Date	Chamber	Action
1/13/2009	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 10/5-16 new

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that in lieu of an income tax credit, an applicant may opt to receive economic development incentive payments under the Act. Defines "applicant" as any employer located or that plans to locate in Illinois. Provides that for each new employee, the applicant shall receive an incentive payment equal to or greater than the incremental income tax for that employee, as determined by the Department of Commerce and Economic Opportunity. Provides that, in addition, the applicant shall receive a supplemental incentive payment, in an amount determined by the Department, if the applicant provides health benefits for the new employees. Provides that agreements for the payments may last up to 10 years and that payments shall be made on a quarterly basis. Requires application for the payments on or before December 31, 2011. Requires the Department to report each January 1 to the Governor and the General Assembly on the progress of the incentive payment program. Effective January 1, 2009.

Actions 

Date	Chamber	Action
2/15/2008	House	Filed with the Clerk by Rep. Ruth Munson
2/15/2008	House	Chief Co-Sponsor Rep. Brent Hassert
2/15/2008	House	Chief Co-Sponsor Rep. Sidney H. Mathias
2/15/2008	House	First Reading
2/15/2008	House	Referred to Rules Committee
2/26/2008	House	Assigned to Revenue Committee
3/14/2008	House	Rule 19(a) / Re-referred to Rules Committee
1/13/2009	House	Session Sine Die

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