(30 ILCS 760/15) (from Ch. 48, par. 2715)
Sec. 15.
Notice of closing.
(a) A private entity required to provide notice under the federal
Worker Adjustment and Retraining Notification Act and receiving State or
local economic development incentives for doing or continuing to do
business in this State, in addition to the notice required under the
federal law, shall also provide at the same time a copy of that federal
notice to the Governor, the Speaker and Minority Leader of the House of
Representatives, the President and Minority Leader of the Senate, and the
Mayor of each municipality where the private entity has locations in this
State.
(b) If a private entity receiving State or local economic development
incentives does not give the notice required by subsection (a), then all or
part of the State or local economic development incentives may be
terminated and the due date of all or part of any indebtedness to the State
or unit of local government may be accelerated by notice to the private entity.
(c) At the time a private entity begins to receive State or local
economic development incentives, it shall be advised in writing of the
requirements of this Section by the State or local government unit. No
private entity shall be penalized by the failure of the State or local
government unit to provide timely notice.
(d) This Section applies to economic development incentives provided
after the effective date of this Act.
(Source: P.A. 87-130.)
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