Section 520.650  Revocation of the High Impact Business Designation

a)         Failure to Need the Designation.  The Department shall revoke a High Impact Business designation in the event that it demonstrates that the business would have placed in service in qualified property the minimum eligible investment and created or retained the requisite number of jobs without the benefits of the High Impact Business designation.  Proof of this shall include, but is not limited to, correspondence, financial plans and prospectuses, internal memoranda, and other written documentation demonstrating that the business would have made the eligible investment without the designation.

b)         Failure to Comply with Certification.  The Department shall revoke a High Impact Business designation if the business fails to comply with the terms and conditions of the certification.

c)         Failure to Provide True Information on the Application.  The Department shall revoke a High Impact Business designation if it is determined upon investigation that the business falsified application information in violation of Section 520.630(f).

d)         Notification of Revocation.  The Department shall notify a High Impact Business in writing that it is subject to revocation. The notice shall include the reason for revocation and the date and location of a hearing to be held pursuant to 56 Ill. Adm. Code 2605 (Administrative Hearing Rules).

e)         Recovery of Wrongfully Exempted State Taxes.  Following revocation, the Department will contact the Director of the Illinois Department of Revenue and request he begin proceedings to recover wrongfully exempted State taxes with interest under the provisions of Sections 4 and 5 of the Retailers' Occupation Tax Act.

f)         Ineligibility for State Funded Programs.  Any business whose High Impact Business designation is revoked shall be ineligible for all State funded Department programs for 10 years.

g)         The penalties for new wind power facilities or Wind Energy Businesses for failure to comply with any of the terms or conditions of the Illinois Prevailing Wage Act shall be only those penalties identified in the Illinois Prevailing Wage Act, and the Department shall not revoke a High Impact Business designation as a result of the failure to comply with any of the terms or conditions of the Illinois Prevailing Wage Act in relation to a new wind power facility or a Wind Energy Business (a business generating electricity from wind kinetic energy devices with a nameplate capacity of at least 0.5 megawatts). [20 ILCS 655/5.5(g)]

(Source:  Amended at 38 Ill. Reg. 457, effective December 20, 2013)