Illinois 2023-2024 Regular Session

Illinois House Bill HB2905 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2905 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED: 35 ILCS 10/5-57 Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years. LRB103 29604 HLH 55999 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2905 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED: 35 ILCS 10/5-57 35 ILCS 10/5-57 Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years. LRB103 29604 HLH 55999 b LRB103 29604 HLH 55999 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2905 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 10/5-57 35 ILCS 10/5-57
4	4	35 ILCS 10/5-57
5	5	Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years.
6	6	LRB103 29604 HLH 55999 b LRB103 29604 HLH 55999 b
7	7	LRB103 29604 HLH 55999 b
8	8	A BILL FOR
9	9	HB2905LRB103 29604 HLH 55999 b HB2905 LRB103 29604 HLH 55999 b
10	10	HB2905 LRB103 29604 HLH 55999 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Economic Development for a Growing Economy
15	15	5 Tax Credit Act is amended by changing Section 5-57 as follows:
16	16	6 (35 ILCS 10/5-57)
17	17	7 Sec. 5-57. Supplier diversity goals; reports. Each
18	18	8 taxpayer claiming a credit under this Act shall, no later than
19	19	9 April 15 of each taxable year for which the taxpayer claims a
20	20	10 credit under this Act, submit to the Department of Commerce
21	21	11 and Economic Opportunity an annual report containing the
22	22	12 information described in subsections (b), (c), (d), and (e) of
23	23	13 Section 5-117 of the Public Utilities Act. Those reports shall
24	24	14 be submitted in the form and manner required by the Department
25	25	15 of Commerce and Economic Opportunity.
26	26	16 The Department shall not issue a tax certificate to any
27	27	17 taxpayer under this Act unless the taxpayer first submits a
28	28	18 supplier diversity report to the Department as required by
29	29	19 this Act. Failure to file a supplier diversity report as
30	30	20 required by this Act renders a taxpayer non-responsive to any
31	31	21 Agreement with the Department and ineligible to receive a tax
32	32	22 certificate or file a tax credit for that year. The Department
33	33	23 shall publish on its website all supplier diversity reports
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2905 Introduced , by Rep. William "Will" Davis SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 10/5-57 35 ILCS 10/5-57
39	39	35 ILCS 10/5-57
40	40	Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that the Department of Commerce and Economic Opportunity shall not issue a tax certificate to any taxpayer under this Act unless the taxpayer first submits a supplier diversity report. Provides that the Department of Commerce and Economic Opportunity shall publish on its website all supplier diversity reports filed by taxpayers under this Act and maintain those reports for at least 5 years.
41	41	LRB103 29604 HLH 55999 b LRB103 29604 HLH 55999 b
42	42	LRB103 29604 HLH 55999 b
43	43	A BILL FOR
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49	49	35 ILCS 10/5-57
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66	66	HB2905- 2 -LRB103 29604 HLH 55999 b HB2905 - 2 - LRB103 29604 HLH 55999 b
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68	68	1 filed by taxpayers under this Act and maintain those reports
69	69	2 for at least 5 years.
70	70	3 (Source: P.A. 100-451, eff. 8-25-17; 100-511, eff. 9-18-17.)
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76	76	HB2905 - 2 - LRB103 29604 HLH 55999 b