Bill Status of HB 5470   96th General Assembly

Short Description:  EDGE-REPAYMENT-JOB RETENTION

House Sponsors
Rep. Keith Farnham-Eddie Lee Jackson, Sr.-Thomas Holbrook, Jehan A. Gordon, Carol A. Sente, Deborah Mell, Arthur L. Turner, Cynthia Soto, William Davis, Marlow H. Colvin, André M. Thapedi, Michael J. Zalewski, Karen May, Esther Golar, Lou Lang, Jack McGuire, Emily McAsey and Michael K. Smith

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 405/10.05c new
35 ILCS 10/5-50
35 ILCS 10/5-67 new

Synopsis As Introduced
Amends the Economic Development for a Growing Economy (EDGE) Tax Credit Act. Requires EDGE tax credit agreements between the Department of Commerce and Economic Opportunity and applicants to contain a provision requiring the applicant to maintain, beyond the period during which it receives the EDGE tax credit, employment payrolls at an agreed upon level. Provides that if employment payrolls are not maintained at that level for the specified term, then the taxpayer must pay an administrative penalty to the Department and shall not, until having paid that penalty, be eligible for credits against obligations imposed by the Illinois Income Tax Act. Requires the Department to deposit into the General Revenue Fund all moneys collected as a result of these penalties and to notify the Department of Revenue when a taxpayer, because of the operation of these provisions, becomes ineligible or eligible for credits against obligations imposed under the Illinois Income Tax Act. Amends the State Comptroller Act to require the Comptroller, at the direction of the Department of Commerce and Economic Opportunity, to deduct these penalties from certain warrants and payments made to the taxpayer, and to pay those amounts over to the Department for deposit into the General Revenue Fund. Effective immediately.

House Committee Amendment No. 1
Provides that, if the taxpayer fails to maintain employment payrolls due to labor outsourcing to other states, other countries, or both, then the taxpayer shall pay an additional administrative penalty to the Department in an amount that the Department shall establish by rule.

Actions 
DateChamber Action
  2/4/2010HouseFiled with the Clerk by Rep. Keith Farnham
  2/5/2010HouseFirst Reading
  2/5/2010HouseReferred to Rules Committee
  2/9/2010HouseAdded Co-Sponsor Rep. Jehan A. Gordon
  2/10/2010HouseAdded Chief Co-Sponsor Rep. Eddie Lee Jackson, Sr.
  2/10/2010HouseChief Co-Sponsor Changed to Rep. Eddie Lee Jackson, Sr.
  2/10/2010HouseAdded Co-Sponsor Rep. Carol A. Sente
  2/10/2010HouseAdded Co-Sponsor Rep. Deborah Mell
  2/10/2010HouseAdded Co-Sponsor Rep. Arthur L. Turner
  2/10/2010HouseAdded Co-Sponsor Rep. Cynthia Soto
  2/10/2010HouseAdded Co-Sponsor Rep. William Davis
  2/10/2010HouseAdded Co-Sponsor Rep. Marlow H. Colvin
  2/10/2010HouseAdded Co-Sponsor Rep. André M. Thapedi
  2/10/2010HouseAdded Co-Sponsor Rep. Michael J. Zalewski
  2/10/2010HouseAdded Co-Sponsor Rep. Karen May
  2/10/2010HouseAdded Co-Sponsor Rep. Esther Golar
  2/11/2010HouseAdded Co-Sponsor Rep. Lou Lang
  2/11/2010HouseAdded Co-Sponsor Rep. Jack McGuire
  2/16/2010HouseAssigned to Revenue & Finance Committee
  2/17/2010HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  2/23/2010HouseAdded Co-Sponsor Rep. Emily McAsey
  3/4/2010HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000
  3/4/2010HouseRemains in Revenue & Finance Committee
  3/11/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee
  3/11/2010HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  3/11/2010HouseRemains in Revenue & Finance Committee
  3/15/2010HouseRule 19(a) / Re-referred to Rules Committee
  3/17/2010HouseAdded Co-Sponsor Rep. Michael K. Smith
  1/11/2011HouseSession Sine Die

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