Bill > SB1838

This bill amends the Corporate Accountability for Tax Expenditures Act to expand eligibility for the Department of Transportation's Economic Development Program by adding a specific provision for counties with populations between 25,000 and 50,000 residents. Specifically, the bill allows applicants seeking development assistance for new office construction or office relocation projects that retain at least 100 jobs within the same county to qualify for assistance. The bill details the standard application requirements for development assistance, which include providing comprehensive information such as an application tracking number, detailed employer and project site information, current and projected employment numbers, types and value of assistance requested, job creation and retention metrics, occupation classifications, anticipated wages, and a narrative explaining the need for development assistance. These standardized application requirements aim to provide transparency and accountability for state development assistance programs, ensuring that potential recipients provide comprehensive information about their proposed projects and potential economic impact.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1838&GAID=18&DocTypeID=SB&SessionID=114&GA=104