(35 ILCS 17/10-50)
Sec. 10-50. Live theater tax credit award program evaluation and reports. (a) The Department's live theater tax credit award evaluation must include: (i) an assessment of the effectiveness of the program |
| in creating and retaining new jobs in Illinois;
|
|
(ii) an assessment of the revenue impact of the
|
|
(iii) in the discretion of the Department, a review
|
| of the practices and experiences of other states or nations with similar programs; and
|
|
(iv) an assessment of the overall success of the
|
| program. The Department may make a recommendation to extend, modify, or not extend the program based on the evaluation.
|
|
(b) At the end of each fiscal quarter, the Department shall submit to the General Assembly a report that includes, without limitation:
(i) an assessment of the economic impact of the
|
| program, including the number of jobs created and retained, and whether the job positions are entry level, management, vendor, or production related;
|
|
(ii) the amount of accredited theater production
|
| spending brought to Illinois, including the amount of spending and type of Illinois vendors hired in connection with an accredited theater production; and
|
|
(iii) a determination of whether those receiving
|
| qualifying Illinois labor expenditure salaries or wages reflect the geographical, racial and ethnic, gender, and income level diversity of the State of Illinois.
|
|
(c) At the end of each fiscal year, the Department shall submit to the General Assembly a report that includes, without limitation:
(i) the identification of each vendor that provided
|
| goods or services that were included in an accredited theater production's Illinois production spending;
|
|
(ii) a statement of the amount paid to each
|
| identified vendor by the accredited theater production and whether the vendor is a minority-owned or women-owned business as defined in Section 2 of the Business Enterprise for Minorities, Women, and Persons with Disabilities Act; and
|
|
(iii) a description of the steps taken by the
|
| Department to encourage accredited theater productions to use vendors who are minority-owned or women-owned businesses.
|
|
(Source: P.A. 100-391, eff. 8-25-17.)
|