Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 10/5-16 new

Synopsis As Introduced
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that in lieu of an income tax credit, an applicant may opt to receive economic development incentive payments under the Act. Defines "applicant" as any employer located or that plans to locate in Illinois. Provides that for each new employee, the applicant shall receive an incentive payment equal to or greater than the incremental income tax for that employee, as determined by the Department of Commerce and Community Affairs. Provides that, in addition, the applicant shall receive a supplemental incentive payment, in an amount determined by the Department, if the applicant provides health benefits for the new employees. Provides that agreements for the payments may last up to 10 years and that payments shall be made on a quarterly basis. Requires application for the payments on or before December 31, 2008. Requires the Department to report each January 1 to the Governor and the General Assembly on the progress of the incentive payment program. Effective January 1, 2005.

Actions 

Date	Chamber	Action
2/5/2004	House	Filed with the Clerk by Rep. Donald L. Moffitt
2/5/2004	House	First Reading
2/5/2004	House	Referred to Rules Committee
2/13/2004	House	Added Chief Co-Sponsor Rep. Suzanne Bassi
2/25/2004	House	Added Chief Co-Sponsor Rep. Robert W. Pritchard
2/25/2004	House	Added Chief Co-Sponsor Rep. Elizabeth Coulson
2/25/2004	House	Added Chief Co-Sponsor Rep. Jim Sacia
2/25/2004	House	Added Co-Sponsor Rep. Chapin Rose
2/25/2004	House	Added Co-Sponsor Rep. Patricia Reid Lindner
2/25/2004	House	Added Co-Sponsor Rep. William B. Black
2/25/2004	House	Added Co-Sponsor Rep. Eileen Lyons
2/25/2004	House	Added Co-Sponsor Rep. James H. Meyer
1/11/2005	House	Session Sine Die

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