Current through Register Vol. 47, No. 38, September 22, 2023
a)
Enterprise Zone
1) Minimum Eligible
Investment. Eligibility for the tax exemption is contingent on the business
making:
A) a minimum eligible investment of
$5 million in an Enterprise Zone that causes the creation of a minimum of 200
full-time equivalent jobs in Illinois, or
B) a minimum eligible investment of $40
million in an Enterprise Zone that causes the retention of a minimum of 2,000
full-time jobs in Illinois; or
C) a
minimum eligible investment of $40 million that causes the retention of at
least 90% of the jobs in place on the date on which the exemption is granted
for the duration of the exemption.
2) More Than One Facility. Businesses owning
and operating more than one facility located in Illinois Enterprise Zones shall
qualify for this exemption by combining their investments and jobs created or
retained if the business can demonstrate that the manufacturing processes at
each location are interrelated. The Department considers the manufacturing
processes to be interrelated if the facilities act as one functional unit in
the manufacture of the final product. Proof of such interrelationship shall
include, but is not limited to, internal memoranda, flow charts, narrative
descriptions, organization charts, annual reports, or any other written
documentation that demonstrates that the manufacturing processes are
interrelated. The majority of jobs shall be located in one or more Illinois
Enterprise Zones.
b)
High Impact Business
Minimum. In the case of a designated High Impact Business,
eligibility is contingent on the business making a minimum eligible investment
of $12 million placed in service in qualified property at a designated location
in Illinois, which causes the creation of 500 full-time equivalent jobs at the
designated location; or making a minimum eligible investment of $30 million
placed in service in qualified property in a designated location in Illinois,
which causes the retention of 1,500 full-time equivalent jobs at a designated
location in Illinois.
Amended at 38 Ill. Reg. 457, effective December 20,
2013
