Rep. Jack D. Franks

Filed: 3/5/2012

 

 


 

 


 
09700HB3934ham003LRB097 15154 HLH 67154 a

1
AMENDMENT TO HOUSE BILL 3934

2    AMENDMENT NO. ______. Amend House Bill 3934, AS AMENDED, by
3replacing everything after the enacting clause with the
4following:
 
5    "Section 5. The Economic Development for a Growing Economy
6Tax Credit Act is amended by changing Section 5-40 as follows:
 
7    (35 ILCS 10/5-40)
8    Sec. 5-40. Determination of Amount of the Credit. In
9determining the the amount of the Credit that should be
10awarded, the Committee shall provide guidance on, and the
11Department shall take into consideration, the following
12factors:
13        (1) The number and location of jobs created and
14    retained in relation to the economy of the county where the
15    projected investment is to occur.
16        (2) The potential impact on the economy of Illinois.

 

 

09700HB3934ham003- 2 -LRB097 15154 HLH 67154 a

1        (3) The magnitude of the cost differential between
2    Illinois and the competing state.
3        (4) The incremental payroll attributable to the
4    project.
5        (5) The capital investment attributable to the
6    project.
7        (6) The amount of the average wage and benefits paid by
8    the Applicant in relation to the wage and benefits of the
9    area of the project.
10        (7) The costs to Illinois and the affected political
11    subdivisions with respect to the project.
12        (8) The financial assistance that is otherwise
13    provided by Illinois and the affected political
14    subdivisions.
15(Source: P.A. 91-476, eff. 8-11-99.)".