Date	Chamber	Action
1/8/2013	House	Session Sine Die

Statutes Amended In Order of Appearance

15 ILCS 405/10.05c new

35 ILCS 10/5-50

35 ILCS 10/5-67 new

Synopsis As Introduced
Amends the Economic Development for a Growing Economy (EDGE) Tax Credit Act. Requires EDGE tax credit agreements between the Department of Commerce and Economic Opportunity and applicants to contain a provision requiring the applicant to maintain, beyond the period during which it receives the EDGE tax credit, employment payrolls at an agreed upon level. Provides that if employment payrolls are not maintained at that level for the specified term, then the taxpayer must pay an administrative penalty to the Department and shall not, until having paid that penalty, be eligible for credits against obligations imposed by the Illinois Income Tax Act. Provides for an additional penalty for taxpayers that fail to maintain employment levels due to outsourcing. Requires the Department to deposit into the General Revenue Fund all moneys collected as a result of these penalties and to notify the Department of Revenue when a taxpayer, because of the operation of these provisions, becomes ineligible or eligible for credits against obligations imposed under the Illinois Income Tax Act. Amends the State Comptroller Act to require the Comptroller, at the direction of the Department of Commerce and Economic Opportunity, to deduct these penalties from certain warrants and payments made to the taxpayer, and to pay those amounts over to the Department for deposit into the General Revenue Fund. Effective immediately.

Actions 

Date	Chamber	Action
2/24/2011	House	Filed with the Clerk by Rep. Eddie Lee Jackson, Sr.
2/24/2011	House	First Reading
2/24/2011	House	Referred to Rules Committee
2/28/2011	House	Assigned to Revenue & Finance Committee
3/17/2011	House	Rule 19(a) / Re-referred to Rules Committee
1/8/2013	House	Session Sine Die

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