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Rep. Michael J. Zalewski
Filed: 2/22/2012
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| 1 | | AMENDMENT TO HOUSE BILL 5014
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| 2 | | AMENDMENT NO. ______. Amend House Bill 5014 on page 1, line |
| 3 | | 5, by replacing "Section 1i" with "Sections 1f and 1i"; and
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| 4 | | on page 1, immediately below line 5, by inserting the |
| 5 | | following:
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| 6 | | "(35 ILCS 120/1f) (from Ch. 120, par. 440f)
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| 7 | | Sec. 1f. Except for High Impact Businesses, the exemption |
| 8 | | stated in
Sections 1d and 1e of this Act shall only apply to |
| 9 | | business enterprises which:
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| 10 | | (1) either (i) make investments which cause the |
| 11 | | creation of a minimum of
200 full-time equivalent jobs in |
| 12 | | Illinois or (ii) make investments which
cause the retention |
| 13 | | of a minimum of 2000 full-time jobs in Illinois or
(iii) |
| 14 | | make investments of a minimum of $40,000,000 and retain at |
| 15 | | least
90% of the jobs in place on the date on which the |
| 16 | | exemption is granted and
for the duration of the exemption; |
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| 1 | | and
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| 2 | | (2) are located in an Enterprise Zone established |
| 3 | | pursuant to the
Illinois Enterprise Zone Act; and
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| 4 | | (3) are certified by the Department of Commerce and |
| 5 | | Economic Opportunity as
complying with the requirements |
| 6 | | specified in clauses (1), (2) and (3).
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| 7 | | Any business enterprise seeking to avail itself of the |
| 8 | | exemptions stated
in Sections 1d or 1e, or both, shall make |
| 9 | | application to the Department of
Commerce and Economic |
| 10 | | Opportunity in such form and providing such information
as may |
| 11 | | be prescribed by the Department of Commerce and Economic |
| 12 | | Opportunity.
However, no business enterprise shall be |
| 13 | | required, as a condition for
certification under clause (4) of |
| 14 | | this Section, to attest that its decision
to invest under |
| 15 | | clause (1) of this Section and to locate under clause (2)
of |
| 16 | | this Section is predicated upon the availability of the |
| 17 | | exemptions
authorized by Sections 1d or 1e.
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| 18 | | The Department of Commerce and Economic Opportunity shall |
| 19 | | determine whether
the business enterprise meets the criteria |
| 20 | | prescribed in this Section. If
the Department of Commerce and |
| 21 | | Economic Opportunity determines that such
business enterprise |
| 22 | | meets the criteria, it shall issue a certificate of
eligibility |
| 23 | | for exemption to the business enterprise in such form as is
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| 24 | | prescribed by the Department of Revenue. The Department of |
| 25 | | Commerce and
Economic Opportunity shall act upon such |
| 26 | | certification requests within 60 days
after receipt of the |
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| 1 | | application, and shall file with the Department of
Revenue a |
| 2 | | copy of each certificate of eligibility for exemption.
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| 3 | | The Department of Commerce and Economic Opportunity shall |
| 4 | | have the power to
promulgate rules and regulations to carry out |
| 5 | | the provisions of this
Section including the power to define |
| 6 | | the amounts and types of eligible
investments not specified in |
| 7 | | this Section which business enterprises
must make in order to |
| 8 | | receive the exemptions stated in Sections 1d and 1e
of this |
| 9 | | Act; and to require that any business enterprise that is |
| 10 | | granted a
tax exemption repay the exempted tax if the business |
| 11 | | enterprise fails to
comply with the terms and conditions of the |
| 12 | | certification.
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| 13 | | Such certificate of eligibility for exemption shall be |
| 14 | | presented by the
business enterprise to its supplier when |
| 15 | | making the initial purchase of
tangible personal property for |
| 16 | | which an exemption is granted by Section 1d or
Section 1e, or |
| 17 | | both, together with a certification by the business enterprise
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| 18 | | that such tangible personal property is exempt from taxation |
| 19 | | under Section
1d or Section 1e and by indicating the exempt |
| 20 | | status of each subsequent
purchase on the face of the purchase |
| 21 | | order.
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| 22 | | The Department of Commerce and Economic Opportunity shall |
| 23 | | determine the
period during which such exemption from the taxes |
| 24 | | imposed under this Act is
in effect which shall not exceed 20 |
| 25 | | years, except for a business certified by the Department as a |
| 26 | | High Impact Service Facility, in which case the exemption shall |