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1 | AN ACT concerning business transactions.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 1. Short title. This Act may be cited as the | ||||||||||||||||||||||||
5 | Corporation Location Efficiency Act. | ||||||||||||||||||||||||
6 | Section 5. Definitions. In this Act:
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7 | "Accessible and convenient public transit" means access to | ||||||||||||||||||||||||
8 | transit stops with regular and frequent service within one-half | ||||||||||||||||||||||||
9 | mile from the project site, if the project is located in a mass | ||||||||||||||||||||||||
10 | transit district. | ||||||||||||||||||||||||
11 | "Affordable housing" means housing that costs no more than | ||||||||||||||||||||||||
12 | 35% of the average annual salary of the workforce. This is | ||||||||||||||||||||||||
13 | calculated by comparing the median rent or median cost of | ||||||||||||||||||||||||
14 | owner-occupied housing, based on current census data for the | ||||||||||||||||||||||||
15 | municipality where the project is located, to 35% of the | ||||||||||||||||||||||||
16 | average annual salary of the workforce. If the project is | ||||||||||||||||||||||||
17 | located in an unincorporated area, this analysis is based on | ||||||||||||||||||||||||
18 | the county median rent or median cost of owner-occupied | ||||||||||||||||||||||||
19 | housing. | ||||||||||||||||||||||||
20 | "Applicant" means a company or its representative that | ||||||||||||||||||||||||
21 | negotiates or applies for economic development assistance from | ||||||||||||||||||||||||
22 | the Department of Commerce and Economic Opportunity. | ||||||||||||||||||||||||
23 | "Average annual salary of the workforce" means the median | ||||||||||||||||||||||||
24 | salary at the project site, excluding the highest 10% of the | ||||||||||||||||||||||||
25 | site's salaries.
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26 | "Department" means the Department of Commerce and Economic | ||||||||||||||||||||||||
27 | Opportunity. | ||||||||||||||||||||||||
28 | "Economic development assistance" means (1) tax credits | ||||||||||||||||||||||||
29 | and tax exemptions given as an incentive to a recipient | ||||||||||||||||||||||||
30 | business organization pursuant to an initial certification or | ||||||||||||||||||||||||
31 | an initial designation made by the Department of Commerce and | ||||||||||||||||||||||||
32 | Economic Opportunity under the Economic Development for a |
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1 | Growing Economy Tax Credit Act (EDGE) and the Illinois | ||||||
2 | Enterprise Zone Act, including the High Impact Business | ||||||
3 | program, (2) grants or loans given to a recipient as an | ||||||
4 | incentive to a business organization pursuant to the Large | ||||||
5 | Business Development Program, the Business Development Public | ||||||
6 | Infrastructure Program, or the Critical Skill Shortages | ||||||
7 | Initiative, and (3) all successor and subsequent programs and | ||||||
8 | tax credits designed to promote large business relocations and | ||||||
9 | expansions. "Economic development assistance" does not include | ||||||
10 | assistance provided under the Illinois Enterprise Zone Act | ||||||
11 | pursuant to local ordinance, participation loans, or financial | ||||||
12 | transactions through statutorily authorized financial | ||||||
13 | intermediaries in support of small business loans and | ||||||
14 | investments or given in connection with the development of | ||||||
15 | affordable housing.
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16 | "Employee housing and transportation plan" means a plan to | ||||||
17 | increase housing and transportation options for employees | ||||||
18 | earning the average annual salary of the workforce. The plan | ||||||
19 | may include, but is not limited to, an employer-financed | ||||||
20 | employer assisted housing program that can be supplemented by | ||||||
21 | State or federal grants, shuttle services between the place of | ||||||
22 | employment and existing transit stops or other reasonably | ||||||
23 | accessible places, facilitation of employee carpooling, or | ||||||
24 | similar services. | ||||||
25 | "Existence of infrastructure" means the existence at the | ||||||
26 | proposed site of roads, sewers, sidewalks, and other utilities | ||||||
27 | and a description of the investments or improvements, if any, | ||||||
28 | that an applicant expects State or local government to make to | ||||||
29 | such infrastructure. | ||||||
30 | "Location efficiency report" means a report that is | ||||||
31 | prepared by the applicant and follows this Act and any | ||||||
32 | Department guidelines and describes the existence of (1) | ||||||
33 | affordable housing, (2) accessible and convenient public | ||||||
34 | transit, and (3) infrastructure. | ||||||
35 | "Location efficient" means a project located at a site with | ||||||
36 | the following characteristics: (1) maximizes the use of |
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1 | existing investments in infrastructure, (2) minimizes | ||||||
2 | additional government expenditures on new publicly financed | ||||||
3 | transportation or other infrastructure, and (3) affordable | ||||||
4 | housing to the workforce of the applicant. | ||||||
5 | Section 10. Economic development assistance awards; | ||||||
6 | priority.
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7 | (a) An applicant shall submit a location efficiency report | ||||||
8 | for the municipality or unincorporated area of a county where | ||||||
9 | its facility is located or will be located, along with the | ||||||
10 | information reported under subsection (b) of Section 15 of the | ||||||
11 | Corporate Accountability for Tax Expenditures Act, if it seeks | ||||||
12 | economic development assistance from the State and employs or | ||||||
13 | declares that it intends to employ at least 25 employees. | ||||||
14 | (b) The Department shall give an applicant priority in | ||||||
15 | awarding economic development assistance if it determines from | ||||||
16 | the applicant's location efficiency report that the applicant | ||||||
17 | is seeking assistance in an area that is location efficient. If | ||||||
18 | the Department determines from the location efficiency report | ||||||
19 | that the applicant is seeking assistance in an area that is not | ||||||
20 | location efficient, the Department shall give the applicant | ||||||
21 | priority in awarding economic development assistance if the | ||||||
22 | applicant submits and the Department accepts an employee | ||||||
23 | housing and transportation plan. | ||||||
24 | (c) The Department shall make public its justification for | ||||||
25 | awarding economic development assistance to any applicant | ||||||
26 | whose location efficiency report did not demonstrate location | ||||||
27 | efficiency at the time of announcing the award of the economic | ||||||
28 | development assistance to the applicant. | ||||||
29 | (d) The Department shall provide technical assistance to | ||||||
30 | employers requesting assistance in developing an appropriate | ||||||
31 | employee housing and transportation plan.
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32 | Section 15. Summaries; progress reports.
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33 | (a) The Department shall include summaries of the initial | ||||||
34 | employee housing and transportation plans for each assisted |
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1 | project in the annual compilation and publication of project | ||||||
2 | progress reports required under subsection (d) of Section 20 of | ||||||
3 | the Corporate Accountability for Tax Expenditures Act. All | ||||||
4 | actual or projected State and local government infrastructure | ||||||
5 | costs to support the exempted project shall also be made | ||||||
6 | available at this time and updated as needed in the annual | ||||||
7 | progress reports submitted by companies subsidized by the | ||||||
8 | State, as required under the Corporate Accountability for Tax | ||||||
9 | Expenditures Act. | ||||||
10 | (b) By June 1, 2006 and by June 1 of each year thereafter, | ||||||
11 | the Department shall include, where appropriate, data on the | ||||||
12 | outcomes or status of approved employee housing and | ||||||
13 | transportation plans in the project progress reports required | ||||||
14 | under the Corporate Accountability for Tax Expenditure Act.
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15 | Section 99. Effective date. This Act takes effect January | ||||||
16 | 1, 2005.
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