35 ILCS 45/110-10 — Illinois Code / Chapter 35 / Act 45 / Section 110-10
Section 110-10
Status: in_force

(35 ILCS 45/110-10) Sec. 110-10. Definitions. As used in this Act: "Agreement" means the agreement between a taxpayer and the Department under the provisions of this Act. "Applicant" means a taxpayer that: (i) operates a business in Illinois as a quantum computer manufacturer, a semiconductor manufacturer, a microchip manufacturer, or a manufacturer of quantum computer, semiconductor, or microchip component parts or a business in Illinois that primarily engages in research and development in the manufacturing of quantum computers, semiconductors, or microchips; or (ii) is planning to locate a business within the State of Illinois as a quantum computer manufacturer, a semiconductor manufacturer, a microchip manufacturer, or a manufacturer of quantum computer, semiconductor, or microchip component parts or a business within the State of Illinois that primarily engages in research and development in the manufacturing of quantum computers, semiconductors, or microchips. For the purposes of this definition, a business primarily engages in research and development in the manufacturing of quantum computers, semiconductors, or microchips if at least 50% of its business activities involve research and development in the manufacturing of quantum computers, semiconductors, or microchips. "Applicant" does not include a taxpayer who closes or substantially reduces by more than 50% operations at one location in the State and relocates substantially the same operation to another location in the State. This does not prohibit a taxpayer from expanding its operations at another location in the State. This also does not prohibit a taxpayer from moving its operations from one location in the State to another location in the State for the purpose of expanding the operation, provided that the Department determines that expansion cannot reasonably be accommodated within the municipality or county in which the business is located, or, in the case of a business located in an incorporated area of the county, within the county in which the business is located, after conferring with the chief elected official of the municipality or county and taking into consideration any evidence offered by the municipality or county regarding the ability to accommodate expansion within the municipality or county. "Capital improvements" means the purchase, renovation, rehabilitation, or construction of permanent tangible land, buildings, structures, equipment, and furnishings in an approved project sited in Illinois and expenditures for goods or services that are normally capitalized, including organizational costs and research and development costs incurred in Illinois. For land, buildings, structures, and equipment that are leased, the lease must equal or exceed the term of the agreement, and the cost of the property shall be determined from the present value, using the corporate interest rate prevailing at the time of the application, of the lease payments. "Credit" or "MICRO credit" means a credit agreed to between the Department and applicant under this Act. "Department" means the Department of Commerce and Economic Opportunity. "Director" means the Director of Commerce and Economic Opportunity. "Energy Transition Area" means a county with less than 100,000 people or a municipality that contains one or more of the following: (1) a fossil fuel plant that was retired from service or has significant reduced service