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(415 ILCS 5/58.14)
Environmental Remediation Tax Credit review.
(a) Prior to applying for the Environmental Remediation Tax Credit under
Section 201 of the Illinois Income Tax Act, Remediation Applicants shall first
submit to the Agency an application for review of remediation costs. The
application and review process shall be conducted in
accordance with the requirements of this Section and the rules
subsection (g). A preliminary review of the estimated remediation costs for
development and implementation of the Remedial Action Plan may be obtained in
accordance with subsection (d).
application for review shall be submitted until a No Further Remediation Letter
has been issued by the Agency and recorded in the chain of title for the site
in accordance with Section 58.10. The Agency shall review the application to
determine whether the costs submitted are remediation costs, and whether the
costs incurred are reasonable. The application shall be on forms prescribed
and provided by the Agency. At a minimum, the application shall include the
(1) information identifying the Remediation Applicant
and the site for which the tax credit is being sought and the date of acceptance of the site into the Site Remediation Program;
(2) a copy of the No Further Remediation Letter with
official verification that the letter has been recorded in the chain of title for the site and a demonstration that the site for which the application is submitted is the same site as the one for which the No Further Remediation Letter is issued;
(3) a demonstration that the release of the regulated
substances of concern for which the No Further Remediation Letter was issued were not caused or contributed to in any material respect by the Remediation Applicant. After the Pollution Control Board rules are adopted pursuant to the Illinois Administrative Procedure Act for the administration and enforcement of Section 58.9 of the Environmental Protection Act, determinations as to credit availability shall be made consistent with those rules;
(4) an itemization and documentation, including
receipts, of the remediation costs incurred;
(5) a demonstration that the costs incurred are
remediation costs as defined in this Act and its rules;
(6) a demonstration that the costs submitted for
review were incurred by the Remediation Applicant who received the No Further Remediation Letter;
(7) an application fee in the amount set forth in
subsection (e) for each site for which review of remediation costs is requested and, if applicable, certification from the Department of Commerce and Economic Opportunity that the site is located in an enterprise zone;
(8) any other information deemed appropriate by the
(c) Within 60 days after receipt by the Agency of an application meeting
the requirements of subsection (b), the Agency shall issue a letter to the
applicant approving, disapproving, or modifying the remediation costs submitted
application. If the remediation costs are approved as submitted, the Agency's
letter shall state the amount of the remediation costs to be applied toward the
Environmental Remediation Tax Credit. If an application is disapproved or
approved with modification of remediation costs, the Agency's letter shall set
forth the reasons for the disapproval or modification and state the amount of
the remediation costs, if any, to be applied toward the Environmental
Remediation Tax Credit.
If a preliminary review of a budget plan has been obtained under
subsection (d), the Remediation Applicant may submit, with the
application and supporting documentation under subsection (b), a copy of the
Agency's final determination accompanied by a certification that the actual
remediation costs incurred for the development and implementation of the
Remedial Action Plan are equal to or less than the costs approved in the
Agency's final determination on the budget plan. The certification shall be
signed by the Remediation Applicant and notarized. Based on that submission,
the Agency shall not be required to conduct further review of the costs
incurred for development and implementation of the Remedial Action Plan and may
approve costs as submitted.
Within 35 days after receipt of an Agency letter disapproving or
modifying an application for approval of remediation costs, the Remediation
Applicant may appeal the Agency's decision to the Board in the manner provided
for the review of permits in Section 40 of this Act.
(d) (1) A Remediation Applicant may obtain a preliminary
review of estimated remediation costs for the development and implementation of the Remedial Action Plan by submitting a budget plan along with the Remedial Action Plan. The budget plan shall be set forth on forms prescribed and provided by the Agency and shall include but shall not be limited to line item estimates of the costs associated with each line item (such as personnel, equipment, and materials) that the Remediation Applicant anticipates will be incurred for the development and implementation of the Remedial Action Plan. The Agency shall review the budget plan along with the Remedial Action Plan to determine whether the estimated costs submitted are remediation costs and whether the costs estimated for the activities are reasonable.
(2) If the Remedial Action Plan is amended by the
Remediation Applicant or as a result of Agency action, the corresponding budget plan shall be revised accordingly and resubmitted for Agency review.
(3) The budget plan shall be accompanied by the
applicable fee as set forth in subsection (e).
(4) Submittal of a budget plan shall be deemed an
automatic 60-day waiver of the Remedial Action Plan review deadlines set forth in this Section and its rules.
(5) Within the applicable period of review, the
Agency shall issue a letter to the Remediation Applicant approving, disapproving, or modifying the estimated remediation costs submitted in the budget plan. If a budget plan is disapproved or approved with modification of estimated remediation costs, the Agency's letter shall set forth the reasons for the disapproval or modification.
(6) Within 35 days after receipt of an Agency letter
disapproving or modifying a budget plan, the Remediation Applicant may appeal the Agency's decision to the Board in the manner provided for the review of permits in Section 40 of this Act.
(e) The fees for reviews conducted under this Section are in addition to any
other fees or payments for Agency services rendered pursuant to the Site
and shall be as follows:
(1) The fee for an application for review of
remediation costs shall be $1,000 for each site reviewed.
(2) The fee for the review of the budget plan
submitted under subsection (d) shall be $500 for each site reviewed.
(3) In the case of a Remediation Applicant submitting
for review total remediation costs of $100,000 or less for a site located within an enterprise zone (as set forth in paragraph (i) of subsection (l) of Section 201 of the Illinois Income Tax Act), the fee for an application for review of remediation costs shall be $250 for each site reviewed. For those sites, there shall be no fee for review of a budget plan under subsection (d).
The application fee shall be made payable to the State of Illinois, for
deposit into the Hazardous Waste Fund.
Pursuant to appropriation, the Agency shall use the fees collected under this
subsection for development and
administration of the review program.
(f) The Agency shall have the authority to enter into any contracts or
agreements that may be necessary to carry out its duties and responsibilities
under this Section.
(g) Within 6 months after July 21, 1997, the Agency shall propose rules prescribing procedures
and standards for its administration of this Section. Within 6 months after
receipt of the Agency's proposed rules, the Board shall adopt on second notice,
pursuant to Sections 27 and 28 of this Act and the Illinois Administrative
Procedure Act, rules that are consistent with this Section. Prior to the
effective date of rules adopted under this Section, the Agency may conduct
reviews of applications under this Section and the Agency is further authorized
to distribute guidance documents on costs that are eligible or ineligible as
(Source: P.A. 94-793, eff. 5-19-06; 94-1021, eff. 7-12-06; 95-454, eff. 8-27-07.)