Illinois General Assembly - Full Text of HB4064
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Full Text of HB4064  103rd General Assembly

HB4064 103RD GENERAL ASSEMBLY

  
  

 


 
103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB4064

 

Introduced 5/3/2023, by Rep. Amy Elik - Jay Hoffman - Katie Stuart

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 686/20
20 ILCS 686/30
20 ILCS 686/40
20 ILCS 686/45

    Amends the Reimagining Energy and Vehicles in Illinois Act. Provides that, if the agreement is entered into on or after the effective date of the amendatory Act and before June 1, 2024 and the applicant (i) is an electric vehicle manufacturer, an electric vehicle component parts manufacturer, or a renewable energy manufacturer or (ii) has existing operations within Illinois that the applicant intends to convert or expand, in whole or in part, from traditional manufacturing to electric vehicle manufacturing, electric vehicle component parts manufacturing, renewable energy manufacturing, or electric vehicle power supply equipment manufacturing, then the applicant must (A) make an investment of at least $500,000,000 in capital improvements at the project site to be placed in service within the State within a 60-month period after approval of the application and (B) retain at least 800 full-time employee jobs in Illinois. Provides that, with respect to those agreements, a taxpayer may receive a tax credit not to exceed 75% of the incremental income tax attributable to retained employees at the applicant's project, except that, if the project is in an underserved area or an energy transition area, then the maximum amount of the credit attributable to retained employees for the applicant may be increased to an amount not to exceed 100% of the incremental income tax attributable to retained employees at the applicant's project. Effective immediately.


LRB103 31959 HLH 61416 b

 

 

A BILL FOR

 

HB4064LRB103 31959 HLH 61416 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Reimagining Energy and Vehicles in Illinois
5Act is amended by changing Sections 20, 30, 40, and 45 as
6follows:
 
7    (20 ILCS 686/20)
8    Sec. 20. REV Illinois Program; project applications.
9    (a) The Reimagining Energy and Vehicles in Illinois (REV
10Illinois) Program is hereby established and shall be
11administered by the Department. The Program will provide
12financial incentives to any one or more of the following: (1)
13eligible manufacturers of electric vehicles, electric vehicle
14component parts, and electric vehicle power supply equipment;
15(2) battery recycling and reuse manufacturers; (3) battery raw
16materials refining service providers; or (4) renewable energy
17manufacturers.
18    (b) Any taxpayer planning a project to be located in
19Illinois may request consideration for designation of its
20project as a REV Illinois Project, by formal written letter of
21request or by formal application to the Department, in which
22the applicant states its intent to make at least a specified
23level of investment and intends to hire a specified number of

 

 

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1full-time employees at a designated location in Illinois. As
2circumstances require, the Department shall require a formal
3application from an applicant and a formal letter of request
4for assistance.
5    (c) In order to qualify for credits under the REV Illinois
6Program, an applicant must:
7        (1) if the applicant is an electric vehicle
8    manufacturer:
9            (A) make an investment of at least $1,500,000,000
10        in capital improvements at the project site;
11            (B) to be placed in service within the State
12        within a 60-month period after approval of the
13        application; and
14            (C) create at least 500 new full-time employee
15        jobs; or
16        (2) if the applicant is an electric vehicle component
17    parts manufacturer or a renewable energy manufacturer:
18            (A) make an investment of at least $300,000,000 in
19        capital improvements at the project site;
20            (B) manufacture one or more parts that are
21        primarily used for electric vehicle manufacturing;
22            (C) to be placed in service within the State
23        within a 60-month period after approval of the
24        application; and
25            (D) create at least 150 new full-time employee
26        jobs; or

 

 

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1        (3) if the agreement is entered into before the
2    effective date of this amendatory Act of the 102nd General
3    Assembly and the applicant is an electric vehicle
4    manufacturer, an electric vehicle power supply equipment
5    manufacturer, an electric vehicle component part
6    manufacturer that does not qualify under paragraph (2)
7    above, a battery recycling and reuse manufacturer, or a
8    battery raw materials refining service provider:
9            (A) make an investment of at least $20,000,000 in
10        capital improvements at the project site;
11            (B) for electric vehicle component part
12        manufacturers, manufacture one or more parts that are
13        primarily used for electric vehicle manufacturing;
14            (C) to be placed in service within the State
15        within a 48-month period after approval of the
16        application; and
17            (D) create at least 50 new full-time employee
18        jobs; or
19        (3.1) if the agreement is entered into on or after the
20    effective date of this amendatory Act of the 102nd General
21    Assembly and the applicant is an electric vehicle
22    manufacturer, an electric vehicle power supply equipment
23    manufacturer, an electric vehicle component part
24    manufacturer that does not qualify under paragraph (2)
25    above, a renewable energy manufacturer that does not
26    qualify under paragraph (2) above, a battery recycling and

 

 

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1    reuse manufacturer, or a battery raw materials refining
2    service provider:
3            (A) make an investment of at least $2,500,000 in
4        capital improvements at the project site;
5            (B) in the case of electric vehicle component part
6        manufacturers, manufacture one or more parts that are
7        used for electric vehicle manufacturing;
8            (C) to be placed in service within the State
9        within a 48-month period after approval of the
10        application; and
11            (D) create the lesser of 50 new full-time employee
12        jobs or new full-time employee jobs equivalent to 10%
13        of the Statewide baseline applicable to the taxpayer
14        and any related member at the time of application; or
15        (4) if the agreement is entered into before the
16    effective date of this amendatory Act of the 102nd General
17    Assembly and the applicant is an electric vehicle
18    manufacturer or electric vehicle component parts
19    manufacturer with existing operations within Illinois that
20    intends to convert or expand, in whole or in part, the
21    existing facility from traditional manufacturing to
22    primarily electric vehicle manufacturing, electric vehicle
23    component parts manufacturing, or electric vehicle power
24    supply equipment manufacturing:
25            (A) make an investment of at least $100,000,000 in
26        capital improvements at the project site;

 

 

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1            (B) to be placed in service within the State
2        within a 60-month period after approval of the
3        application; and
4            (C) create the lesser of 75 new full-time employee
5        jobs or new full-time employee jobs equivalent to 10%
6        of the Statewide baseline applicable to the taxpayer
7        and any related member at the time of application; or
8        (4.1) if the agreement is entered into on or after the
9    effective date of this amendatory Act of the 102nd General
10    Assembly and the applicant (i) is an electric vehicle
11    manufacturer, an electric vehicle component parts
12    manufacturer, or a renewable energy manufacturer and (ii)
13    has existing operations within Illinois that the applicant
14    intends to convert or expand, in whole or in part, from
15    traditional manufacturing to electric vehicle
16    manufacturing, electric vehicle component parts
17    manufacturing, renewable energy manufacturing, or electric
18    vehicle power supply equipment manufacturing:
19            (A) make an investment of at least $100,000,000 in
20        capital improvements at the project site;
21            (B) to be placed in service within the State
22        within a 60-month period after approval of the
23        application; and
24            (C) create the lesser of 50 new full-time employee
25        jobs or new full-time employee jobs equivalent to 10%
26        of the Statewide baseline applicable to the taxpayer

 

 

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1        and any related member at the time of application; or .
2        (5) if the agreement is entered into on or after the
3    effective date of this amendatory Act of the 103rd General
4    Assembly and before June 1, 2024 and the applicant (i) is
5    an electric vehicle manufacturer, an electric vehicle
6    component parts manufacturer, or a renewable energy
7    manufacturer or (ii) has existing operations within
8    Illinois that the applicant intends to convert or expand,
9    in whole or in part, from traditional manufacturing to
10    electric vehicle manufacturing, electric vehicle component
11    parts manufacturing, renewable energy manufacturing, or
12    electric vehicle power supply equipment manufacturing:
13            (A) make an investment of at least $500,000,000 in
14        capital improvements at the project site;
15            (B) to be placed in service within the State
16        within a 60-month period after approval of the
17        application; and
18            (C) retain at least 800 full-time employee jobs at
19        the project.
20    (d) For agreements entered into prior to April 19, 2022
21(the effective date of Public Act 102-700), for any applicant
22creating the full-time employee jobs noted in subsection (c),
23those jobs must have a total compensation equal to or greater
24than 120% of the average wage paid to full-time employees in
25the county where the project is located, as determined by the
26U.S. Bureau of Labor Statistics. For agreements entered into

 

 

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1on or after April 19, 2022 (the effective date of Public Act
2102-700), for any applicant creating the full-time employee
3jobs noted in subsection (c), those jobs must have a
4compensation equal to or greater than 120% of the average wage
5paid to full-time employees in a similar position within an
6occupational group in the county where the project is located,
7as determined by the Department.
8    (e) For any applicant, within 24 months after being placed
9in service, it must certify to the Department that it is carbon
10neutral or has attained certification under one of more of the
11following green building standards:
12        (1) BREEAM for New Construction or BREEAM In-Use;
13        (2) ENERGY STAR;
14        (3) Envision;
15        (4) ISO 50001 - energy management;
16        (5) LEED for Building Design and Construction or LEED
17    for Building Operations and Maintenance;
18        (6) Green Globes for New Construction or Green Globes
19    for Existing Buildings; or
20        (7) UL 3223.
21    (f) Each applicant must outline its hiring plan and
22commitment to recruit and hire full-time employee positions at
23the project site. The hiring plan may include a partnership
24with an institution of higher education to provide
25internships, including, but not limited to, internships
26supported by the Clean Jobs Workforce Network Program, or

 

 

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1full-time permanent employment for students at the project
2site. Additionally, the applicant may create or utilize
3participants from apprenticeship programs that are approved by
4and registered with the United States Department of Labor's
5Bureau of Apprenticeship and Training. The applicant may apply
6for apprenticeship education expense credits in accordance
7with the provisions set forth in 14 Ill. Adm. Code 522. Each
8applicant is required to report annually, on or before April
915, on the diversity of its workforce in accordance with
10Section 50 of this Act. For existing facilities of applicants
11under paragraph (3) of subsection (b) above, if the taxpayer
12expects a reduction in force due to its transition to
13manufacturing electric vehicle, electric vehicle component
14parts, or electric vehicle power supply equipment, the plan
15submitted under this Section must outline the taxpayer's plan
16to assist with retraining its workforce aligned with the
17taxpayer's adoption of new technologies and anticipated
18efforts to retrain employees through employment opportunities
19within the taxpayer's workforce.
20    (g) Each applicant must demonstrate a contractual or other
21relationship with a recycling facility, or demonstrate its own
22recycling capabilities, at the time of application and report
23annually a continuing contractual or other relationship with a
24recycling facility and the percentage of batteries used in
25electric vehicles recycled throughout the term of the
26agreement.

 

 

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1    (h) A taxpayer may not enter into more than one agreement
2under this Act with respect to a single address or location for
3the same period of time. Also, a taxpayer may not enter into an
4agreement under this Act with respect to a single address or
5location for the same period of time for which the taxpayer
6currently holds an active agreement under the Economic
7Development for a Growing Economy Tax Credit Act. This
8provision does not preclude the applicant from entering into
9an additional agreement after the expiration or voluntary
10termination of an earlier agreement under this Act or under
11the Economic Development for a Growing Economy Tax Credit Act
12to the extent that the taxpayer's application otherwise
13satisfies the terms and conditions of this Act and is approved
14by the Department. An applicant with an existing agreement
15under the Economic Development for a Growing Economy Tax
16Credit Act may submit an application for an agreement under
17this Act after it terminates any existing agreement under the
18Economic Development for a Growing Economy Tax Credit Act with
19respect to the same address or location. If a project that is
20subject to an existing agreement under the Economic
21Development for a Growing Economy Tax Credit Act meets the
22requirements to be designated as a REV Illinois project under
23this Act, including for actions undertaken prior to the
24effective date of this Act, the taxpayer that is subject to
25that existing agreement under the Economic Development for a
26Growing Economy Tax Credit Act may apply to the Department to

 

 

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1amend the agreement to allow the project to become a
2designated REV Illinois project. Following the amendment, time
3accrued during which the project was eligible for credits
4under the existing agreement under the Economic Development
5for a Growing Economy Tax Credit Act shall count toward the
6duration of the credit subject to limitations described in
7Section 40 of this Act.
8    (i) If, at any time following the designation of a project
9as a REV Illinois Project by the Department and prior to the
10termination or expiration of an agreement under this Act, the
11project ceases to qualify as a REV Illinois project because
12the taxpayer is no longer an electric vehicle manufacturer, an
13electric vehicle component manufacturer, an electric vehicle
14power supply equipment manufacturer, a battery recycling and
15reuse manufacturer, or a battery raw materials refining
16service provider, that project may receive tax credit awards
17as described in Section 5-15 and Section 5-51 of the Economic
18Development for a Growing Economy Tax Credit Act, as long as
19the project continues to meet requirements to obtain those
20credits as described in the Economic Development for a Growing
21Economy Tax Credit Act and remains compliant with terms
22contained in the Agreement under this Act not related to their
23status as an electric vehicle manufacturer, an electric
24vehicle component manufacturer, an electric vehicle power
25supply equipment manufacturer, a battery recycling and reuse
26manufacturer, or a battery raw materials refining service

 

 

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1provider. Time accrued during which the project was eligible
2for credits under an agreement under this Act shall count
3toward the duration of the credit subject to limitations
4described in Section 5-45 of the Economic Development for a
5Growing Economy Tax Credit Act.
6(Source: P.A. 102-669, eff. 11-16-21; 102-700, eff. 4-19-22;
7102-1112, eff. 12-21-22; 102-1125, eff. 2-3-23.)
 
8    (20 ILCS 686/30)
9    Sec. 30. Tax credit awards.
10    (a) Subject to the conditions set forth in this Act, a
11taxpayer is entitled to a credit against the tax imposed
12pursuant to subsections (a) and (b) of Section 201 of the
13Illinois Income Tax Act for a taxable year beginning on or
14after January 1, 2025 if the taxpayer is awarded a credit by
15the Department in accordance with an agreement under this Act.
16The Department has authority to award credits under this Act
17on and after January 1, 2022.
18    (b) REV Illinois Credits. A taxpayer may receive a tax
19credit against the tax imposed under subsections (a) and (b)
20of Section 201 of the Illinois Income Tax Act, not to exceed
21the sum of (i) 75% of the incremental income tax attributable
22to new employees at the applicant's project and (ii) 10% of the
23training costs of the new employees. If the project is located
24in an underserved area or an energy transition area, then the
25amount of the credit may not exceed the sum of (i) 100% of the

 

 

HB4064- 12 -LRB103 31959 HLH 61416 b

1incremental income tax attributable to new employees at the
2applicant's project; and (ii) 10% of the training costs of the
3new employees. The percentage of training costs includable in
4the calculation may be increased by an additional 15% for
5training costs associated with new employees that are recent
6(2 years or less) graduates, certificate holders, or
7credential recipients from an institution of higher education
8in Illinois, or, if the training is provided by an institution
9of higher education in Illinois, the Clean Jobs Workforce
10Network Program, or an apprenticeship and training program
11located in Illinois and approved by and registered with the
12United States Department of Labor's Bureau of Apprenticeship
13and Training. An applicant is also eligible for a training
14credit that shall not exceed 10% of the training costs of
15retained employees for the purpose of upskilling to meet the
16operational needs of the applicant or the REV Illinois
17Project. The percentage of training costs includable in the
18calculation shall not exceed a total of 25%. If an applicant
19agrees to hire the required number of new employees, then the
20maximum amount of the credit for that applicant may be
21increased by an amount not to exceed 75% of the incremental
22income tax attributable to retained employees at the
23applicant's project; provided that, in order to receive the
24increase for retained employees, the applicant must, if
25applicable, meet or exceed the statewide baseline. For
26agreements entered into on or after the effective date of this

 

 

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1amendatory Act of the 103rd General Assembly and before June
21, 2024 that qualify under paragraph (5) of subsection (c) of
3Section 20, a taxpayer may receive a tax credit not to exceed
475% of the incremental income tax attributable to retained
5employees at the applicant's project. If the project is in an
6underserved area or an energy transition area and qualifies
7under paragraph (5) of subsection (c) of Section 20, then the
8maximum amount of the credit attributable to retained
9employees for the applicant may be increased to an amount not
10to exceed 100% of the incremental income tax attributable to
11retained employees at the applicant's project.
12    If the Project is in an underserved area or an energy
13transition area, the maximum amount of the credit attributable
14to retained employees for the applicant may be increased to an
15amount not to exceed 100% of the incremental income tax
16attributable to retained employees at the applicant's project;
17provided that, in order to receive the increase for retained
18employees, the applicant must meet or exceed the statewide
19baseline. REV Illinois Credits awarded may include credit
20earned for incremental income tax withheld and training costs
21incurred by the taxpayer beginning on or after January 1,
222022. Credits so earned and certified by the Department may be
23applied against the tax imposed by subsections (a) and (b) of
24Section 201 of the Illinois Income Tax Act for taxable years
25beginning on or after January 1, 2025.
26    (c) REV Construction Jobs Credit. For construction wages

 

 

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1associated with a project that qualified for a REV Illinois
2Credit under subsection (b), the taxpayer may receive a tax
3credit against the tax imposed under subsections (a) and (b)
4of Section 201 of the Illinois Income Tax Act in an amount
5equal to 50% of the incremental income tax attributable to
6construction wages paid in connection with construction of the
7project facilities, as a jobs credit for workers hired to
8construct the project.
9    The REV Construction Jobs Credit may not exceed 75% of the
10amount of the incremental income tax attributable to
11construction wages paid in connection with construction of the
12project facilities if the project is in an underserved area or
13an energy transition area.
14    (d) The Department shall certify to the Department of
15Revenue: (1) the identity of Taxpayers that are eligible for
16the REV Illinois Credit and REV Construction Jobs Credit; (2)
17the amount of the REV Illinois Credits and REV Construction
18Jobs Credits awarded in each calendar year; and (3) the amount
19of the REV Illinois Credit and REV Construction Jobs Credit
20claimed in each calendar year. REV Illinois Credits awarded
21may include credit earned for Incremental Income Tax withheld
22and Training Costs incurred by the Taxpayer beginning on or
23after January 1, 2022. Credits so earned and certified by the
24Department may be applied against the tax imposed by Section
25201(a) and (b) of the Illinois Income Tax Act for taxable years
26beginning on or after January 1, 2025.

 

 

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1    (e) Applicants seeking certification for a tax credits
2related to the construction of the project facilities in the
3State shall require the contractor to enter into a project
4labor agreement that conforms with the Project Labor
5Agreements Act.
6    (f) Any applicant issued a certificate for a tax credit or
7tax exemption under this Act must annually report to the
8Department the total project tax benefits received. Reports
9are due no later than May 31 of each year and shall cover the
10previous calendar year. The first report is for the 2022
11calendar year and is due no later than May 31, 2023. For
12applicants issued a certificate of exemption under Section 105
13of this Act, the report shall be the same as required for a
14High Impact Business under subsection (a-5) of Section 8.1 of
15the Illinois Enterprise Zone Act. Each person required to file
16a return under the Gas Revenue Tax Act, the Electricity Excise
17Tax Law, or the Telecommunications Excise Tax Act shall file a
18report containing information about customers that are issued
19an exemption certificate under Section 95 of this Act in the
20same manner and form as they are required to report under
21subsection (b) of Section 8.1 of the Illinois Enterprise Zone
22Act.
23    (g) Nothing in this Act shall prohibit an award of credit
24to an applicant that uses a PEO if all other award criteria are
25satisfied.
26    (h) With respect to any portion of a REV Illinois Credit

 

 

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1that is based on the incremental income tax attributable to
2new employees or retained employees, in lieu of the Credit
3allowed under this Act against the taxes imposed pursuant to
4subsections (a) and (b) of Section 201 of the Illinois Income
5Tax Act, a taxpayer that otherwise meets the criteria set
6forth in this Section, the taxpayer may elect to claim the
7credit, on or after January 1, 2025, against its obligation to
8pay over withholding under Section 704A of the Illinois Income
9Tax Act. The election shall be made in the manner prescribed by
10the Department of Revenue and once made shall be irrevocable.
11(Source: P.A. 102-669, eff. 11-16-21; 102-1112, eff. 12-21-22;
12102-1125, eff. 2-3-23; revised 4-5-23.)
 
13    (20 ILCS 686/40)
14    Sec. 40. Amount and duration of the credits; limitation to
15amount of costs of specified items. The Department shall
16determine the amount and duration of the REV Illinois Credit
17awarded under this Act, subject to the limitations set forth
18in this Act. For a project that qualified under paragraph (1),
19(2), (4), or (4.1), or (5) of subsection (c) of Section 20, the
20duration of the credit may not exceed 15 taxable years, with an
21option to renew the agreement for no more than one term not to
22exceed an additional 15 taxable years. For a project that
23qualified under paragraph (3) or (3.1) of subsection (c) of
24Section 20, the duration of the credit may not exceed 10
25taxable years, with an option to renew the agreement for no

 

 

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1more than one term not to exceed an additional 10 taxable
2years. The credit may be stated as a percentage of the
3incremental income tax and training costs attributable to the
4applicant's project and may include a fixed dollar limitation.
5    Nothing in this Section shall prevent the Department, in
6consultation with the Department of Revenue, from adopting
7rules to extend the sunset of any earned, existing, and unused
8tax credit or credits a taxpayer may be in possession of, as
9provided for in Section 605-1055 of the Department of Commerce
10and Economic Opportunity Law of the Civil Administrative Code
11of Illinois, notwithstanding the carry-forward provisions
12pursuant to paragraph (4) of Section 211 of the Illinois
13Income Tax Act.
14(Source: P.A. 102-669, eff. 11-16-21; 102-1112, eff. 12-21-22;
15102-1125, eff. 2-3-23; revised 4-5-23.)
 
16    (20 ILCS 686/45)
17    Sec. 45. Contents of agreements with applicants.
18    (a) The Department shall enter into an agreement with an
19applicant that is awarded a credit under this Act. The
20agreement shall include all of the following:
21        (1) A detailed description of the project that is the
22    subject of the agreement, including the location and
23    amount of the investment and jobs created or retained.
24        (2) The duration of the credit, the first taxable year
25    for which the credit may be awarded, and the first taxable

 

 

HB4064- 18 -LRB103 31959 HLH 61416 b

1    year in which the credit may be used by the taxpayer.
2        (3) The credit amount that will be allowed for each
3    taxable year.
4        (4) For a project qualified under paragraphs (1), (2),
5    or (4), or (5) of subsection (c) of Section 20, a
6    requirement that the taxpayer shall maintain operations at
7    the project location a minimum number of years not to
8    exceed 15. For a project qualified under paragraph (3) of
9    subsection (c) of Section 20, a requirement that the
10    taxpayer shall maintain operations at the project location
11    a minimum number of years not to exceed 10.
12        (5) A specific method for determining the number of
13    new employees and if applicable, retained employees,
14    employed during a taxable year.
15        (6) A requirement that the taxpayer shall annually
16    report to the Department the number of new employees, the
17    incremental income tax withheld in connection with the new
18    employees, and any other information the Department deems
19    necessary and appropriate to perform its duties under this
20    Act.
21        (7) A requirement that the Director is authorized to
22    verify with the appropriate State agencies the amounts
23    reported under paragraph (6), and after doing so shall
24    issue a certificate to the taxpayer stating that the
25    amounts have been verified.
26        (8) A requirement that the taxpayer shall provide

 

 

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1    written notification to the Director not more than 30 days
2    after the taxpayer makes or receives a proposal that would
3    transfer the taxpayer's State tax liability obligations to
4    a successor taxpayer.
5        (9) A detailed description of the number of new
6    employees to be hired, and the occupation and payroll of
7    full-time jobs to be created or retained because of the
8    project.
9        (10) The minimum investment the taxpayer will make in
10    capital improvements, the time period for placing the
11    property in service, and the designated location in
12    Illinois for the investment.
13        (11) A requirement that the taxpayer shall provide
14    written notification to the Director and the Director's
15    designee not more than 30 days after the taxpayer
16    determines that the minimum job creation or retention,
17    employment payroll, or investment no longer is or will be
18    achieved or maintained as set forth in the terms and
19    conditions of the agreement. Additionally, the
20    notification should outline to the Department the number
21    of layoffs, date of the layoffs, and detail taxpayer's
22    efforts to provide career and training counseling for the
23    impacted workers with industry-related certifications and
24    trainings.
25        (12) If applicable, a A provision that, if the total
26    number of new employees falls below a specified level, the

 

 

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1    allowance of credit shall be suspended until the number of
2    new employees equals or exceeds the agreement amount.
3        (13) If applicable, a provision that specifies the
4    statewide baseline at the time of application for retained
5    employees. The Additionally, the agreement must have a
6    provision addressing if the total number of retained
7    employees falls below the lesser of the statewide baseline
8    or the retention requirements specified in the agreement,
9    the allowance of the credit shall be suspended until the
10    number of retained employees equals or exceeds the
11    agreement amount.
12        (14) A detailed description of the items for which the
13    costs incurred by the Taxpayer will be included in the
14    limitation on the Credit provided in Section 40.
15        (15) If the agreement is entered into before the
16    effective date of this amendatory Act of the 103rd General
17    Assembly, a A provision stating that if the taxpayer fails
18    to meet either the investment or job creation and
19    retention requirements specified in the agreement during
20    the entire 5-year period beginning on the first day of the
21    first taxable year in which the agreement is executed and
22    ending on the last day of the fifth taxable year after the
23    agreement is executed, then the agreement is automatically
24    terminated on the last day of the fifth taxable year after
25    the agreement is executed, and the taxpayer is not
26    entitled to the award of any credits for any of that 5-year

 

 

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1    period. If the agreement is entered into on or after the
2    effective date of this amendatory Act of the 103rd General
3    Assembly, a provision stating that if the taxpayer fails
4    to meet either the investment or job creation and
5    retention requirements specified in the agreement during
6    the entire 10-year period beginning on the effective date
7    of the agreement and ending 10 years after the effective
8    date of the agreement, then the agreement is automatically
9    terminated, and the taxpayer is not entitled to the award
10    of any credits for any of that 10-year period.
11        (16) A provision stating that if the taxpayer ceases
12    principal operations with the intent to permanently shut
13    down the project in the State during the term of the
14    Agreement, then the entire credit amount awarded to the
15    taxpayer prior to the date the taxpayer ceases principal
16    operations shall be returned to the Department and shall
17    be reallocated to the local workforce investment area in
18    which the project was located.
19        (17) A provision stating that the Taxpayer must
20    provide the reports outlined in Sections 50 and 55 on or
21    before April 15 each year.
22        (18) A provision requiring the taxpayer to report
23    annually its contractual obligations or otherwise with a
24    recycling facility for its operations.
25        (19) Any other performance conditions or contract
26    provisions the Department determines are necessary or

 

 

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1    appropriate.
2        (20) Each taxpayer under paragraph (1) of subsection
3    (c) of Section 20 above shall maintain labor neutrality
4    toward any union organizing campaign for any employees of
5    the taxpayer assigned to work on the premises of the REV
6    Illinois Project Site. This paragraph shall not apply to
7    an electric vehicle manufacturer, electric vehicle
8    component part manufacturer, electric vehicle power supply
9    manufacturer, or renewable energy manufacturer, or any
10    joint venture including an electric vehicle manufacturer,
11    electric vehicle component part manufacturer, electric
12    vehicle power supply manufacturer, or renewable energy
13    manufacturer, who is subject to collective bargaining
14    agreement entered into prior to the taxpayer filing an
15    application pursuant to this Act.
16    (b) The Department shall post on its website the terms of
17each agreement entered into under this Act. Such information
18shall be posted within 10 days after entering into the
19agreement and must include the following:
20        (1) the name of the taxpayer;
21        (2) the location of the project;
22        (3) the estimated value of the credit;
23        (4) the number of new employee jobs and, if
24    applicable, number of retained employee jobs at the
25    project; and
26        (5) whether or not the project is in an underserved

 

 

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1    area or energy transition area.
2(Source: P.A. 102-669, eff. 11-16-21; 102-1125, eff. 2-3-23;
3revised 4-5-23.)
 
4    Section 99. Effective date. This Act takes effect upon
5becoming law.