House Sponsors: DANIELS. Senate Sponsors: DILLARD Short description: DCCA-TECH Synopsis of Bill as introduced: Amends the Civil Administrative Code of Illinois. Makes a technical change in a Section creating the civil administrative agencies, including the Department of Commerce and Community Affairs. SENATE AMENDMENT NO. 1. Adds an immediate effective date. SENATE AMENDMENT NO. 2. Deletes reference to: 20 ILCS 5/5-15 Adds reference to: New Act 30 ILCS 105/5.545 new 35 ILCS 5/211 35 ILCS 10/5-35 35 ILCS 10/5-45 35 ILCS 200/18-165 Deletes everything. Creates the Corporate Headquarters Relocation Act. Encourages multinational corporations from outside Illinois to relocate corporate headquarters to Illinois through the use of incentives not otherwise available through existing programs. Authorizes the Department of Commerce and Community Affairs to enter into agreements to reimburse up to 50% of relocation costs subject to certain terms and conditions. Amends the State Finance Act to create the Corporate Headquarters Relocation Assistance Fund. Provides for the transfer to the Fund from the general revenue fund of 50% of income tax receipts attributable to employees employed at the corporate headquarters. Moneys in the Fund may be used by the Department to issue grants for relocation costs. Amends the Economic Development for a Growing Economy Tax Credit Act to authorize an eligible business relocating its corporate headquarters to Illinois to receive tax credits for 15 years (now 10 years). Amends the Property Tax Code to authorize taxing districts to abate taxes on property of an eligible business or to enter into an agreement with an eligible business to make payments to that business for up to 20 years. Makes other changes. The provisions of the Act are made severable. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status