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1
HOUSE RESOLUTION

 
2    WHEREAS, The Economic Development for a Growing Economy
3(EDGE) Tax Credit Program is an economic development tool
4operated by the Illinois Department of Commerce and Economic
5Opportunity; and
 
6    WHEREAS, The EDGE Tax Credit Program is a targeted
7incentive program that provides tax credits for businesses that
8create new full-time jobs, retain existing full-time jobs, and
9make capital investments in Illinois; and
 
10    WHEREAS, The EDGE Tax Credit Program is designed to help
11areas of Illinois that are in direct competition with other
12states for jobs and development; and
 
13    WHEREAS, According to the 2017 EDGE Annual Report, since
141999 nearly $1.7 billion in tax credits have been issued,
1541,238 jobs were reported to have been created, and 46,160 jobs
16were reported to have been retained; and
 
17    WHEREAS, According to the FY17 Comprehensive Annual
18Financial Report, the State of Illinois abated income taxes
19totaling approximately $179.1 million through the EDGE program
20for FY17; and
 

 

 

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1    WHEREAS, Public Act 100-511 made significant changes to and
2extended the EDGE Tax Credit Program; therefore, be it
 
3    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
4HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
5the Auditor General is directed to conduct a performance audit
6of the Department of Commerce and Economic Opportunity's
7Economic Development for a Growing Economy (EDGE) Tax Credit
8Program; and be it further
 
9    RESOLVED, That the performance audit shall include, but not
10be limited to, the following determinations:
11        (1) Whether the Department is administering the EDGE
12    program in accordance with applicable laws, rules,
13    policies, and procedures;
14        (2) Whether the Department is adequately monitoring
15    EDGE recipients;
16        (3) Whether the Department has implemented the changes
17    required under Public Act 100- 511;
18        (4) Whether the Department is regularly assessing the
19    effectiveness of the EDGE program; and
20        (5) Whether the EDGE tax incentives in Illinois are
21    similar to programs in surrounding states; and be it
22    further
 
23    RESOLVED, That the audit include an analysis of the amount

 

 

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1of tax credits approved and the number of jobs created or
2retained; and be it further
 
3    RESOLVED, That the Department of Commerce and Economic
4Opportunity cooperate fully and promptly with the Auditor
5General in the conduct of this audit; and be it further
 
6    RESOLVED, That the Auditor General commence this audit as
7soon as possible and submit his report, including his findings
8and recommendations, upon completion in accordance with the
9provisions of Section 3-14 of the Illinois State Auditing Act;
10and be it further
 
11    RESOLVED, That a copy of this resolution be delivered to
12the Auditor General and the Department of Commerce and Economic
13Opportunity.