Deletes everything after the enacting clause. Amends the Income Tax Act, provides that the film production services credit (i) may be transferred in accordance with rules adopted by the Department of Commerce and Economic Opportunity and (ii) may be carried forward 5 years. Amends the Film Production Services Tax Credit Act, provides that, for Illinois labor expenditures generated by the employment of residents of geographic areas of high poverty or high unemployment in an accredited production approved by the Department after January 1, 2005, the applicant shall receive an enhanced credit 10% in addition to the 25% credit. Provides that the Department of Commerce and Economic Opportunity may use training programs for skills in critical demand to accomplish the purposes of the Act. Requires the Department of Commerce and Economic Opportunity to submit a report concerning the tax credit program to the General Assembly at the end of each fiscal quarter. Provides that the Act is repealed on January 1, 2007 (now, the Act is scheduled to be repealed on January 1, 2006). Makes other changes. Effective immediately.
Deletes everything after the enacting clause. Reinserts the provisions of the bill as amended by Senate Amendment No. 1 with the following changes: Further amends the Film Production Services Tax Credit Act. In a Section concerning the review of applications for accredited production certificates, includes a requirement that: (i) the applicant must file a diversity plan with the Department of Commerce and Economic Opportunity that sets out the applicant's goal for hiring minority persons and females and sets out the applicant's goal for using vendors who are certified under the Business Enterprise for Minorities, Females, and Persons with Disabilities Act; (ii) the Department must approve the diversity plan; and (iii) the Department must verify that the applicant has met or made good-faith efforts in achieving those goals set forth in the diversity plan (now, the application must include a provision setting forth the percentage of minority workers that the production company plans to employ, subject to any applicable collective bargaining agreements with a labor organization to which the applicant is a signatory, to perform work on the production.). Requires the Department of Commerce and Economic Opportunity to adopt necessary rules. Effective immediately.