Current through Register Vol. 48, No. 38, September 20, 2024
a)
Applications will be accepted at any time during the year. An application
should be submitted on the standard application form provided by the Department
and posted to the Department's website (https://dceo.illinois.gov/businesshelp/rev.html).
Submittal of an application does not commit the Department to award assistance
or to pay any costs incurred by the applicant in the preparation of an
application.
b)
Any
taxpayer planning a project to be located in Illinois may request consideration
for the designation of its project as a REV Illinois project, by application to
the Department, in which the Applicant states its intent to make at least a
specified level of investment and intends to hire a specified number of
full-time employees at a designated location in Illinois as set forth
in Section 20 of the Act. [20 ILCS
686/20(b)]
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 designated Department email address
(CEO.REV@Illinois.gov) and also identified on the application form. There is no
application fee and 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. [20 ILCS
686/45(a)(1)]
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 or
retained 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 because of the project. [20 ILCS
686/45(a)(9)]
5) Capital Improvements Planned - a detailed
description of the minimum investment the taxpayer will make in capital
improvements, the time period for placing the property in service, and the
designated location in Illinois for the investment. 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. [20 ILCS
686/45(a)(10)]
6) Total Project Costs - a detailed
description of the total project cost.
7) Statewide Baseline - a detailed
description of full-time employees of the applicant and any related members
employed by such entities at the time of the application. The information
provided for the current full-time employees shall include the following: name,
position title, occupation code, date of hire, and facility address.
8) Hiring plan - a detailed description of
applicant's hiring plan and commitment to recruit and hire full-time
employee positions at the project site. The hiring plan may include a
partnership with an institution of higher education to provide internships,
including, but not limited to, internships supported by the Clean Jobs
Workforce Network Program, or full-time permanent employment for students at
the project site. Additionally, the applicant may create or utilize
participants from apprenticeship programs that are approved by and registered
with the United States Department of Labor's Bureau of Apprenticeship and
Training. The Applicant may apply for apprenticeship education expense credits
in accordance with the provisions set forth in 14 Ill. Adm. Code 522. For
existing facilities of applicants under Section
580.30(b)(4)
, if the taxpayer expects a reduction in force due to its transition to
manufacturing electric vehicles, electric vehicle component parts, or electric
vehicle power supply equipment, the plan submitted under this Section must
outline the taxpayer's plan to assist with retraining its workforce aligned
with the taxpayer's adoption of new technologies and anticipated efforts to
retrain employees through employment opportunities with the taxpayer's
workforce. [20 ILCS 686/20]
9) Recycling Capabilities - Each
applicant must demonstrate a contractual or other relationship with a recycling
facility, or demonstrate its own recycling capabilities, at the time of
application. [20 ILCS
686/20(g)]
10) Financial Statement - a balance sheet and
a profit and loss statement of the taxpayer for the last two years.
11) Other Provisions - any other provisions
or information the Department determines is necessary to evaluate the
applicant's eligibility under the Act and if the criteria established in
Section 580.30 are met.
d) An applicant that is
subject to an existing agreement under the Economic Development for a Growing
Economy Tax Credit Act may apply to the Department to amend the agreement to
allow the project in that agreement to become a designated REV
Illinois project by submitting an application form. If approved,
the time accrued during which the project was eligible for credits
under the existing agreement under the Economic Development for a Growing
Economy Tax Credit Act shall count toward the duration of the credit subject to
the limitations described in Section 40 of the Act. [20 ILCS
686/30(h)]
e) 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.
