Illinois General Assembly - Full Text of SB1864
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Full Text of SB1864  102nd General Assembly




State of Illinois
2021 and 2022


Introduced 2/26/2021, by Sen. Jason A. Barickman


35 ILCS 10/5-10

    Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that, upon the issuance of a disaster proclamation by the Governor covering the location of Taxpayer that is party to an Agreement, the Department of Commerce and Economic Opportunity may modify or restructure the Agreement in a manner that includes, but is not limited to, the temporary modification of the job creation or retention requirements of the Agreement to provide that the Taxpayer will not be considered to be out of compliance with the Agreement so long as the Taxpayer maintains at least 85% of the job creation and retention requirements of the Agreement or a lesser percentage that the Department determines is warranted by the Taxpayer's particular circumstances. Effective immediately.

LRB102 12492 HLH 17829 b






SB1864LRB102 12492 HLH 17829 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Economic Development for a Growing Economy
5Tax Credit Act is amended by changing Section 5-10 as follows:
6    (35 ILCS 10/5-10)
7    Sec. 5-10. Powers of the Department. The Department, in
8addition to those powers granted under the Civil
9Administrative Code of Illinois, is granted and shall have all
10the powers necessary or convenient to carry out and effectuate
11the purposes and provisions of this Act, including, but not
12limited to, power and authority to:
13    (a) Promulgate procedures, rules, or regulations deemed
14necessary and appropriate for the administration of the
15programs; establish forms for applications, notifications,
16contracts, or any other agreements; and accept applications at
17any time during the year.
18    (b) Provide and assist Taxpayers pursuant to the
19provisions of this Act, and cooperate with Taxpayers that are
20parties to Agreements to promote, foster, and support economic
21development, capital investment, and job creation or retention
22within the State.
23    (c) Enter into agreements and memoranda of understanding



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1for participation of and engage in cooperation with agencies
2of the federal government, local units of government,
3universities, research foundations or institutions, regional
4economic development corporations, or other organizations for
5the purposes of this Act.
6    (d) Gather information and conduct inquiries, in the
7manner and by the methods as it deems desirable, including
8without limitation, gathering information with respect to
9Applicants for the purpose of making any designations or
10certifications necessary or desirable or to gather information
11to assist the Committee with any recommendation or guidance in
12the furtherance of the purposes of this Act.
13    (e) Establish, negotiate and effectuate any term,
14agreement or other document with any person, necessary or
15appropriate to accomplish the purposes of this Act; and to
16consent, subject to the provisions of any Agreement with
17another party, to the modification or restructuring of any
18Agreement to which the Department is a party.
19    Upon the issuance of a disaster proclamation by the
20Governor under Section 7 of the Illinois Emergency Management
21Agency Act covering the location of Taxpayer that is party to
22an Agreement, the Department shall have the authority to
23modify or restructure that Agreement in a manner that
24includes, but is not limited to, the temporary modification of
25the job creation or retention requirements of the Agreement to
26provide that the Taxpayer will not be considered to be out of



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1compliance with the Agreement so long as the Taxpayer
2maintains at least 85% of the job creation and retention
3requirements of the Agreement or a lesser percentage that the
4Department determines is warranted by the Taxpayer's
5particular circumstances. In the case of such a disaster
6proclamation, the Taxpayer shall not be out of compliance with
7a job creation or retention requirement because some or all of
8its employees are required or allowed to work remotely, so
9long as the base of operations for such employees remains the
10location of the Taxpayer that is the subject of the Agreement.
11The temporary modification of the job creation or retention
12requirements or other provisions of the Agreement shall be
13effective from the date of the disaster proclamation and any
14subsequent disaster proclamations issued during the 12 months
15after the expiration of the final disaster proclamation.
16During the modification period, the Department will award the
17credit for the actual number of jobs created or retained in the
18modification period. The Department will not find a Taxpayer
19out of compliance with an Agreement on the basis of a failure
20to maintain the job creation or retention requirements of an
21Agreement so long as the 85% level of job creation or retention
22is maintained during the modification period. This amendatory
23Act of the 102nd General Assembly is declaratory of existing
25    (f) Fix, determine, charge, and collect any premiums,
26fees, charges, costs, and expenses from Applicants, including,



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1without limitation, any application fees, commitment fees,
2program fees, financing charges, or publication fees as deemed
3appropriate to pay expenses necessary or incident to the
4administration, staffing, or operation in connection with the
5Department's or Committee's activities under this Act, or for
6preparation, implementation, and enforcement of the terms of
7the Agreement, or for consultation, advisory and legal fees,
8and other costs; however, all fees and expenses incident
9thereto shall be the responsibility of the Applicant.
10    (g) Provide for sufficient personnel to permit
11administration, staffing, operation, and related support
12required to adequately discharge its duties and
13responsibilities described in this Act from funds made
14available through charges to Applicants or from funds as may
15be appropriated by the General Assembly for the administration
16of this Act.
17    (h) Require Applicants, upon written request, to issue any
18necessary authorization to the appropriate federal, state, or
19local authority for the release of information concerning a
20project being considered under the provisions of this Act,
21with the information requested to include, but not be limited
22to, financial reports, returns, or records relating to the
23Taxpayers' or its project.
24    (i) Require that a Taxpayer shall at all times keep proper
25books of record and account in accordance with generally
26accepted accounting principles consistently applied, with the



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1books, records, or papers related to the Agreement in the
2custody or control of the Taxpayer open for reasonable
3Department inspection and audits, and including, without
4limitation, the making of copies of the books, records, or
5papers, and the inspection or appraisal of any of the Taxpayer
6or project assets.
7    (j) Take whatever actions are necessary or appropriate to
8protect the State's interest in the event of bankruptcy,
9default, foreclosure, or noncompliance with the terms and
10conditions of financial assistance or participation required
11under this Act, including the power to sell, dispose, lease,
12or rent, upon terms and conditions determined by the Director
13to be appropriate, real or personal property that the
14Department may receive as a result of these actions.
15(Source: P.A. 91-476, eff. 8-11-99.)
16    Section 99. Effective date. This Act takes effect upon
17becoming law.