Full Text of HR0381 101st General Assembly
HR0381 101ST GENERAL ASSEMBLY |
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| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, The Economic Development for a Growing Economy | 3 | | (EDGE) Tax Credit Program
is an economic development tool | 4 | | operated by the Illinois Department of Commerce and
Economic | 5 | | Opportunity; and
| 6 | | WHEREAS, The EDGE Tax Credit Program is a targeted | 7 | | incentive program that provides tax
credits for businesses that | 8 | | create new full-time jobs, retain existing full-time jobs, and | 9 | | make
capital investments in Illinois; and
| 10 | | WHEREAS, The EDGE Tax Credit Program is designed to help | 11 | | areas of Illinois that are in
direct competition with other | 12 | | states for jobs and development; and
| 13 | | WHEREAS, According to the 2017 EDGE Annual Report, since | 14 | | 1999 nearly $1.7 billion in tax
credits have been issued, | 15 | | 41,238 jobs were reported to have been created, and 46,160 jobs | 16 | | were
reported to have been retained; and
| 17 | | WHEREAS, According to the FY17 Comprehensive Annual | 18 | | Financial Report, the State of
Illinois abated income taxes | 19 | | totaling approximately $179.1 million through the EDGE program
| 20 | | for FY17; and
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| 1 | | WHEREAS, Public Act 100-511 made significant changes to and | 2 | | extended the EDGE Tax
Credit Program; therefore, be it
| 3 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | 4 | | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 5 | | the Auditor General is directed to conduct a performance audit
| 6 | | of the Department of Commerce and Economic Opportunity's | 7 | | Economic Development for a
Growing Economy (EDGE) Tax Credit | 8 | | Program; and be it further | 9 | | RESOLVED, That the performance audit shall include, but not | 10 | | be limited to, the following
determinations: | 11 | | (1) Whether the Department is administering the EDGE | 12 | | program in accordance with
applicable laws, rules, | 13 | | policies, and procedures; | 14 | | (2) Whether the Department is adequately monitoring | 15 | | EDGE recipients; | 16 | | (3) Whether the Department has implemented the changes | 17 | | required under Public Act 100-
511; | 18 | | (4) Whether the Department is regularly assessing the | 19 | | effectiveness of the EDGE program;
and | 20 | | (5) Whether the EDGE tax incentives in Illinois are | 21 | | similar to programs in surrounding
states; and be it | 22 | | further | 23 | | RESOLVED, That the audit include an analysis of the amount |
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| 1 | | of tax credits approved and the number of jobs created or | 2 | | retained; and be it further
| 3 | | RESOLVED, That the Department of Commerce and Economic | 4 | | Opportunity cooperate fully and
promptly with the Auditor | 5 | | General in the conduct of this audit; and be it further | 6 | | RESOLVED, That the Auditor General commence this audit as | 7 | | soon as possible and submit his
report, including his findings | 8 | | and recommendations, upon completion in accordance with the
| 9 | | provisions of Section 3-14 of the Illinois State Auditing Act; | 10 | | and be it further | 11 | | RESOLVED, That a copy of this resolution be delivered to | 12 | | the Auditor General and the
Department of Commerce and Economic | 13 | | Opportunity.
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