Bill > HB2360

This bill, known as the Local Government Business Anti-Poaching Act, aims to prevent municipalities and counties in Illinois from offering economic incentives to businesses seeking to relocate their headquarters or operations within the state. The bill defines "incentive" broadly as any economic, financial, or other benefit, including tax credits, property tax reductions, abatements, or fee reductions authorized under various state laws. Specifically, the legislation prohibits local governments from providing any incentives to businesses that want to move their operations from one location to another within Illinois after the bill's effective date. Additionally, the bill explicitly limits home rule powers, stating that regulating such business relocations is exclusively a state function. By doing so, the legislation seeks to discourage internal competition between local jurisdictions that might use financial incentives to attract businesses already operating within the state, with the intent of promoting stability in local business ecosystems and preventing potentially wasteful economic development strategies.