Current through Register Vol. 48, No. 12, March 22, 2024
a) In
determining whether the live theater tax credit program is effective in
creating and retaining jobs in Illinois, the Department is responsible for
determining the overall success of the program. Correspondingly, on a quarterly
basis, the Department is required to advise the Illinois General Assembly of
the live theater tax credit program's economic impact. The Department's
evaluation shall include:
1) An assessment of
the effectiveness of the program in creating and retaining new jobs in
Illinois;
2) An assessment of the
revenue impact of the program;
3)
In the discretion of the Department, a review of the practices and experiences
of other states or nations with similar programs; and
4) An assessment of the overall success of
the program. The Department may make a recommendation to extend, modify, or not
extend the program based on the evaluation. [35
ILCS 17/10-50 ]
b) At the end of each fiscal quarter, the
Department shall submit to the General Assembly a report that includes, without
limitation:
1) An assessment of the economic
impact of the program, including the number of jobs created and retained, and
whether the job positions are entry level, management, vendor, or production
related;
2) The amount of
accredited theater production spending brought to Illinois, including the
amount of spending and type of Illinois vendors hired in connection with an
accredited theater production; and
3) A determination of whether those receiving
qualifying Illinois labor expenditure salaries or wages reflect the
geographical, racial and ethnic, gender, and income level diversity of the
State of Illinois. [35
ILCS 17/10-50(b) ]
c) At the end of each fiscal year,
the Department shall submit to the General Assembly a report that includes,
without limitation:
1) The identification of
each vendor that provided goods or services that were included in an accredited
theater production's Illinois production spending;
2) A statement of the amount paid to each
identified vendor by the accredited theater production and whether the vendor
is a minority or female owned business as defined in Section 2 of the Business
Enterprise for Minorities, Females, and Persons with Disabilities Act;
and
3) A description of the steps
taken by the Department to encourage accredited theater productions to use
vendors who are minority or female owned businesses. [35
ILCS 17/10-50(c) ]
