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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB1567 Introduced 2/9/2017, by Sen. Cristina Castro SYNOPSIS AS INTRODUCED:
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Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that each taxpayer claiming a credit under the Act shall, no later than April 15 of each taxable year for which the taxpayer claims a credit, submit to the Illinois Commerce Commission an annual report containing certain information concerning procurement goals and spending for female-owned, minority-owned, veteran-owned, and small business enterprises. Provides that the reports shall be submitted in the form and manner required by the Illinois Commerce Commission. Effective immediately.
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| | A BILL FOR |
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| | SB1567 | | LRB100 06206 HLH 16240 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Economic Development for a Growing Economy |
| 5 | | Tax Credit Act is amended by adding Section 5-57 as follows:
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| 6 | | (35 ILCS 10/5-57 new) |
| 7 | | Sec. 5-57. Supplier diversity goals; reports. Each |
| 8 | | taxpayer claiming a credit under this Act shall, no later than |
| 9 | | April 15 of each taxable year for which the taxpayer claims a |
| 10 | | credit under this Act, submit to the Illinois Commerce |
| 11 | | Commission an annual report containing the information |
| 12 | | described in subsections (b), (c), (d), and (e) of Section |
| 13 | | 5-117 of the Public Utilities Act. Those reports shall be |
| 14 | | submitted in the form and manner required by the Illinois |
| 15 | | Commerce Commission.
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| 16 | | Section 99. Effective date. This Act takes effect upon |
| 17 | | becoming law.
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