Illinois General Assembly - Full Text of HB0160
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Full Text of HB0160  100th General Assembly

HB0160ham002 100TH GENERAL ASSEMBLY

Rep. Michael J. Zalewski

Filed: 5/24/2017

 

 


 

 


 
10000HB0160ham002LRB100 02289 HLH 27008 a

1
AMENDMENT TO HOUSE BILL 160

2    AMENDMENT NO. ______. Amend House Bill 160, AS AMENDED,
3with reference to page and line numbers of House Amendment No.
41, on page 14, immediately below line 15, by inserting the
5following:
6    "(g) Allocation rounds enabled by this Act shall be applied
7for according to the following schedule:
8        (1) on January 2, 2019, $125,000,000 of qualified
9    equity investments; and
10        (2) on January 2, 2020, $125,000,000 of qualified
11    equity investments."; and
 
12on page 18, line 7, after "business.", by inserting "This
13Section is not intended to affect ownership or affiliate
14interests that arise following the sixth anniversary of the
15issuance of the qualified equity investment."; and
 
16on page 19, by replacing lines 4 through 20 with the following:
 

 

 

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1    "(20 ILCS 663/55 new)
2    Sec. 55. Annual report. Each qualified community
3development entity shall submit an annual report to the
4Department within 45 days after the beginning of each calendar
5year during the compliance period. No annual report shall be
6due prior to the first anniversary of the initial credit
7allowance date. The report shall include, but is not limited
8to, the following:
9        (1) an attestation from an authorized officer of the
10    qualified community development entity that the entity has
11    not been the subject of any investigation by a government
12    agency relating to tax credits or financial services during
13    the preceding calendar year;
14        (2) information with respect to all qualified
15    low-income community investments made by the qualified
16    community development entity, including:
17            (A) the date and amount of, and bank statements or
18        wire transfer reports documenting, such qualified
19        low-income community investments;
20            (B) the name, address, and EIN of each qualified
21        active low-income community business funded by the
22        qualified community development entity, the number of
23        persons employed by such business at the time of the
24        initial investment, and a brief description of the
25        business, the financing, and community benefits of the

 

 

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1        financing; and
2            (C) the number of employment positions maintained
3        by each qualified active low-income community business
4        as of the date of report or the end of the preceding
5        calendar year and the average annual salaries of such
6        positions; and
7            (D) the total number of employment positions
8        created and retained as a result of qualified
9        low-income community investments and the average
10        annual salaries of those positions; and
11        (3) any changes with respect to the taxpayers entitled
12    to claim tax credits with respect to qualified equity
13    investments issued by the qualified community development
14    entity since its last report pursuant to this Section.
15    The qualified community development entity is not required
16to provide the annual report set forth in this Section for
17qualified low-income community investments that have been
18redeemed or repaid."; and
 
19on page 19, line 23, after "221,", by inserting "222,"; and
 
20on page 72, immediately below line 9, by inserting the
21following:
 
22    "(35 ILCS 5/222)
23    Sec. 222. Live theater production credit.

 

 

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1    (a) For tax years beginning on or after January 1, 2012 and
2beginning prior to January 1, 2022, a taxpayer who has received
3a tax credit award under the Live Theater Production Tax Credit
4Act is entitled to a credit against the taxes imposed under
5subsections (a) and (b) of Section 201 of this Act in an amount
6determined under that Act by the Department of Commerce and
7Economic Opportunity.
8    (b) If the taxpayer is a partnership, limited liability
9partnership, limited liability company, or Subchapter S
10corporation, the tax credit award is allowed to the partners,
11unit holders, or shareholders in accordance with the
12determination of income and distributive share of income under
13Sections 702 and 704 and Subchapter S of the Internal Revenue
14Code.
15    (c) A sale, assignment, or transfer of the tax credit award
16may be made by the taxpayer earning the credit within one year
17after the credit is awarded in accordance with rules adopted by
18the Department of Commerce and Economic Opportunity.
19    (d) The Department of Revenue, in cooperation with the
20Department of Commerce and Economic Opportunity, shall adopt
21rules to enforce and administer the provisions of this Section.
22    (e) The tax credit award may not be carried back. If the
23amount of the credit exceeds the tax liability for the year,
24the excess may be carried forward and applied to the tax
25liability of the 5 tax years following the excess credit year.
26The tax credit award shall be applied to the earliest year for

 

 

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1which there is a tax liability. If there are credits from more
2than one tax year that are available to offset liability, the
3earlier credit shall be applied first. In no event may a credit
4under this Section reduce the taxpayer's liability to less than
5zero.
6(Source: P.A. 97-636, eff. 6-1-12.)"; and
 
7on page 94, line 20, by replacing "5-65, and 5-70" with "5-65,
85-70, and 5-77"; and
 
9on page 119, by replacing lines 12 through 17 with the
10following:
11"Noncompliance Date. If the Taxpayer ceases operations at a
12project location that is the subject of an Agreement with the
13intent to terminate operations in the State, then the Taxpayer
14shall be subject to the provisions of the Keep Illinois
15Business Act."; and
 
16on page 120, immediately below line 18, by inserting the
17following:
 
18    "(35 ILCS 10/5-77)
19    Sec. 5-77. Sunset of new Agreements. The Department shall
20not enter into any new Agreements under the provisions of
21Section 5-50 of this Act after April 30, 2022 April 30, 2017.
22(Source: P.A. 99-925, eff. 1-20-17.)"; and
 

 

 

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1on page 120, line 21, by replacing "Section 42" with "Sections
235, 42, and 45"; and
 
3on page 120, immediately below line 21, by inserting the
4following:
 
5    "(35 ILCS 16/35)
6    Sec. 35. Issuance of Tax Credit Certificate.
7    (a) In order to qualify for a tax credit under this Act, an
8applicant must file an application, on forms prescribed by the
9Department, providing information necessary to calculate the
10tax credit, and any additional information as required by the
11Department. As part of the application, the applicant must
12commit to supplying the Department with the following
13information, at a minimum:
14        (1) an identification of each vendor that provides
15    goods or services that were included in the accredited
16    production's Illinois production spending;
17        (2) the amount of Illinois production spending
18    attributable to each vendor; and
19        (3) for each vendor identified under item (1), a
20    statement as to whether the vendor is a minority-owned
21    business or a female-owned business, as defined under
22    Section 2 of the Business Enterprise for Minorities,
23    Females, and Persons with Disabilities Act.

 

 

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1    (b) Upon satisfactory review of the application, the
2Department shall issue a Tax Credit Certificate stating the
3amount of the tax credit to which the applicant is entitled.
4(Source: P.A. 95-720, eff. 5-27-08.)"; and
 
5on page 121, immediately below line 8, by inserting the
6following:
 
7    "(35 ILCS 16/45)
8    Sec. 45. Evaluation of tax credit program; reports to the
9General Assembly.
10    (a) The Department shall evaluate the tax credit program.
11The evaluation must include an assessment of the effectiveness
12of the program in creating and retaining new jobs in Illinois
13and of the revenue impact of the program, and may include a
14review of the practices and experiences of other states or
15nations with similar programs. Upon completion of this
16evaluation, the Department shall determine the overall success
17of the program, and may make a recommendation to extend,
18modify, or not extend the program based on this evaluation.
19    (b) At the end of each fiscal quarter, the Department must
20submit to the General Assembly a report that includes, without
21limitation, the following information:
22        (1) the economic impact of the tax credit program,
23    including the number of jobs created and retained,
24    including whether the job positions are entry level,

 

 

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1    management, talent-related, vendor-related, or
2    production-related;
3        (2) the amount of film production spending brought to
4    Illinois, including the amount of spending and type of
5    Illinois vendors hired in connection with an accredited
6    production; and
7        (3) an overall picture of whether the human
8    infrastructure of the motion picture industry in Illinois
9    reflects the geographical, racial and ethnic, gender, and
10    income-level diversity of the State of Illinois.
11    (c) At the end of each fiscal year, the Department must
12submit to the General Assembly a report that includes, without
13limitation, the following information:
14        (1) an identification of each vendor that provided
15    goods or services that were included in an accredited
16    production's Illinois production spending and a statement
17    of whether the vendor is a minority-owned business or a
18    female-owned business, as defined under Section 2 of the
19    Business Enterprise for Minorities, Females, and Persons
20    with Disabilities Act;
21        (2) the aggregate amount paid to all each identified
22    vendors vendor by the accredited production;
23        (3) the aggregate amount paid to all identified vendors
24    that are for each identified vendor, a statement as to
25    whether the vendor is a minority owned businesses business
26    or a female owned businesses business, as defined under

 

 

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1    Section 2 of the Business Enterprise for Minorities,
2    Females, and Persons with Disabilities Act; and
3        (4) a description of any steps taken by the Department
4    to encourage accredited productions to use vendors who are
5    a minority owned business or a female owned business.
6(Source: P.A. 95-720, eff. 5-27-08.)"; and
 
7on page 121, line 10, after, "by", by inserting "changing
8Sections 10-40 and 10-50 and by"; and
 
9on page 121, immediately below line 10, by inserting the
10following:
 
11    "(35 ILCS 17/10-40)
12    Sec. 10-40. Issuance of Tax Credit Award Certificate.
13    (a) In order to qualify for a tax credit award under this
14Act, an applicant must file an application for each accredited
15theater production at each of the applicant's qualified
16production facilities, on forms prescribed by the Department,
17providing information necessary to calculate the tax credit
18award and any additional information as reasonably required by
19the Department. As part of the application, the applicant must
20commit to supplying the Department with the following
21information, at a minimum:
22        (1) an identification of each vendor that provides
23    goods or services that were included in the accredited

 

 

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1    production's Illinois production spending;
2        (2) the amount of Illinois production spending
3    attributable to each vendor; and
4        (3) for each vendor identified under item (1), a
5    statement as to whether the vendor is a minority-owned
6    business or a female-owned business, as defined under
7    Section 2 of the Business Enterprise for Minorities,
8    Females, and Persons with Disabilities Act.
9    (b) Upon satisfactory review of the application, the
10Department shall issue a tax credit award certificate stating
11the amount of the tax credit award to which the applicant is
12entitled for that tax year and shall contemporaneously notify
13the applicant and Illinois Department of Revenue in accordance
14with Section 222 of the Illinois Income Tax Act.
15(Source: P.A. 97-636, eff. 6-1-12.)
 
16    (35 ILCS 17/10-50)
17    Sec. 10-50. Live theater tax credit award program
18evaluation and reports.
19    (a) The Department's live theater tax credit award
20evaluation must include:
21        (i) an assessment of the effectiveness of the program
22    in creating and retaining new jobs in Illinois;
23        (ii) an assessment of the revenue impact of the
24    program;
25        (iii) in the discretion of the Department, a review of

 

 

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1    the practices and experiences of other states or nations
2    with similar programs; and
3        (iv) an assessment of the overall success of the
4    program. The Department may make a recommendation to
5    extend, modify, or not extend the program based on the
6    evaluation.
7    (b) At the end of each fiscal quarter, the Department shall
8submit to the General Assembly a report that includes, without
9limitation:
10        (i) an assessment of the economic impact of the
11    program, including the number of jobs created and retained,
12    and whether the job positions are entry level, management,
13    vendor, or production related;
14        (ii) the amount of accredited theater production
15    spending brought to Illinois, including the amount of
16    spending and type of Illinois vendors hired in connection
17    with an accredited theater production; and
18        (iii) a determination of whether those receiving
19    qualifying Illinois labor expenditure salaries or wages
20    reflect the geographical, racial and ethnic, gender, and
21    income level diversity of the State of Illinois.
22    (c) At the end of each fiscal year, the Department shall
23submit to the General Assembly a report that includes, without
24limitation:
25        (i) the identification of each vendor that provided
26    goods or services that were included in an accredited

 

 

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1    theater production's Illinois production spending and a
2    statement of whether the vendor is a minority-owned
3    business or a female-owned business, as defined under
4    Section 2 of the Business Enterprise for Minorities,
5    Females, and Persons with Disabilities Act;
6        (ii) a statement of (A) the aggregate amount paid to
7    all each identified vendors vendor by the accredited
8    theater production and (B) the aggregate amount paid to all
9    identified vendors that are minority-owned businesses or
10    female-owned businesses, as defined under Section 2 of the
11    Business Enterprise for Minorities, Females, and Persons
12    with Disabilities Act and whether the vendor is a minority
13    or female owned business as defined in Section 2 of the
14    Business Enterprise for Minorities, Females, and Persons
15    with Disabilities Act; and
16        (iii) a description of the steps taken by the
17    Department to encourage accredited theater productions to
18    use vendors who are minority or female owned businesses.
19(Source: P.A. 97-636, eff. 6-1-12.)"; and
 
20on page 397, line 22, by replacing "Subchapter S corporations"
21with "Subchapter S corporations and corporations recognized by
22the United States Internal Revenue Service as tax-exempt
23organizations under Section 501(c)(3) of the Internal Revenue
24Code"; and
 

 

 

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1by replacing everything from line 3 on page 390 through line 3
2on page 396 with the following:
 
3    "Section 35-10. The Limited Liability Company Act is
4amended by changing Section 50-10 as follows:
 
5    (805 ILCS 180/50-10)
6    (Text of Section before amendment by P.A. 99-637)
7    Sec. 50-10. Fees.
8    (a) The Secretary of State shall charge and collect in
9accordance with the provisions of this Act and rules
10promulgated under its authority all of the following:
11        (1) Fees for filing documents.
12        (2) Miscellaneous charges.
13        (3) Fees for the sale of lists of filings and for
14    copies of any documents.
15    (b) The Secretary of State shall charge and collect for all
16of the following:
17        (1) Filing articles of organization (domestic),
18    application for admission (foreign), and restated articles
19    of organization (domestic), $150 $500. Notwithstanding the
20    foregoing, the fee for filing articles of organization
21    (domestic), application for admission (foreign), and
22    restated articles of organization (domestic) in connection
23    with a limited liability company with ability to establish
24    series pursuant to Section 37-40 of this Act is $400 $750.

 

 

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1        (2) Filing articles of amendment or an amended
2    application for admission, $50 $150.
3        (3) Filing articles of dissolution or application for
4    withdrawal, $5 $100.
5        (4) Filing an application to reserve a name, $25 $300.
6        (5) Filing a notice of cancellation of a reserved name,
7    $5 $100.
8        (6) Filing a notice of a transfer of a reserved name,
9    $25 $100.
10        (7) Registration of a name, $50 $300.
11        (8) Renewal of registration of a name, $50 $100.
12        (9) Filing an application for use of an assumed name
13    under Section 1-20 of this Act, $150 for each year or part
14    thereof ending in 0 or 5, $120 for each year or part
15    thereof ending in 1 or 6, $90 for each year or part thereof
16    ending in 2 or 7, $60 for each year or part thereof ending
17    in 3 or 8, $30 for each year or part thereof ending in 4 or
18    9, and a renewal for each assumed name, $150.
19        (9.5) Filing an application for change of an assumed
20    name, $25.
21        (10) Filing an application for change or cancellation
22    of an assumed name, $5 $100.
23        (11) Filing an annual report of a limited liability
24    company or foreign limited liability company, $75 $250, if
25    filed as required by this Act, plus a penalty if
26    delinquent. Notwithstanding the foregoing, the fee for

 

 

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1    filing an annual report of a limited liability company or
2    foreign limited liability company with ability to
3    establish series is $75 $250 plus $50 for each series for
4    which a certificate of designation has been filed pursuant
5    to Section 37-40 of this Act and active on the last day of
6    the third month preceding the company's anniversary month,
7    plus a penalty if delinquent.
8        (12) Filing an application for reinstatement of a
9    limited liability company or foreign limited liability
10    company $200 $500.
11        (13) Filing Articles of Merger, $100 plus $50 for each
12    party to the merger in excess of the first 2 parties.
13        (14) Filing an Agreement of Conversion or Statement of
14    Conversion, $100.
15        (15) Filing a statement of change of address of
16    registered office or change of registered agent, or both,
17    or filing a statement of correction, $25.
18        (16) Filing a petition for refund, $5 $15.
19        (17) Filing any other document, $5 $100.
20        (18) Filing a certificate of designation of a limited
21    liability company with the ability to establish series
22    pursuant to Section 37-40 of this Act, $50.
23    (c) The Secretary of State shall charge and collect all of
24the following:
25        (1) For furnishing a copy or certified copy of any
26    document, instrument, or paper relating to a limited

 

 

10000HB0160ham002- 16 -LRB100 02289 HLH 27008 a

1    liability company or foreign limited liability company, or
2    for a certificate, $25.
3        (2) For the transfer of information by computer process
4    media to any purchaser, fees established by rule.
5(Source: P.A. 97-839, eff. 7-20-12.)
 
6    (Text of Section after amendment by P.A. 99-637)
7    Sec. 50-10. Fees.
8    (a) The Secretary of State shall charge and collect in
9accordance with the provisions of this Act and rules
10promulgated under its authority all of the following:
11        (1) Fees for filing documents.
12        (2) Miscellaneous charges.
13        (3) Fees for the sale of lists of filings and for
14    copies of any documents.
15    (b) The Secretary of State shall charge and collect for all
16of the following:
17        (1) Filing articles of organization (domestic),
18    application for admission (foreign), and restated articles
19    of organization (domestic), $150 $500. Notwithstanding the
20    foregoing, the fee for filing articles of organization
21    (domestic), application for admission (foreign), and
22    restated articles of organization (domestic) in connection
23    with a limited liability company with a series or the
24    ability to establish a series pursuant to Section 37-40 of
25    this Act is $400 $750.

 

 

10000HB0160ham002- 17 -LRB100 02289 HLH 27008 a

1        (2) Filing amendments (domestic or foreign), $50 $150.
2        (3) Filing a statement of termination or application
3    for withdrawal, $5 $25.
4        (4) Filing an application to reserve a name, $25 $300.
5        (5) Filing a notice of cancellation of a reserved name,
6    $5 $100.
7        (6) Filing a notice of a transfer of a reserved name,
8    $25 $100.
9        (7) Registration of a name, $50 $300.
10        (8) Renewal of registration of a name, $50 $100.
11        (9) Filing an application for use of an assumed name
12    under Section 1-20 of this Act, $150 for each year or part
13    thereof ending in 0 or 5, $120 for each year or part
14    thereof ending in 1 or 6, $90 for each year or part thereof
15    ending in 2 or 7, $60 for each year or part thereof ending
16    in 3 or 8, $30 for each year or part thereof ending in 4 or
17    9, and a renewal for each assumed name, $150.
18        (9.5) Filing an application for change of an assumed
19    name, $25.
20        (10) Filing an application for change or cancellation
21    of an assumed name, $5 $100.
22        (11) Filing an annual report of a limited liability
23    company or foreign limited liability company, $75 $250, if
24    filed as required by this Act, plus a penalty if
25    delinquent. Notwithstanding the foregoing, the fee for
26    filing an annual report of a limited liability company or

 

 

10000HB0160ham002- 18 -LRB100 02289 HLH 27008 a

1    foreign limited liability company is $75 $250 plus $50 for
2    each series for which a certificate of designation has been
3    filed pursuant to Section 37-40 of this Act and is in
4    effect on the last day of the third month preceding the
5    company's anniversary month, plus a penalty if delinquent.
6        (12) Filing an application for reinstatement of a
7    limited liability company or foreign limited liability
8    company $200 $500.
9        (13) Filing articles of merger, $100 plus $50 for each
10    party to the merger in excess of the first 2 parties.
11        (14) Filing articles of conversion, $100.
12        (15) Filing a statement of change of address of
13    registered office or change of registered agent, or both,
14    or filing a statement of correction, $25.
15        (16) Filing a petition for refund, $5 $15.
16        (17) Filing a certificate of designation of a limited
17    liability company with a series pursuant to Section 37-40
18    of this Act, $50.
19        (18) Filing articles of domestication, $100.
20        (19) Filing, amending, or cancelling a statement of
21    authority, $50.
22        (20) Filing, amending, or cancelling a statement of
23    denial, $10.
24        (21) Filing any other document, $5 $100.
25    (c) The Secretary of State shall charge and collect all of
26the following:

 

 

10000HB0160ham002- 19 -LRB100 02289 HLH 27008 a

1        (1) For furnishing a copy or certified copy of any
2    document, instrument, or paper relating to a limited
3    liability company or foreign limited liability company, or
4    for a certificate, $25.
5        (2) For the transfer of information by computer process
6    media to any purchaser, fees established by rule.
7(Source: P.A. 99-637, eff. 7-1-17.)".