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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016 SB1068 Introduced 2/11/2015, by Sen. Christine Radogno SYNOPSIS AS INTRODUCED: | | |
Amends the Economic Development for a Growing Economy Tax Credit Act. Makes
a technical change in a Section concerning the amount of the
credit.
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| | A BILL FOR |
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| | SB1068 | | LRB099 05562 HLH 25598 b |
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1 | | AN ACT concerning revenue.
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2 | | Be it enacted by the People of the State of Illinois, |
3 | | represented in the General Assembly:
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4 | | Section 5. The Economic Development for a Growing Economy |
5 | | Tax Credit Act is amended by changing Section 5-40 as follows:
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6 | | (35 ILCS 10/5-40)
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7 | | Sec. 5-40. Determination of Amount of the Credit. In |
8 | | determining the
the
amount of the Credit that should be |
9 | | awarded, the Committee shall provide
guidance on, and the
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10 | | Department shall take into consideration, the
following |
11 | | factors:
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12 | | (1) The number and location of jobs created and |
13 | | retained in relation to
the economy of the county where the |
14 | | projected investment is to
occur.
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15 | | (2) The potential impact on the economy of Illinois.
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16 | | (3) The magnitude of the cost differential between |
17 | | Illinois and the
competing state.
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18 | | (4) The incremental payroll attributable to the |
19 | | project.
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20 | | (5) The capital investment attributable to the |
21 | | project.
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22 | | (6) The amount of the average wage and benefits paid by |
23 | | the Applicant in
relation to the wage and benefits of the |