SB2919 EngrossedLRB100 20329 HLH 35616 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  


 
4    Section 5. The Corporate Accountability for Tax 
5Expenditures Act is amended  by changing Section 10 as follows:
 



6    (20 ILCS 715/10)



7    Sec. 10. Unified Economic Development Budget. 

8    (a) For each State fiscal year ending on or after June 30, 
92005, the
Department of Revenue shall
submit an annual Unified 
10Economic Development Budget to the General Assembly.
The

11Unified Economic Development Budget shall be due within 3 
12months after the end
of the fiscal
year, and shall present all 
13types of development assistance granted during the
prior fiscal 
14year,
including:


15        (1) The aggregate amount of uncollected or diverted 
16    State tax revenues
resulting
from each type of development 
17    assistance provided in the tax statutes, as
reported to the

18    Department of Revenue for tax years beginning during the 
19    third preceding calendar on tax returns filed during the 
20    fiscal year.


21        (2) All State development assistance granted during 
22    the prior fiscal year.

23    (b) All data contained in the Unified Economic Development 
 
 
SB2919 Engrossed- 2 -LRB100 20329 HLH 35616 b

1Budget presented
to the
General Assembly shall be fully subject 
2to the Freedom of Information Act.

3    (c) The Department of Revenue shall submit a report of the 
4amounts in
subdivision (a)(1)
of this Section to the 
5Department, which may append such report to the Unified

6Economic
Development Budget rather than separately reporting 
7such amounts.

8(Source: P.A. 93-552, eff. 8-20-03.)

 

9    Section 99. Effective date. This Act takes effect upon 
10becoming law.