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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2878 Introduced 2/4/2020, by Sen. Emil Jones, III SYNOPSIS AS INTRODUCED:
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Amends the Corporate Accountability for Tax Expenditures Act. Makes a
technical change in a Section concerning an annual budget.
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| | A BILL FOR |
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| | SB2878 | | LRB101 19469 RJF 68942 b |
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| 1 | | AN ACT concerning State government.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Corporate Accountability for Tax |
| 5 | | Expenditures Act is amended by changing Section 10 as follows:
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| 6 | | (20 ILCS 715/10)
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| 7 | | Sec. 10. Unified Economic Development Budget.
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| 8 | | (a) For each State fiscal year ending on or after June 30, |
| 9 | | 2005, the
the
Department of Revenue shall
submit an annual |
| 10 | | Unified Economic Development Budget to the General Assembly.
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| 11 | | The
Unified Economic Development Budget shall be due within 3 |
| 12 | | months after the end
of the fiscal
year, and shall present all |
| 13 | | types of development assistance granted,
including: |
| 14 | | (1) The aggregate amount of uncollected or diverted |
| 15 | | State tax revenues
resulting
from each type of development |
| 16 | | assistance provided in the tax statutes, as
reported to the
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| 17 | | Department of Revenue for tax years beginning during the |
| 18 | | third preceding calendar year.
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| 19 | | (2) All State development assistance granted during |
| 20 | | the prior fiscal year.
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| 21 | | (b) All data contained in the Unified Economic Development |
| 22 | | Budget presented
to the
General Assembly shall be fully subject |
| 23 | | to the Freedom of Information Act.
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