Current through Register Vol. 48, No. 52, December 27, 2024
a)
Applications will be accepted at any time during the year. The Department will
provide interested Applicants with an application package upon request.
Submittal of an application does not commit the Department to award assistance
or to pay any costs, including the application fee, incurred by the Applicant
in the preparation of an application.
b)
Any Taxpayer proposing a Project
located or planned to be located in Illinois may request
considerationof its Project, by application
to the Department, in which the Applicant states its intent to make at
least a specified level of investment, if the Applicant has more than
100 employees, and intends to hire or retain a specified number of
Full-time Employees at a designated location in Illinois as set forth
in Section 5-20 of the Act. [
35 ILCS
10/5-20(a)]
c) Written applications will be required and
must be submitted on the standard application form provided by the Department.
Applications shall be submitted to the Department office location identified on
the application. The application shall include:
1) Application Cover Page - containing name,
address, and telephone number of Applicant; key contact and title; total number
of new employees to be hired and, when applicable, the number of Full-time
Employees to be retained; company Federal Employer Identification Number
(F.E.I.N.); Standard Industrial Code (S.I.C.); if available, Illinois
Unemployment Insurance Account Code; State Senate District number; State
Representative District number; authorized signatures; and related
information.
2) Project Summary -
a detailed description of the Project that is to be
the subject of the Agreement. [
35 ILCS
10/5-50(l)]
3) Site Map - an outline of the general
location of the Project on a site map, including the location of any flood
plain areas and wetland areas.
4)
Jobs Impact -
a detailed description of the number of New Employees to
be hired and the occupation and payroll of the full-time jobs to be
created [35 ILCS
10/5-50(9)] as a result of the
Project, and a schedule of anticipated starting dates of the new hires. In
addition, the Applicant must provide the total number of Full-time Employees
employed by the Applicant and any Related Member, subsidiary, parent, or sister
company in the State of Illinois at the time of the application. If the
Applicant seeks a Credit with respect to Retained Employees, the application
shall include, the occupation and payroll of the Full-time Employees to be
retained as a result of the Project.
5) Capital Improvements Planned - a detailed
description of
the investment the Taxpayer
will make
in Capital Improvements, and the designated location in Illinois for the
investment. [
35 ILCS
10/5-50(10)] This shall include but
not be limited to a description (or specifications or lists) of the planned
Capital Improvements demonstrating the investment is qualified; documentation
to substantiate the value of the investment (value of Capital Improvements as
provided by appraisers, vendors, contractors and/or architects and engineers);
and a schedule regarding when the eligible investment will be placed in
service.
6) Total Project Costs - a
detailed description of total Project Cost as defined in Section
527.20.
7) Competitive Requirements of the Project -
evidence supplied by the Applicant demonstrating that,
if not for the
Credit, the Project would not occur in Illinois, which may be demonstrated by
evidence that receipt of the Credit is essential to the Applicant's decision to
create new jobs in the State, such as the magnitude of the cost differential
between Illinois and a competing state. In the event that
the
Applicant is seeking an increase in the amount of the credit for Retained
Employees,
the Applicant must provide documentation:
A) evidencing that
the Applicant has
multi-state location options and could reasonably and efficiently locate
outside of the State. An example of this evidence includes
documentation indicating firm interest in alternative non-Illinois locations,
such as a prospective offer or letter;
or
B) demonstrating
that at least one
other state is being considered for the Project, for example,
disclosure of sites of out-of-state location options that would receive the
proposed investment and job creation in the event the business is not
designated, which may include documentation such as incentive letters or
prospective offers from other states. [
35 ILCS
10/5-25]
8) Cost Differential - documentation of a
cost differential of alternative out-of-state sites, such as written
information on non-Illinois sites under consideration, comparison of industry
costs in other states, cost/benefit analyses of moving or closing the business,
financial statements, internal memoranda, or any other financial documentation
evidencing cost differential.
9)
Financial Statement - a balance sheet and a profit and loss statement of the
Taxpayer for the last two years.
10) Other Provisions - any other provisions
or information the Department determines is necessary to facilitate the
Department's evaluation of the application.
d) The Applicant is responsible for the
accuracy of all data, information and documentation included in its
application. Once submitted, applications shall become the property of the
Department.
e) Applications will
not be evaluated unless the application fee has been included.
f)
Any documentary materials or data
made available or received by any member of a business development or
other Committee formed by the Department or any agent
or employee of the Department shall be deemed confidential and shall not be
deemed public records to the extent that the materials or data consist of trade
secrets, commercial or financial information regarding the operation of the
business conducted by the Applicant for, or recipient of, any tax credit under
the Act, or any information regarding the competitive position of a business in
a particular field of endeavor. [
35 ILCS
10/5-90(a)]