97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0012

 

Introduced 1/27/2011, by Sen. Michael Noland

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 715/10

    Amends the Corporate Accountability for Tax Expenditures Act. Makes a technical change in a Section concerning an annual budget.


LRB097 06630 HLH 46715 b

 

 

A BILL FOR

 

SB0012LRB097 06630 HLH 46715 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Corporate Accountability for Tax
5Expenditures Act is amended by changing Section 10 as follows:
 
6    (20 ILCS 715/10)
7    Sec. 10. Unified Economic Development Budget.
8    (a) For each State fiscal year ending on or after June 30,
92005, the the Department of Revenue shall submit an annual
10Unified Economic Development Budget to the General Assembly.
11The Unified Economic Development Budget shall be due within 3
12months after the end of the fiscal year, and shall present all
13types of development assistance granted during the prior fiscal
14year, including:
15        (1) The aggregate amount of uncollected or diverted
16    State tax revenues resulting from each type of development
17    assistance provided in the tax statutes, as reported to the
18    Department of Revenue on tax returns filed during the
19    fiscal year.
20        (2) All State development assistance.
21    (b) All data contained in the Unified Economic Development
22Budget presented to the General Assembly shall be fully subject
23to the Freedom of Information Act.

 

 

SB0012- 2 -LRB097 06630 HLH 46715 b

1    (c) The Department of Revenue shall submit a report of the
2amounts in subdivision (a)(1) of this Section to the
3Department, which may append such report to the Unified
4Economic Development Budget rather than separately reporting
5such amounts.
6(Source: P.A. 93-552, eff. 8-20-03.)