Section 120.50  Application Review

a)         Prior to substantive evaluation of an application, the Department shall screen all applications to determine that all requirements of the application package, as described in Section 120.40, have been addressed.  Applicants will be notified of deficiencies in applications and given an opportunity to correct those deficiencies through submission of additional documentation.

b)         In evaluating applications, the Department shall evaluate and confirm if all of the criteria in subsections (b)(1) through (4) of this Section are met.  If the applicant demonstrates that all criteria are met, the Department will notify the applicant by electronic mail that the application was accepted. If the applicant cannot demonstrate that all four conditions exist, the application will be denied and notification to the applicant provided in accordance with Section 120.60.

1)         the applicant intends to make the required investment in the State and intends to hire the required number of full-time employees;

2)         the applicant's project is economically sound and will benefit the people of the State by increasing opportunities for employment and strengthen the economy of the State;

3)         awarding the credit will result in an overall positive fiscal impact to the State, as certified by the Department using the best available data; and

4)         the credit is not prohibited under the Act. [35 ILCS 45/110-25]