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(35 ILCS 10/5-25)
Sec. 5-25. Review of Application.
(a) (Blank).
(b) The Department shall determine which projects will benefit the State. In making its recommendation that
an Applicant's application for Credit should or should not be accepted, which
shall occur
within a reasonable time frame
as determined by the nature of the application, the Department shall determine
that
all the following conditions
exist:
(1) The Applicant's project intends, as required by |
| subsection (b) of Section 5-20 to make the required investment in the State and intends to hire the required number of New Employees in Illinois as a result of that project.
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(2) The Applicant's project is economically sound and
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| will benefit the people of the State of Illinois by increasing opportunities for employment and strengthen the economy of Illinois.
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(3) The Applicant has certified that, if not for the
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| Credit, the project would not occur in Illinois.
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(4) A cost differential is identified, using best
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| available data, in the projected costs for the Applicant's project compared to the costs in the competing state, including the impact of the competing state's incentive programs. The competing state's incentive programs shall include state, local, private, and federal funds available. This paragraph (4) applies only to agreements entered into before the effective date of this amendatory Act of the 102nd General Assembly.
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(5) The political subdivisions affected by the
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| project have committed local incentives with respect to the project, considering local ability to assist.
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(6) Awarding the Credit will result in an overall
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| positive fiscal impact to the State, as certified by the Department using the best available data.
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(7) The Credit is not prohibited by Section 5-35 of
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(Source: P.A. 102-330, eff. 1-1-22; 102-1125, eff. 2-3-23.)
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