Section 528.86  Illinois Production Workforce Development Fund

a)         The Illinois Production Workforce Development Fund is created as a special fund in the State Treasury. Beginning July 1, 2022, amounts paid to the Department of Commerce and Economic Opportunity pursuant to Section 213 of the Illinois Income Tax Act shall be deposited into the Fund. The Fund shall be used exclusively to provide grants to community-based organizations, labor organizations, private and public universities, community colleges, and other organizations and institutions that may be deemed appropriate by the Department to administer workforce training programs that support efforts to recruit, hire, promote, retain, develop, and train a diverse and inclusive workforce in the film industry.

b)         Beginning July 1, 2023 credits transferred under Section 528.85 are subject to a transfer fee pursuant to 528.85(e)(2) which shall be deposited into the Illinois Production Workforce Development Fund.

c)         The Department may request that the State Comptroller and the State Treasurer advance amounts to the Fund on an annual basis not to exceed $1,000,000 in any fiscal year. The Department shall reimburse the fund from which the moneys are advanced in the same fiscal year for any such advance payments via statutory transfer.

d)         Of the appropriated funds in a given fiscal year, 50% of the appropriated funds shall be reserved for organizations that meet one of the following criteria. The organization is:

1)         a minority-owned business, as defined by the Business Enterprise for Minorities, Women, and Persons with Disabilities Act;

2)         located in an underserved area, as defined by the Economic Development for a Growing Economy Tax Credit Act; or

3)         on an annual basis, training a cohort of program participants where at least 50% of the program participants are either a minority person, as defined by the Business Enterprise for Minorities, Women, and Persons with Disabilities Act, or reside in an underserved area, as defined by the Economic Development for a Growing Economy Tax Credit Act.

(Source:  Added at 47 Ill. Reg. 3693, effective March 1, 2023)