House Sponsors: STEPHENS-HOLBROOK-DAVIS,STEVE-PHELPS-SMITH,MICHAEL AND BLACK. Senate Sponsors: DILLARD-CARROLL Short description: BUS USE-LARGE SCALE DVLPMNT Synopsis of Bill as introduced: Creates the Business Use Incentives for Large-Scale Development Act. Provides that an eligible industry that invests a minimum of $15,000,000, or $10,000,000 for an office industry, and creates at least 100 new jobs, or at least 500 jobs for an office industry, in the State may apply for incentives, including tax credits in an amount not to exceed 5% of the gross wages paid to the new employees of the industry, as part of an economic development project through the Department of Commerce and Community Affairs. Authorizes the Department to enter into financing agreements with eligible industries it selects to receive the incentives. Provides that the Department shall select eligible industries and award credits based on the positive economic benefits they will bring to the communities in which they will be located and the State. Authorizes the Illinois Development Finance Authority, in cooperation with the Department, to issue up to $35,000,000 in bonds to finance the economic development projects. Authorizes the Department to work with the Department of Revenue in determining the credit received by the eligible industry. Requires an annual evaluation of the economic development project. Amends the Illinois Income Tax Act to create the Business Use Incentives for Large-Scale Development tax credit. Exempts the credit from the sunset provisions. FISCAL NOTE (DCCA) HB1627 will cost $240,000 for operational expenses and will have a $500,000 increase in revenues and expenditures from the new special project fund for each executed project. STATE MANDATES FISCAL NOTE HB1627 fails to meet the definition of a State mandate. HOUSE AMENDMENT NO. 1. Adds reference to: New Act 30 ILCS 105/5.449 new Deletes everything. Creates the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Community Affairs (DCCA), in cooperation with the Department of Revenue, shall grant tax credits against Illinois income tax liability to applicants creating new jobs in Illinois if the applicant's project to create new jobs meets certain criteria, including the creation of 100 new full-time jobs in Illinois. Provides that DCCA shall enter into agreements with the qualifying applicants. Provides that credit awards under the Act shall be used for certain purposes, including capital investment, infrastructure development, debt service, research and development, job training and education, lease costs, or relocation costs. Provides that DCCA shall determine the duration and amount of the credit. Provides that the duration may not exceed 15 taxable years. Provides that the credit may be stated as a percentage of the new employees' income tax withholdings attributable to the applicant's project and may include a fixed dollar limitation. Provides that if the Director of DCCA determines that an applicant is in noncompliance with the provisions of this Act, the Director shall notify the taxpayer of the alleged noncompliance and allow the taxpayer a reasonable opportunity to explain the noncompliance. Provides that if after this period the Director determines the applicant is still in noncompliance, the Director shall instruct the Department of Revenue to issue a notice of deficiency to the taxpayer. Requires the Director to submit an annual report on the tax credit program under this Act to the Governor and the General Assembly. Requires DCCA to evaluate the tax credit program biennially and submit their findings to the Governor and the General Assembly. Provides that DCCA may adopt rules to implement the provisions of the Act, including charging a fee to recipients of tax credit awards for administration of the tax credit program. Provides that the charges collected, if any, shall be deposited into the Economic Development for a Growing Economy Fund. Amends the State Finance Act to create the Fund. Amends the Illinois Income Tax Act to create the Economic Development for a Growing Economy Tax Credit. Exempts the credit from the sunset provisions. SENATE AMENDMENT NO. 2. Deletes reference to: New Act 30 ILCS 105/5.449 new 35 ILCS 5/211 new Adds reference to: New Act 5 ILCS 120/1.02 from Ch. 102, par. 41.02 5 ILCS 140/7 from Ch. 116, par. 207 5 ILCS 420/3-101 rep. Deletes everything. Creates the State Gift Ban Act. Prohibits legislators, State Officers and employees, judges, and employees of governmental entities, including home rule units, and school districts from soliciting or receiving gifts from a person or entity with interests affected by government. Provides specific exceptions and allows a governmental entity to adopt or maintain policies more restrictive than the Act. Requires the designation of ethics officers to provide guidance under the Act and review statements of economic interests. Creates ethics commissions within each branch of government with 6 commissioners appointed to each commission and not more than 3 members of the same political party on each commission. Provides that the Governor shall appoint the commissioners to the executive ethics commission, the legislative leaders shall appoint the commissioners to the legislative ethics commission, and the Chief Justice of the Supreme Court shall, with the concurrence of 3 other Supreme Court judges, appoint the commissioners to the judicial ethics commission. Provides certain powers and procedures enabling the commissions to hear complaints alleging violations of the Act. Provides that a commission may issue recommendations prescribing certain disciplinary action to the violator's ultimate jurisdictional authority and may impose a fine. Provides that a commission may refer a recommendation and the accompanying documents generated from the complaint procedure to the Department of State Police or other law enforcement entity or to a prosecutorial, investigatory, disciplinary, or similar entity. Provides that a violation of the Act is a Class A misdemeanor. Preempts home rule. Amends the Open Meetings Act and the Freedom of Information Act to exempt from their provisions a commission's proceedings and documents. Amends the Illinois Governmental Ethics Act to delete the provision concerning a gift prohibition for legislators. Effective January 1, 1998. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status