STEPHENS-HOLBROOK-DAVIS,STEVE-PHELPS-SMITH,MICHAEL AND BLACK.
BUS USE-LARGE SCALE DVLPMNT
Synopsis of Bill as introduced:
Creates the Business Use Incentives for Large-Scale Development
Act. Provides that an eligible industry that invests a minimum of
$15,000,000, or $10,000,000 for an office industry, and creates at
least 100 new jobs, or at least 500 jobs for an office industry, in
the State may apply for incentives, including tax credits in an amount
not to exceed 5% of the gross wages paid to the new employees of the
industry, as part of an economic development project through the
Department of Commerce and Community Affairs. Authorizes the
Department to enter into financing agreements with eligible industries
it selects to receive the incentives. Provides that the Department
shall select eligible industries and award credits based on the
positive economic benefits they will bring to the communities in which
they will be located and the State. Authorizes the Illinois
Development Finance Authority, in cooperation with the Department, to
issue up to $35,000,000 in bonds to finance the economic development
projects. Authorizes the Department to work with the Department of
Revenue in determining the credit received by the eligible industry.
Requires an annual evaluation of the economic development project.
Amends the Illinois Income Tax Act to create the Business Use
Incentives for Large-Scale Development tax credit. Exempts the credit
from the sunset provisions.
FISCAL NOTE (DCCA)
HB1627 will cost $240,000 for operational expenses and will
have a $500,000 increase in revenues and expenditures from the
new special project fund for each executed project.
STATE MANDATES FISCAL NOTE
HB1627 fails to meet the definition of a State mandate.
HOUSE AMENDMENT NO. 1.
Adds reference to:
30 ILCS 105/5.449 new
Deletes everything. Creates the Economic Development for a
Growing Economy Tax Credit Act. Provides that the Department of
Commerce and Community Affairs (DCCA), in cooperation with the
Department of Revenue, shall grant tax credits against Illinois income
tax liability to applicants creating new jobs in Illinois if the
applicant's project to create new jobs meets certain criteria,
including the creation of 100 new full-time jobs in Illinois.
Provides that DCCA shall enter into agreements with the qualifying
applicants. Provides that credit awards under the Act shall be used
for certain purposes, including capital investment, infrastructure
development, debt service, research and development, job training and
education, lease costs, or relocation costs. Provides that DCCA shall
determine the duration and amount of the credit. Provides that the
duration may not exceed 15 taxable years. Provides that the credit
may be stated as a percentage of the new employees' income tax
withholdings attributable to the applicant's project and may include a
fixed dollar limitation. Provides that if the Director of DCCA
determines that an applicant is in noncompliance with the provisions
of this Act, the Director shall notify the taxpayer of the alleged
noncompliance and allow the taxpayer a reasonable opportunity to
explain the noncompliance. Provides that if after this period the
Director determines the applicant is still in noncompliance, the
Director shall instruct the Department of Revenue to issue a notice of
deficiency to the taxpayer. Requires the Director to submit an annual
report on the tax credit program under this Act to the Governor and
the General Assembly. Requires DCCA to evaluate the tax credit
program biennially and submit their findings to the Governor and the
General Assembly. Provides that DCCA may adopt rules to implement the
provisions of the Act, including charging a fee to recipients of tax
credit awards for administration of the tax credit program. Provides
that the charges collected, if any, shall be deposited into the
Economic Development for a Growing Economy Fund. Amends the State
Finance Act to create the Fund. Amends the Illinois Income Tax Act to
create the Economic Development for a Growing Economy Tax Credit.
Exempts the credit from the sunset provisions.
SENATE AMENDMENT NO. 2.
Deletes reference to:
30 ILCS 105/5.449 new
35 ILCS 5/211 new
Adds reference to:
5 ILCS 120/1.02 from Ch. 102, par. 41.02
5 ILCS 140/7 from Ch. 116, par. 207
5 ILCS 420/3-101 rep.
Deletes everything. Creates the State Gift Ban Act. Prohibits
legislators, State Officers and employees, judges, and employees of
governmental entities, including home rule units, and school districts
from soliciting or receiving gifts from a person or entity with
interests affected by government. Provides specific exceptions and
allows a governmental entity to adopt or maintain policies more
restrictive than the Act. Requires the designation of ethics officers
to provide guidance under the Act and review statements of economic
interests. Creates ethics commissions within each branch of government
with 6 commissioners appointed to each commission and not more than 3
members of the same political party on each commission. Provides that
the Governor shall appoint the commissioners to the executive ethics
commission, the legislative leaders shall appoint the commissioners to
the legislative ethics commission, and the Chief Justice of the
Supreme Court shall, with the concurrence of 3 other Supreme Court
judges, appoint the commissioners to the judicial ethics commission.
Provides certain powers and procedures enabling the commissions to
hear complaints alleging violations of the Act. Provides that a
commission may issue recommendations prescribing certain disciplinary
action to the violator's ultimate jurisdictional authority and may
impose a fine. Provides that a commission may refer a recommendation
and the accompanying documents generated from the complaint procedure
to the Department of State Police or other law enforcement entity or
to a prosecutorial, investigatory, disciplinary, or similar entity.
Provides that a violation of the Act is a Class A misdemeanor.
Preempts home rule. Amends the Open Meetings Act and the Freedom of
Information Act to exempt from their provisions a commission's
proceedings and documents. Amends the Illinois Governmental Ethics Act
to delete the provision concerning a gift prohibition for legislators.
Effective January 1, 1998.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1
END OF INQUIRY
Full Text Bill Status