributive | 24 | | share of income under Sections 702 and 704 and Subchapter S of | 25 | | the Internal Revenue Code. |
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| 1 | | (b) For purposes of this Section, "qualified wages": | 2 | | (1) includes only wages that are subject to federal | 3 | | unemployment tax under Section 3306 of the Internal Revenue | 4 | | Code, without regard to any dollar limitation contained in | 5 | | that Section;
| 6 | | (2) does not include any amounts paid or incurred by an | 7 | | employer for any period to any qualified ex-offender for | 8 | | whom the employer receives federally funded payments for | 9 | | on-the-job training of that qualified ex-offender for that | 10 | | period;
and
| 11 | | (3) includes only wages attributable to service | 12 | | rendered during the one-year period beginning with the day | 13 | | the qualified ex-offender begins work for the employer.
| 14 | | If the taxpayer has received any payment from a program | 15 | | established under Section 482(e)(1) of the federal Social | 16 | | Security Act with respect to a qualified ex-offender, then, for | 17 | | purposes of calculating the credit under this Section, the | 18 | | amount of the qualified wages paid to that qualified | 19 | | ex-offender must be reduced by the amount of the payment.
| 20 | | (c) For purposes of this Section, "qualified ex-offender" | 21 | | means any person who:
| 22 | | (1) has been convicted of a crime in this State or of | 23 | | an offense in any other jurisdiction, not including any | 24 | | offense or attempted offense that would subject a person to | 25 | | registration under the Sex Offender Registration Act; | 26 | | (2) was sentenced to a period of incarceration in an |
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| 1 | | Illinois adult correctional center; and | 2 | | (3) was hired by the taxpayer within 5 3 years after | 3 | | being released from an Illinois adult correctional center. | 4 | | (d) In no event shall a credit under this Section reduce | 5 | | the taxpayer's liability to less than zero. If the amount of | 6 | | the credit exceeds the tax liability for the year, the excess | 7 | | may be carried forward and applied to the tax liability of the | 8 | | 5 taxable years following the excess credit year. The tax | 9 | | credit shall be applied to the earliest year for which there is | 10 | | a tax liability. If there are credits for more than one year | 11 | | that are available to offset a liability, the earlier credit | 12 | | shall be applied first.
| 13 | | (e) This Section is exempt from the provisions of Section | 14 | | 250. | 15 | | (Source: P.A. 98-165, eff. 8-5-13.) | 16 | | (35 ILCS 5/227 new) | 17 | | Sec. 227. Business credit; HOPE Zone. | 18 | | (a) A business that, during the taxable year, maintains | 19 | | operations within a HOPE Zone designated by the Department of | 20 | | Commerce and Economic Opportunity under the Community Renewal | 21 | | and Revitalization Act is entitled to a credit against the | 22 | | taxes imposed under subsections (a) and (b) of Section 201 in | 23 | | an amount equal to 50% of the taxpayer's liability for the | 24 | | taxable year, calculated without regard to the application of | 25 | | this credit. |
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| 1 | | (b) For partners, shareholders of subchapter S | 2 | | corporations, and members of limited liability companies that | 3 | | are treated as partnerships for purposes of federal and State | 4 | | income taxation, there shall be allowed a credit under this | 5 | | subsection to be determined in accordance with the | 6 | | determination of income and distributive share of income under | 7 | | Sections 702 and 704 and subchapter S of the Internal Revenue | 8 | | Code. | 9 | | (c) In no event shall a credit under this Section reduce | 10 | | the taxpayer's liability to less than zero. If the amount of | 11 | | the credit exceeds the tax liability for the year, the excess | 12 | | may be carried forward and applied to the tax liability of the | 13 | | 5 taxable years following the excess credit year. The tax | 14 | | credit shall be applied to the earliest year for which there is | 15 | | a tax liability. If there are credits for more than one year | 16 | | that are available to offset a liability, the earlier credit | 17 | | shall be applied first. | 18 | | (d) This Section is exempt from the provisions of Section | 19 | | 250. | 20 | | (35 ILCS 5/228 new) | 21 | | Sec. 228. Individual credit; HOPE Zone. | 22 | | (a) An individual taxpayer with a principal place of | 23 | | residence within a HOPE Zone designated by the Department of | 24 | | Commerce and Economic Opportunity under the Community Renewal | 25 | | and Revitalization Act is entitled to a credit against the |
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| 1 | | taxes imposed under subsections (a) and (b) of Section 201 in | 2 | | an amount equal to 50% of the taxpayer's liability for the | 3 | | taxable year, calculated without regard to the application of | 4 | | this credit. | 5 | | (b) In no event shall a credit under this Section reduce | 6 | | the taxpayer's liability to less than zero. If the amount of | 7 | | the credit exceeds the tax liability for the year, the excess | 8 | | may be carried forward and applied to the tax liability of the | 9 | | 5 taxable years following the excess credit year. The tax | 10 | | credit shall be applied to the earliest year for which there is | 11 | | a tax liability. If there are credits for more than one year | 12 | | that are available to offset a liability, the earlier credit | 13 | | shall be applied first. | 14 | | (c) This Section is exempt from the provisions of Section | 15 | | 250. | 16 | | Section 905. The Small Business Job Creation Tax Credit Act | 17 | | is amended by changing Sections 25 and 30 as follows: | 18 | | (35 ILCS 25/25)
| 19 | | Sec. 25. Tax credit. | 20 | | (a) Subject to the conditions set forth in this Act, an | 21 | | applicant is entitled to a credit against payment of taxes | 22 | | withheld under Section 704A of the Illinois Income Tax Act: | 23 | | (1) for new employees who participated as | 24 | | worker-trainees in the Put Illinois to Work Program during |
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| 1 | | 2010: | 2 | | (A) in the first calendar year ending on or after | 3 | | the date that is 6 months after December 31, 2010, or | 4 | | the date of hire, whichever is later. Under this | 5 | | subparagraph, the applicant is entitled to one-half of | 6 | | the credit allowable for each new employee who is | 7 | | employed for at least 6 months after the date of hire; | 8 | | and | 9 | | (B) in the first calendar year ending on or after | 10 | | the date that is 12 months after December 31, 2010, or | 11 | | the date of hire, whichever is later. Under this | 12 | | subparagraph, the applicant is entitled to one-half of | 13 | | the credit allowable for each new employee who is | 14 | | employed for at least 12 months after the date of hire; | 15 | | (2) for all other new employees, in the first calendar | 16 | | year ending on or after the date that is 12 months after | 17 | | the date of hire of a new employee. The credit shall be | 18 | | allowed as a credit to an applicant for each full-time | 19 | | employee hired during the incentive period that results in | 20 | | a net increase in full-time Illinois employees, where the | 21 | | net increase in the employer's full-time Illinois | 22 | | employees is maintained for at least 12 months. | 23 | | (b) The Department shall make credit awards under this Act | 24 | | to further job creation. | 25 | | (c) The credit shall be claimed for the first calendar year | 26 | | ending on or after the date on which the certificate is issued |
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| 1 | | by the Department. | 2 | | (d) The credit shall not exceed $2,500 per new employee | 3 | | hired ; however, businesses operating within HOPE Zones under | 4 | | the Community Renewal and Revitalization Act shall be allowed a | 5 | | credit up to $5,000 per new employee hired . | 6 | | (e) The net increase in full-time Illinois employees, | 7 | | measured on an annual full-time equivalent basis, shall be the | 8 | | total number of full-time Illinois employees of the applicant | 9 | | on the final day of the incentive period, minus the number of | 10 | | full-time Illinois employees employed by the employer on the | 11 | | first day of that same incentive period. For purposes of the | 12 | | calculation, an employer that begins doing business in this | 13 | | State during the incentive period, as determined by the | 14 | | Director, shall be treated as having zero Illinois employees on | 15 | | the first day of the incentive period. | 16 | | (f) The net increase in the number of full-time Illinois | 17 | | employees of the applicant under subsection (e) must be | 18 | | sustained continuously for at least 12 months, starting with | 19 | | the date of hire of a new employee during the incentive period. | 20 | | Eligibility for the credit does not depend on the continuous | 21 | | employment of any particular individual. For purposes of this | 22 | | subsection (f), if a new employee ceases to be employed before | 23 | | the completion of the 12-month period for any reason, the net | 24 | | increase in the number of full-time Illinois employees shall be | 25 | | treated as continuous if a different new employee is hired as a | 26 | | replacement within a reasonable time for the same position.
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| 1 | | (g) The Department shall promulgate rules to enable an | 2 | | applicant for which a PEO has been contracted to issue W-2s and | 3 | | make payment of taxes withheld under Section 704A of the | 4 | | Illinois Income Tax Act for new employees to retain the benefit | 5 | | of tax credits to which the applicant is otherwise entitled | 6 | | under this Act. | 7 | | (Source: P.A. 96-888, eff. 4-13-10; 96-1498, eff. 1-18-11; | 8 | | 97-636, eff. 6-1-12; 97-1052, eff. 8-23-12.) | 9 | | (35 ILCS 25/30)
| 10 | | Sec. 30. Maximum amount of credits allowed. The Department | 11 | | shall limit the monetary amount of credits awarded under this | 12 | | Act to no more than $100,000,000 $50,000,000 . If applications | 13 | | for a greater amount are received, credits shall be allowed on | 14 | | a first-come-first-served basis, based on the date on which | 15 | | each properly completed application for a certificate of | 16 | | eligibility is received by the Department. If more than one | 17 | | certificate of eligibility is received on the same day, the | 18 | | credits will be awarded based on the time of submission for | 19 | | that particular day.
| 20 | | (Source: P.A. 96-888, eff. 4-13-10.) | 21 | | Section 910. The Retailers' Occupation Tax Act is amended | 22 | | by changing Section 5k as follows:
| 23 | | (35 ILCS 120/5k) (from Ch. 120, par. 444k)
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| 1 | | Sec. 5k. Building materials exemption; enterprise zone. | 2 | | (a) Each retailer who makes a qualified sale of building
| 3 | | materials
to be incorporated into real estate in a HOPE Zone | 4 | | established under the Community Renewal and Revitalization Act | 5 | | or an enterprise zone
established by a county or municipality | 6 | | under the Illinois Enterprise Zone
Act
by remodeling,
| 7 | | rehabilitation or new construction, may deduct receipts from | 8 | | such sales
when calculating the tax imposed by this Act.
For | 9 | | purposes of this Section, before July 1, 2013, "qualified sale" | 10 | | means a sale of building
materials that will be incorporated | 11 | | into real estate as part of a building
project for which a | 12 | | Certificate of Eligibility for Sales Tax Exemption has been
| 13 | | issued by the administrator of the enterprise zone in which the | 14 | | building
project is located, and on and after July 1, 2013, | 15 | | "qualified sale" means a sale of building materials that will | 16 | | be incorporated into real estate as part of a building project | 17 | | for which an Enterprise Zone Building Materials Exemption | 18 | | Certificate or a HOPE Zone Building Materials Exemption | 19 | | Certificate has been issued to the purchaser by the Department. | 20 | | A construction contractor or other entity shall not make | 21 | | tax-free purchases unless it has an active Exemption | 22 | | Certificate issued by the Department at the time of the | 23 | | purchase. | 24 | | (b) Before July 1, 2013, to document the exemption allowed | 25 | | under this Section, the
retailer must obtain from the purchaser | 26 | | a copy of the Certificate of
Eligibility for Sales Tax |
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| 1 | | Exemption issued by the administrator of the
enterprise zone | 2 | | into which the building materials will be incorporated. On and | 3 | | after July 1, 2013, to document the exemption allowed under | 4 | | this Section, the retailer must obtain from the purchaser the | 5 | | certification required under subsection (c), which must | 6 | | contain the Enterprise Zone Building Materials Exemption | 7 | | Certificate number issued to the purchaser by the Department.
| 8 | | Upon request from the enterprise zone administrator, the | 9 | | Department shall issue an Enterprise Zone Building Materials | 10 | | Exemption Certificate for each construction contractor or | 11 | | other entity identified by the enterprise zone administrator. | 12 | | Upon request from the corporate authorities of the municipality | 13 | | in which a HOPE Zone is located, the Department shall issue a | 14 | | HOPE Zone Building Materials Exemption Certificate for each | 15 | | construction contractor or other entity identified by the | 16 | | corporate authorities. The Department shall make the Exemption | 17 | | Certificates available directly to each enterprise zone | 18 | | administrator, construction contractor, or other entity. The | 19 | | request for Enterprise Zone Building Materials Exemption | 20 | | Certificates from the enterprise zone administrator or the | 21 | | corporate authorities to the Department must include the | 22 | | following information: | 23 | | (1) the name and address of the construction contractor | 24 | | or other entity; | 25 | | (2) the name and number of the enterprise zone or HOPE | 26 | | Zone ; |
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| 1 | | (3) the name and location or address of the building | 2 | | project in the enterprise zone or HOPE Zone ; | 3 | | (4) the estimated amount of the exemption for each | 4 | | construction contractor or other entity for which a request | 5 | | for Exemption Certificate is made, based on a stated | 6 | | estimated average tax rate and the percentage of the | 7 | | contract that consists of materials; | 8 | | (5) the period of time over which supplies for the | 9 | | project are expected to be purchased; and | 10 | | (6) other reasonable information as the Department may | 11 | | require, including, but not limited to FEIN numbers, to | 12 | | determine if the contractor or other entity, or any | 13 | | partner, or a corporate officer, and in the case of a | 14 | | limited liability company, any manager or member, of the | 15 | | construction contractor or other entity, is or has been the | 16 | | owner, a partner, a corporate officer, and in the case of a | 17 | | limited liability company, a manager or member, of a person | 18 | | that is in default for moneys due to the Department under | 19 | | this Act or any other tax or fee Act administered by the | 20 | | Department. | 21 | | The Department shall issue the Enterprise Zone Building | 22 | | Materials Exemption Certificates within 3 business days after | 23 | | receipt of request from the zone administrator or corporate | 24 | | authorities . This requirement does not apply in circumstances | 25 | | where the Department, for reasonable cause, is unable to issue | 26 | | the Exemption Certificate within 3 business days. The |
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| 1 | | Department may refuse to issue an Exemption Certificate if the | 2 | | owner, any partner, or a corporate officer, and in the case of | 3 | | a limited liability company, any manager or member, of the | 4 | | construction contractor or other entity is or has been the | 5 | | owner, a partner, a corporate officer, and in the case of a | 6 | | limited liability company, a manager or member, of a person | 7 | | that is in default for moneys due to the Department under this | 8 | | Act or any other tax or fee Act administered by the Department. | 9 | | The Enterprise Zone Building Materials Exemption Certificate | 10 | | shall contain language stating that if the construction | 11 | | contractor or other entity who is issued the Exemption | 12 | | Certificate makes a tax-exempt purchase, as described in this | 13 | | Section, that is not eligible for exemption under this Section | 14 | | or allows another person to make a tax-exempt purchase, as | 15 | | described in this Section, that is not eligible for exemption | 16 | | under this Section, then, in addition to any tax or other | 17 | | penalty imposed, the construction contractor or other entity is | 18 | | subject to a penalty equal to the tax that would have been paid | 19 | | by the retailer under this Act as well as any applicable local | 20 | | retailers' occupation tax on the purchase that is not eligible | 21 | | for the exemption. | 22 | | The Department, in its discretion, may require that | 23 | | requests the request for Enterprise Zone Building Materials | 24 | | Exemption Certificates be submitted electronically. The | 25 | | Department may, in its discretion, issue the Exemption | 26 | | Certificates electronically. The Enterprise Zone Building |
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| 1 | | Materials Exemption Certificate number shall be designed in | 2 | | such a way that the Department can identify from the unique | 3 | | number on the Exemption Certificate issued to a given | 4 | | construction contractor or other entity, the name of the | 5 | | Enterprise Zone or HOPE Zone , the project for which the | 6 | | Exemption Certificate is issued, and the construction | 7 | | contractor or other entity to whom the Exemption Certificate is | 8 | | issued. The Exemption Certificate shall contain an expiration | 9 | | date, which shall be no more than 2 years after the date of | 10 | | issuance. At the request of the zone administrator, the | 11 | | Department may renew an Exemption Certificate. After the | 12 | | Department issues Exemption Certificates for a given | 13 | | enterprise zone project, the enterprise zone administrator or | 14 | | corporate authorities may notify the Department of additional | 15 | | construction contractors or other entities eligible for an | 16 | | Enterprise Zone Building Materials Exemption Certificate. Upon | 17 | | notification by the enterprise zone administrator or corporate | 18 | | authorities and subject to the other provisions of this | 19 | | subsection (b), the Department shall issue an Enterprise Zone | 20 | | Building Materials Exemption Certificate to each additional | 21 | | construction contractor or other entity identified by the | 22 | | enterprise zone administrator or corporate authorities . An | 23 | | enterprise zone administrator may notify the Department to | 24 | | rescind an Enterprise Zone Building Materials Exemption | 25 | | Certificate previously issued by the Department but that has | 26 | | not yet expired ; the corporate authorities of the municipality |
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| 1 | | may notify the Department to rescind a HOPE Zone Building | 2 | | Materials Exemption Certificate previously issued by the | 3 | | Department but that has not yet expired . Upon such notification | 4 | | by the enterprise zone administrator and subject to the other | 5 | | provisions of this subsection (b), the Department shall issue | 6 | | the rescission of the Enterprise Zone Building Materials | 7 | | Exemption Certificate to the construction contractor or other | 8 | | entity identified by the enterprise zone administrator or | 9 | | corporate authorities and provide a copy to the enterprise zone | 10 | | administrator or corporate authorities . | 11 | | If the Department of Revenue determines that a construction | 12 | | contractor or other entity that was issued an Exemption | 13 | | Certificate under this subsection (b) made a tax-exempt | 14 | | purchase, as described in this Section, that was not eligible | 15 | | for exemption under this Section or allowed another person to | 16 | | make a tax-exempt purchase, as described in this Section, that | 17 | | was not eligible for exemption under this Section, then, in | 18 | | addition to any tax or other penalty imposed, the construction | 19 | | contractor or other entity is subject to a penalty equal to the | 20 | | tax that would have been paid by the retailer under this Act as | 21 | | well as any applicable local retailers' occupation tax on the | 22 | | purchase that was not eligible for the exemption.
| 23 | | (c) In addition, the retailer must obtain certification | 24 | | from the purchaser that
contains:
| 25 | | (1) a statement that the building materials are being | 26 | | purchased for
incorporation into real estate located in an |
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| 1 | | Illinois enterprise zone or HOPE Zone ;
| 2 | | (2) the location or address of the real estate into | 3 | | which the building
materials will be incorporated;
| 4 | | (3) the name of the enterprise zone in which that real | 5 | | estate is located;
| 6 | | (4) a description of the building materials being | 7 | | purchased;
| 8 | | (5) on and after July 1, 2013, the purchaser's | 9 | | Enterprise Zone Building Materials Exemption Certificate | 10 | | number issued by the Department; and | 11 | | (6) the purchaser's signature and date of purchase.
| 12 | | (d) The deduction allowed by
this Section for the sale of | 13 | | building materials may be limited, to the
extent authorized by | 14 | | ordinance, adopted after the effective date of this
amendatory | 15 | | Act of 1992, by the municipality or county that created the
| 16 | | enterprise zone
into which the
building materials will be | 17 | | incorporated.
The ordinance, however, may neither require nor | 18 | | prohibit the purchase of
building materials from any retailer | 19 | | or class of retailers in order to qualify
for the exemption | 20 | | allowed under this Section. The provisions of this Section
are | 21 | | exempt from Section
2-70.
| 22 | | (e) Notwithstanding anything to the contrary in this | 23 | | Section, for enterprise zone projects already in existence and | 24 | | for which construction contracts are already in place on July | 25 | | 1, 2013, the request for Enterprise Zone Building Materials | 26 | | Exemption Certificates from the enterprise zone administrator |
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| 1 | | to the Department for these pre-existing construction | 2 | | contractors and other entities must include the information | 3 | | required under subsection (b), but not including the | 4 | | information listed in items (4) and (5). For any new | 5 | | construction contract entered into on or after July 1, 2013, | 6 | | however, all of the information in subsection (b) must be | 7 | | provided. | 8 | | (Source: P.A. 97-905, eff. 8-7-12; 98-109, eff. 7-25-13.)
| 9 | | Section 915. The Environmental Protection Act is amended by | 10 | | changing Section 58.14a as follows: | 11 | | (415 ILCS 5/58.14a) | 12 | | Sec. 58.14a. River Edge Redevelopment Zone Site | 13 | | Remediation Tax Credit Review. | 14 | | (a) Prior to applying for the River Edge Redevelopment Zone | 15 | | site remediation tax credit under subsection (n) of Section 201 | 16 | | of the Illinois Income Tax Act or a HOPE Zone site remediation | 17 | | tax credit under subsection (n-1) of Section 201 of the | 18 | | Illinois Income Tax Act , a Remediation Applicant must first | 19 | | submit to the Agency an application for review of remediation | 20 | | costs. The Agency shall review the application in consultation | 21 | | with the Department of Commerce and Economic Opportunity. The | 22 | | application and review process must be conducted in accordance | 23 | | with the requirements of this Section and the rules adopted | 24 | | under subsection (g). A preliminary review of the estimated |
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| 1 | | remediation costs for development and implementation of the | 2 | | Remedial Action Plan may be obtained in accordance with | 3 | | subsection (d). | 4 | | (b) No application for review may be submitted until a No | 5 | | Further Remediation Letter has been issued by the Agency and | 6 | | recorded in the chain of title for the site in accordance with | 7 | | Section 58.10. The Agency shall review the application to | 8 | | determine whether the costs submitted are remediation costs and | 9 | | whether the costs incurred are reasonable. The application must | 10 | | be on forms prescribed and provided by the Agency. At a | 11 | | minimum, the application must include the following: | 12 | | (1) information identifying the Remediation Applicant, | 13 | | the site for which the tax credit is being sought, and the | 14 | | date of acceptance of the site into the Site Remediation | 15 | | Program; | 16 | | (2) a copy of the No Further Remediation Letter with | 17 | | official verification that the letter has been recorded in | 18 | | the chain of title for the site and a demonstration that | 19 | | the site for which the application is submitted is the same | 20 | | site as the one for which the No Further Remediation Letter | 21 | | is issued; | 22 | | (3) a demonstration that the release of the regulated | 23 | | substances of concern for which the No Further Remediation | 24 | | Letter was issued were not caused or contributed to in any | 25 | | material respect by the Remediation Applicant. | 26 | | Determinations as to credit availability shall be made |
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| 1 | | consistent with the Pollution Control Board rules for the | 2 | | administration and enforcement of Section 58.9 of this Act; | 3 | | (4) an itemization and documentation, including | 4 | | receipts, of the remediation costs incurred; | 5 | | (5) a demonstration that the costs incurred are | 6 | | remediation costs as defined in this Act and its rules; | 7 | | (6) a demonstration that the costs submitted for review | 8 | | were incurred by the Remediation Applicant who received the | 9 | | No Further Remediation Letter; | 10 | | (7) an application fee in the amount set forth in | 11 | | subsection (e) for each site for which review of | 12 | | remediation costs is requested and, if applicable, | 13 | | certification from the Department of Commerce and Economic | 14 | | Opportunity that the site is located in a River Edge | 15 | | Redevelopment Zone or a HOPE Zone ; and | 16 | | (8) any other information deemed appropriate by the | 17 | | Agency. | 18 | | (c) Within 60 days after receipt by the Agency of an | 19 | | application meeting the requirements of subsection (b), the | 20 | | Agency shall issue a letter to the applicant approving, | 21 | | disapproving, or modifying the remediation costs submitted in | 22 | | the application. If the remediation costs are approved as | 23 | | submitted, then the Agency's letter must state the amount of | 24 | | the remediation costs to be applied toward the River Edge | 25 | | Redevelopment Zone site remediation tax credit. If an | 26 | | application is disapproved or approved with modification of |
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| 1 | | remediation costs, then the Agency's letter must set forth the | 2 | | reasons for the disapproval or modification and must state the | 3 | | amount of the remediation costs, if any, to be applied toward | 4 | | the River Edge Redevelopment Zone site remediation tax credit. | 5 | | If a preliminary review of a budget plan has been obtained | 6 | | under subsection (d), then the Remediation Applicant may | 7 | | submit, with the application and supporting documentation | 8 | | under subsection (b), a copy of the Agency's final | 9 | | determination accompanied by a certification that the actual | 10 | | remediation costs incurred for the development and | 11 | | implementation of the Remedial Action Plan are equal to or less | 12 | | than the costs approved in the Agency's final determination on | 13 | | the budget plan. The certification must be signed by the | 14 | | Remediation Applicant and notarized. Based on that submission, | 15 | | the Agency is not required to conduct further review of the | 16 | | costs incurred for development and implementation of the | 17 | | Remedial Action Plan, and it may approve the costs as | 18 | | submitted.
Within 35 days after the receipt of an Agency letter | 19 | | disapproving or modifying an application for approval of | 20 | | remediation costs, the Remediation Applicant may appeal the | 21 | | Agency's decision to the Board in the manner provided for the | 22 | | review of permits under Section 40 of this Act. | 23 | | (d) A Remediation Applicant may obtain a preliminary review | 24 | | of estimated remediation costs for the development and | 25 | | implementation of the Remedial Action Plan by submitting a | 26 | | budget plan along with the Remedial Action Plan. The budget |
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| 1 | | plan must be set forth on forms prescribed and provided by the | 2 | | Agency and must include, without limitation, line-item | 3 | | estimates of the costs associated with each line item (such as | 4 | | personnel, equipment, and materials) that the Remediation | 5 | | Applicant anticipates will be incurred for the development and | 6 | | implementation of the Remedial Action Plan. The Agency shall | 7 | | review the budget plan along with the Remedial Action Plan to | 8 | | determine whether the estimated costs submitted are | 9 | | remediation costs and whether the costs estimated for the | 10 | | activities are reasonable. | 11 | | If the Remedial Action Plan is amended by the Remediation | 12 | | Applicant or as a result of Agency action, then the | 13 | | corresponding budget plan must be revised accordingly and | 14 | | resubmitted for Agency review. | 15 | | The budget plan must be accompanied by the applicable fee | 16 | | as set forth in subsection (e). | 17 | | The submittal of a budget plan is deemed to be an automatic | 18 | | 60-day waiver of the Remedial Action Plan review deadlines set | 19 | | forth in this Section and its rules. | 20 | | Within the applicable period of review, the Agency shall | 21 | | issue a letter to the Remediation Applicant approving, | 22 | | disapproving, or modifying the estimated remediation costs | 23 | | submitted in the budget plan. If a budget plan is disapproved | 24 | | or approved with modification of estimated remediation costs, | 25 | | then the Agency's letter must set forth the reasons for the | 26 | | disapproval or modification. |
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| 1 | | Within 35 days after receipt of an Agency letter | 2 | | disapproving or modifying a budget plan, the Remediation | 3 | | Applicant may appeal the Agency's decision to the Board in the | 4 | | manner provided for the review of permits under Section 40 of | 5 | | this Act. | 6 | | (e) Any fee for a review conducted under this Section is in | 7 | | addition to any other fees or payments for Agency services | 8 | | rendered under the Site Remediation Program. The fees under | 9 | | this Section are as follows: | 10 | | (1) the fee for an application for review of | 11 | | remediation costs is $250 for each site reviewed; and | 12 | | (2) there is no fee for the review of the budget plan | 13 | | submitted under subsection (d). | 14 | | The application fee must be made payable to the State of | 15 | | Illinois, for deposit into the Hazardous Waste Fund.
Pursuant | 16 | | to appropriation, the Agency shall use the fees collected under | 17 | | this subsection for development and administration of the | 18 | | review program. | 19 | | (f) The Agency has the authority to enter into any | 20 | | contracts or agreements that may be necessary to carry out its | 21 | | duties and responsibilities under this Section. | 22 | | (g) The Agency shall adopt rules prescribing procedures and | 23 | | standards for its administration of this Section. Prior to the
| 24 | | effective date of rules adopted under this Section, the Agency | 25 | | may conduct reviews of applications under this Section. The | 26 | | Agency may publish informal guidelines concerning this Section |
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| 1 | | to provide guidance.
| 2 | | (Source: P.A. 95-454, eff. 8-27-07.)
| 3 | | Section 999. Effective date. This Act takes effect upon | 4 | | becoming law.".
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