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| Public Act 094-0966 |
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AN ACT concerning business incentives.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 1. Short title. This Act may be cited as the | ||||
Business Location Efficiency Incentive Act. | ||||
Section 5. Definitions. In this Act: | ||||
"Location efficient" means a project that maximizes the use | ||||
of existing investments in infrastructure, avoids or minimizes | ||||
additional government expenditures for new infrastructure, and | ||||
has nearby housing affordable to the permanent workforce of the | ||||
project or has accessible and affordable mass transit or its | ||||
equivalent or some combination of both. | ||||
"Location efficiency report" means a report that is | ||||
prepared by an applicant for increased State economic | ||||
development assistance under Section 10 and follows this Act | ||||
and any related Department guidelines, and that describes the | ||||
existence of (i) affordable workforce housing or (ii) | ||||
accessible and affordable mass transit or its equivalent. | ||||
"Employee housing or transportation remediation plan" | ||||
means a plan to increase affordable housing or transportation | ||||
options, or both, for employees earning up to the median annual | ||||
salary of the workforce at the project. The plan may include, | ||||
but is not limited to, an employer-financed or assisted housing | ||||
program that can be supplemented by State or federal grants, | ||||
shuttle services between the place of employment and existing | ||||
transit stops or other reasonably accessible places, | ||||
facilitation of employee carpooling, or similar services. | ||||
"Accessible and affordable mass transit" means access to | ||||
transit stops with regular and frequent service within one mile | ||||
from the project site and pedestrian access to transit stops. | ||||
"Affordable workforce housing" means owner-occupied or | ||||
rental housing that costs, based on current census data for the | ||||
municipality where the project is located or any municipality | ||
within 3 miles of the municipality where the project is | ||
located, no more than 35% of the median salary at the project | ||
site, exclusive of the highest 10% of the site's salaries. If | ||
the project is located in an unincorporated area, "affordable | ||
workforce housing" means no more than 35% of the median salary | ||
at the project site, excluding the highest 10% of the site's | ||
salaries, based on the median cost of rental or of | ||
owner-occupied housing in the county where the unincorporated | ||
area is located. | ||
"Department" means the Department of Commerce and Economic | ||
Opportunity (DCEO) or its successor agency. | ||
"Applicant" means a company or its representative that | ||
negotiates or applies for economic development assistance from | ||
DCEO. | ||
"Economic development assistance" means State tax credits | ||
and tax exemptions given as an incentive to an eligible company | ||
after certification by DCEO under the Economic Development for | ||
a Growing Economy Tax Credit Act (EDGE). | ||
"Existence of infrastructure" means the existence within | ||
1,500 feet of the proposed site of roads, sewers, sidewalks, | ||
and other utilities and a description of the investments or | ||
improvements, if any, that an applicant expects State or local | ||
government to make to that infrastructure. | ||
Section 10. Economic development assistance awards. | ||
(a) An applicant that also wants to be considered for | ||
increased economic development assistance under this Act shall | ||
submit a location efficiency report. | ||
(b) DCEO may give an applicant an increased tax credit or | ||
extension if the applicant's location efficiency report | ||
demonstrates that the applicant is seeking assistance for a | ||
project to be located in an area that satisfies this Act's | ||
standards for affordable workforce housing or affordable and | ||
accessible mass transit. If the Department determines from the | ||
location efficiency report that the applicant is seeking | ||
assistance in an area that is not location efficient, the | ||
Department may award an increase in State economic development | ||
assistance if an applicant (i) submits, and the Department | ||
accepts, an applicant's employee housing and transportation | ||
remediation plan or (ii) creates jobs in a labor surplus area | ||
as defined by the Department of Employment Security at the end | ||
of each calendar year. | ||
(c) Applicants locating or expanding at location-efficient | ||
sites, with approved location efficiency plans, or creating | ||
jobs in labor surplus areas may receive (i) up to 10% more than | ||
the maximum allowable tax credits for which they are eligible | ||
under the Economic Development for a Growing Economy Tax Credit | ||
Act (EDGE), but not to equal or exceed 100% of the applicant's | ||
tax liability, or (ii) such other adjustment of those tax | ||
credits, including but not limited to extensions, as the | ||
Department deems appropriate. | ||
(d) The Department may provide technical assistance to | ||
employers requesting assistance in developing an appropriate | ||
employee housing or transportation plan. | ||
Section 15. Summaries; progress reports. | ||
(a) DCEO shall include summaries of the initial employee | ||
housing or transportation plans for each assisted project in | ||
the annual compilation and publication of project progress | ||
reports required under subsection (d) of Section 20 of the | ||
Corporate Accountability for Tax Expenditures Act. Companies | ||
that fail to do so or that make inadequate progress shall have | ||
their increased tax credit or extension eliminated. Applicants | ||
and submitted data are subject to all disclosure, reporting, | ||
and recapture provisions set forth in Public Act 93-552. | ||
(b) By June 1, 2008 and by June 1 of each year thereafter | ||
through 2011, the Department shall include, when appropriate, | ||
data on the outcomes or status of approved employee housing or | ||
transportation plans in the project progress reports required | ||
under the Corporate Accountability for Tax Expenditure Act.
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Section 20. Duration of incentives; report to General | ||
Assembly. | ||
(a) Any multi-year incentive awarded under this Act shall | ||
continue for the time period called for in the agreement with | ||
the Department and shall not be altered by the repeal of this | ||
Act. | ||
(b) By January 1, 2011, the Department shall submit to the | ||
Speaker of the House of Representatives and the President of | ||
the Senate, for assignment to the appropriate committees, a | ||
report on the incentives awarded under this Act and the | ||
Department's activities, findings, and recommendations with | ||
respect to this Act and its extension, amendment, or repeal. | ||
The report, when acted upon by those committees, shall be | ||
distributed to each member of the General Assembly. | ||
Section 25. Repeal. This Act is repealed on December 31, | ||
2011.
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Section 99. Effective date. This Act takes effect January | ||
1, 2007.
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