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90_SB1090
New Act
Creates the Economic Development Reassessment Act.
Establishes the Illinois Legislative Economic Reassessment
Coalition. Requires the coalition to evaluate the State's
economic development assistance programs and report to the
General Assembly by December 31, 1998. Sunsets the Coalition
on December 31, 1998.
SDS/bill0021/dgp
SDS/bill0021/dgp
1 AN ACT authorizing the General Assembly to evaluate and
2 study the State's economic development and employment
3 incentive laws.
4 Be it enacted by the People of the State of Illinois,
5 represented in the General Assembly:
6 Section 1 (short title). This Act may be cited as the
7 Economic Development Reassessment Act.
8 Section 5. Legislative intent and policy.
9 WHEREAS, for three decades, the General Assembly has made
10 economic development legislation a major legislative
11 priority; and
12 WHEREAS, the General Assembly has gone to great lengths
13 to improve the business environment and to provide state and
14 local governmental financial assistance to existing and new
15 businesses; and
16 WHEREAS, there now exist numerous tax incentives for both
17 small and large Illinois businesses, including: income tax
18 credits, deductions, subtractions, depreciation accelerations
19 and double weighing of the sales tax factor; sales tax
20 exemptions; industrial property tax relief; the conversion of
21 the utility tax from a tax on gross receipts to a tax on
22 consumption; and elimination of the State's inheritance tax;
23 and
24 WHEREAS, in addition to tax relief incentives, the
25 General Assembly has expanded the State's business financial
26 incentive programs including: numerous small business
27 assistance programs through the Department of Commerce and
28 Community Affairs; the creation of economic development
29 agencies with billions of millions of dollars in bonding
30 authority such as the Illinois Development Finance Authority
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1 and the Illinois Farm Development Authority; and the
2 technological assistance programs being made available by the
3 State's higher education system; and
4 WHEREAS, the General Assembly has authorized and financed
5 numerous programs intended to assist businesses in acquiring
6 skilled workers, including: twenty-seven different job
7 training programs in thirteen different State agencies, the
8 State's community college system and direct tax supported
9 grants to Illinois employers for upgrading employees' skills
10 on the job; and
11 WHEREAS, the General Assembly has also expanded local
12 governments' role in economic development, including:
13 increased bonding authority, tax increment financing,
14 infrastructure loan programs and property tax abatement
15 authority; and
16 WHEREAS, now, nearly three decades of economic
17 development legislation exist and the General Assembly has
18 shown its record of commitment to economic growth and job
19 creation; and
20 WHEREAS, while the Illinois economy is strong and
21 reflective of a strong national economy, it still is a state
22 with economic weaknesses as demonstrated by Dunn and
23 Bradstreet's recent study showing Illinois as the third
24 largest loser in business migrations; therefore
25 BE IT RESOLVED, that an Economic Development Program
26 Reassessment Coalition be formed to provide future General
27 Assemblies the information, direction, programs and
28 strategies needed to begin the next three decades of economic
29 development legislation.
30 Section 10. Economic Development Program Reassessment
31 Coalition. There is created the Illinois Economic
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1 Development Program Reassessment Coalition, hereafter
2 referred to as the "Coalition." The Coalition shall be
3 composed of the following members of the General Assembly:
4 the Senate President and the Minority Leader or their
5 appointees; the Chairperson and the Spokesperson of the
6 following Senate Committees: Agriculture; Appropriations;
7 Commerce; Education; Revenue; and Transportation; the Speaker
8 of the House and the Minority Leader of the House or their
9 appointees; the Chairperson and the Spokesperson of the
10 following House Committees: Agriculture and Conservation;
11 Elementary and Secondary Education; Higher Education; Labor
12 and Commerce; and Transportation and Motor Vehicles and one
13 Chair and one Spokesperson, appointed by the Speaker and the
14 Minority Leader, respectively, representing the House
15 Appropriations Committees.
16 The Coalition shall be co-chaired by one member from the
17 majority party in each chamber selected by the Senate
18 President and the Speaker of the House.
19 The Coalition shall act in a nonpartisan manner and in an
20 information gathering capacity. Only significant findings
21 and recommendations receiving a unanimous vote by the
22 Coalition shall be allowed in its final report. Individual
23 members wishing to express their own viewpoints not contained
24 in the final report's significant findings and
25 recommendations, may do so under their own name in the
26 appendix of the Coalition's Final Report.
27 The Coalition shall be authorized to secure expert
28 witnesses from industry, labor, finance, economics,
29 government, agriculture, transportation and education. It
30 shall be staffed by the respective Senate and House Majority
31 and Minority legislative staff and the Illinois Economic and
32 Fiscal Commission. Coalition members shall serve without
33 compensation, however, Coalition members, witnesses and staff
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1 shall be reimbursed from appropriations made to the Illinois
2 Economic and Fiscal Commission for expenses related to public
3 hearings.
4 The Coalition shall remain in effect until December 31,
5 1998. During that time, the Coalition shall conduct public
6 hearings. The subject of these hearings shall include, but
7 not be limited to, the following: a) state working capital
8 and finance programs; b) venture capital and seed fund
9 programs; c) job training programs; d) international trade
10 programs; e) infrastructure development programs; f) tax
11 incentive programs; g) business management and technological
12 assistance programs; and h) applicable federal loan and
13 assistance programs for Illinois businesses.
14 The Coalition shall provide a final report, in writing,
15 to each member of the General Assembly, no later than
16 December 31, 1998. The final report shall include testimony
17 from all witnesses appearing before the Coalition, minutes
18 from all Coalition meetings, significant findings and
19 recommendations and an appendix for individual Coalition
20 members' viewpoints.