Bill Status of HB 3333   97th General Assembly


Short Description:  EDGE-REPAYMENT-JOB RETENTION

House Sponsors
Rep. Eddie Lee Jackson, Sr.

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession 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 
DateChamber Action
  2/24/2011HouseFiled with the Clerk by Rep. Eddie Lee Jackson, Sr.
  2/24/2011HouseFirst Reading
  2/24/2011HouseReferred to Rules Committee
  2/28/2011HouseAssigned to Revenue & Finance Committee
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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