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| Public Act 096-1429 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Corporate Accountability for Tax | ||||
Expenditures Act is amended by changing Section 20 as follows:
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(20 ILCS 715/20)
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Sec. 20. State development assistance disclosure.
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(a) Beginning February 1, 2005 and each year thereafter, | ||||
every State
granting body shall submit to the Department copies | ||||
of all development
assistance agreements that it approved in | ||||
the prior calendar year.
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(b) For each development assistance agreement for which the | ||||
date of
assistance has occurred in the prior calendar year, | ||||
each recipient shall
submit to the Department a progress | ||||
report. A recipient of multiple development assistance | ||||
agreements in the same award year and for a single project site | ||||
may file a consolidated progress report if the applicant's base | ||||
number of employees and number of jobs to be created and | ||||
retained as stated in the multiple development assistance | ||||
agreements or applications are the same. A progress report that | ||||
shall include, but not be
limited to, the following:
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(1) Each The application tracking number.
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(2) The office mailing address, telephone number, and | ||||
the name of the
chief
officer of the granting body.
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(3) The office mailing address, telephone number, | ||
4-digit SIC
number or successor number,
and the name of the | ||
chief officer of the applicant or authorized designee
for | ||
the specific project site for which the
development
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assistance was approved by the State granting body.
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(4) The type of development assistance program and | ||
value of assistance
that was approved by the State granting | ||
body.
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(5) The applicant's total number of employees at the | ||
specific project
site on the
date that the application was | ||
submitted to the State granting body and the
applicant's | ||
total number of employees at the
specific
project site on | ||
the date of the report, including the number of full-time,
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permanent jobs, the number of
part-time jobs, and
the | ||
number of temporary jobs, and a computation of the gain or | ||
loss of jobs in
each category.
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(6) The number of new employees and retained employees | ||
the applicant
stated
in its development assistance | ||
agreement, if any, if not, then in its
application, would | ||
be created
by the development assistance broken down by | ||
full-time, permanent, part-time,
and
temporary.
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(7) A declaration of whether the recipient is
in | ||
compliance with each the development assistance agreement.
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(8) A detailed list of the occupation or job | ||
classifications and number
of new employees or
retained | ||
employees to be hired in full-time, permanent jobs, a | ||
schedule of
anticipated
starting dates of the new hires and | ||
the actual average wage by occupation or
job classification
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and total payroll to be created as a result of the | ||
development assistance.
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(9) A narrative, if necessary, describing how the | ||
recipient's use of the
development assistance during the | ||
reporting year has reduced employment at
any site in | ||
Illinois.
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(10) A certification by the chief officer of the
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applicant
or his or her authorized designee that the | ||
information in the progress report
contains no
knowing | ||
misrepresentation of material facts upon which eligibility | ||
for
development
assistance is based.
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(11) Any other information the Department shall deem | ||
necessary to ensure compliance with a development | ||
assistance program. | ||
(c) The State granting body, or a successor agency,
shall | ||
have full
authority to verify information contained in the | ||
recipient's progress report,
including the authority to
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inspect the specific project site and
inspect the records of | ||
the recipient that are subject to the development
assistance | ||
agreement.
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(d) By June 1, 2005 and by June 1 of each year thereafter, | ||
the
Department shall compile
and publish all data in all of the | ||
progress reports in
both written and electronic form.
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(e) If a recipient of development assistance fails to | ||
comply with
subsection (b) of this Section, the Department | ||
shall, within 20 working days
after the
reporting submittal
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deadlines set forth in (i) the legislation authorizing, (ii) | ||
the
administrative rules implementing, or
(iii) specific | ||
provisions in development assistance agreements pertaining to
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the development assistance programs, suspend within 33 working | ||
days any current
development
assistance to the
recipient under | ||
its control, and shall be prohibited from completing any
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current or providing any
future development assistance until it | ||
receives proof that the recipient has
come into compliance
with | ||
the requirements of subsection (b) of this Section.
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(f) The Department shall have the discretion to modify the | ||
information
required
in the progress report required under | ||
subsection (b) consistent with the
disclosure purpose
of this | ||
Section for any grants under the Industrial Training Program | ||
that are
not given as
an incentive to a recipient business | ||
organization.
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(Source: P.A. 93-552, eff. 8-20-03.)
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Section 10. The Build Illinois Act is amended by changing | ||
Section 10-3 as follows:
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(30 ILCS 750/10-3) (from Ch. 127, par. 2710-3)
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Sec. 10-3. Powers and Duties. The Department has the power | ||
to:
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(a) Provide loans from the Build Illinois Bond Fund, the | ||
Fund for Illinois' Future, or the Large Business
Attraction | ||
Fund to a business undertaking a project and accept mortgages | ||
or
other evidences of indebtedness or security of such | ||
business.
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(b) Provide grants from the Build Illinois Bond Fund, the | ||
Fund for Illinois' Future, or the Large Business
Attraction | ||
Fund to or for the direct
benefit of a business undertaking a | ||
project. Any such grant shall (i) be
made and used only for the | ||
purpose of assisting the financing of the
business for the | ||
project in order to reduce the cost of financing to the
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business, (ii) be made only if a participating lender, or other | ||
funding
source including the applicant, also provides a portion | ||
of the financing
with respect to the project, and only if the | ||
Department determines, on the
basis of all the information | ||
available to it, that the project would not be
undertaken in | ||
Illinois unless the grant is provided, (iii) provide no more
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than 25% of the total dollar amount of any single project cost | ||
and be
approved for amounts from the Fund not to exceed | ||
$500,000 for any single
project, unless waived by the Director | ||
upon a finding that such waiver is
appropriate to accomplish | ||
the purpose of this Article, (iv) be made only
after the | ||
Department has determined that the grant will cause a project | ||
to
be undertaken which has the potential to create substantial | ||
employment in
relation to the amount of the grant, and (v) be | ||
made with a business that
has certified the project is a new | ||
plant start-up or expansion and is not a
relocation of an | ||
existing business from another site in Illinois unless
that | ||
relocation results in substantial employment growth.
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(c) Enter into agreements, accept funds or grants and | ||
cooperate with
agencies of the federal government, local units | ||
of government and local
regional economic development | ||
corporations or organizations for the purposes of
carrying out | ||
this Article.
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(d) Enter into contracts, letters of credit or any other | ||
agreements or
contracts with financial institutions necessary | ||
or desirable to carry out the
purposes of this Article. Any | ||
such agreement or contract may include, without
limitation, | ||
terms and provisions relating to a specific project such as | ||
loan
documentation, review and approval procedures, | ||
organization and servicing
rights, default conditions and | ||
other program aspects.
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(e) Fix, determine, charge and collect any premiums, fees, | ||
charges, costs
and expenses, including application fees, | ||
commitment fees, program fees,
financing charges or | ||
publication fees in connection with its activities under
this | ||
Article.
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(f) Establish application, notification, contract and | ||
other procedures,
rules or regulations deemed necessary and | ||
appropriate.
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(g) Subject to the provisions of any contract with another | ||
person and
consent to the modification or restructuring of any | ||
loan agreement to which the
Department is a party.
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(h) Take any actions which are necessary or appropriate to | ||
protect the
State's interest in the event of bankruptcy, | ||
default, foreclosure or
noncompliance with the terms and | ||
conditions of financial assistance or
participation provided | ||
under this Article, including the power to sell,
dispose, lease | ||
or rent, upon terms and conditions determined by the Director | ||
to
be appropriate, real or personal property which the | ||
Department may receive as a
result thereof.
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(i) Acquire and accept by gift, grant, purchase or | ||
otherwise, but not by
condemnation, fee simple title, or such | ||
lesser interest as may be desired, in
land, and to improve or | ||
arrange for the improvement of such land for industrial
or | ||
commercial site development purposes, and to lease or convey | ||
such land, or
interest in land, so acquired and so improved, | ||
including sale and conveyance
subject to a mortgage, for such | ||
price, upon such terms and at such time as the
Department may | ||
determine, provided that prior to exercising its authority | ||
under
this subsection, the Director shall find that other means | ||
of financing and
developing any such project are not reasonably | ||
available and that such action
is consistent with the purposes | ||
and policies of this Article.
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(j) Provide grants from the Build Illinois Bond Fund to | ||
municipalities and counties to demolish abandoned buildings
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pursuant to Section 11-31-1 of the Illinois Municipal Code or | ||
Section 5-1080 of
the Counties Code, for the purpose of making | ||
unimproved land available for
purchase by businesses for | ||
economic development. Such grants shall be provided
only when: | ||
(1) the owner of property on which the abandoned building is
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situated has entered into a contract to sell such property; (2) | ||
the Department
has determined that the grant will be used to | ||
cause a project to be undertaken
which will result in the | ||
creation of employment; (3) the business which has
entered into | ||
a contract to purchase the property has certified that it will | ||
use
the property for a project which is a new plant start-up or | ||
expansion or a new
venture opportunity and is not a relocation | ||
of an existing business from
another site within the State | ||
unless that relocation results in substantial
employment | ||
growth. If a municipality or county receives grants under this
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paragraph, it shall file a notice of lien against the owner or | ||
owners of such
demolished buildings to recover the costs and | ||
expenses incurred in the
demolition of such buildings pursuant | ||
to Section 11-31-1 of the Illinois
Municipal Code or Section | ||
5-1080 of the Counties Code. All such costs and
expenses | ||
recovered by the county or municipality shall be paid to the
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Department for deposit in the Build Illinois Purposes Account. | ||
Priority shall
be given to enterprise zones or those areas with | ||
high unemployment whose tax
base is adversely impacted by the | ||
closing of existing factories.
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(j-5) A business accepting a grant or loan under this | ||
Article shall provide the Department with quarterly reports | ||
detailing financial and performance information as requested | ||
by the Department during the grant or loan period. | ||
(k) Exercise such other powers as are necessary or | ||
incidental to the
foregoing.
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(Source: P.A. 94-91, eff. 7-1-05.)
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