Illinois Administrative Code › Title 14 - COMMERCE › Part 520 - ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS › Subpart Q - AIRCRAFT SUPPORT CENTER SALES TAX EXEMPTION › Section 520.1700 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
The following definitions are applicable to this Subpart
				  Q:
"Act" means Section 1o of the Retailers' Occupation Tax Act
				  [35 ILCS
				  120/1o ].
"Aircraft support center" means a support center operated by
				  a carrier for hire that is used primarily for the maintenance, rebuilding, or
				  repair of aircraft, aircraft parts, and auxiliary equipment.
"Contractually obligated" means the business enterprise has
				  entered into a legally binding agreement with the Department to comply with
				  Section 1o of the Retailers' Occupation Tax Act.
"Department" means the Department of Commerce and Economic
				  Opportunity.
"Eligible investments" means a $30,000,000 investment in
				  qualified property at a joint use military and civilian airport at a federal
				  Air Force Base that will be placed in service at an airport support center
				  located in a joint use military and civilian airport at a federal Air Force
				  Base. Qualified properties are statutorily defined in Section 201(f) of the
				  Illinois Income Tax Act [35 ILCS
				  5/201(f) ] or are
				  noncapital/nonroutine investments, and associated service costs (direct labor
				  or contractual fees) that will be placed in service at an airport support
				  center located in a joint use military and civilian airport at a federal Air
				  Force Base and made for the improvement or renovation of qualified properties.
				  These activities are used primarily for the maintenance, rebuilding, or repair
				  of aircraft, aircraft parts, and auxiliary equipment.
"Full-time equivalent job" means a job in which the new
				  employee works for the recipient or for a corporation under contract to the
				  recipient at a rate of at least 35 hours per week. A recipient who employs
				  labor or services at a specific site or facility under contract with another
				  may declare one full-time, permanent job for every 1,820 man hours worked per
				  year under that contract. Vacations, paid holidays, and sick time are included
				  in this computation. Overtime is not considered a part of regular hours.
				  [20 ILCS
				  655/3(i) ]
"Full-time retained job" means any employee defined as having
				  a full-time or full-time equivalent job preserved at a specific facility or
				  site, the continuance of which is threatened by a specific and demonstrable
				  threat, which shall be specified in the application for development assistance.
				  A recipient who employs labor or services at a specific site or facility under
				  contract with another may declare one retained employee per year for every
				  1,750 man hours worked per year under that contract, even if different
				  individuals perform on-site labor or services. [20 ILCS
				  655/3(j) ]
"Job creation" means at least 750 full-time equivalent
				  employees have been hired at an airport support center located in a joint use
				  military and civilian airport at a federal Air Force Base. Job titles being
				  filled or refilled as a result of strikes cannot be computed as job
				  creation.
"New employee" means a full-time equivalent job that
				  represents a net increase in the number of the recipient's employees statewide.
				  "New employee" includes an employee who previously filled a new employee
				  position with the recipient who was rehired or called back from a layoff that
				  occurs during or following the base years. The term "new employee" does not
				  include any of the following:
An employee of the recipient who performs a job that was
				  previously performed by another employee in this State, if that job existed in
				  this State for at least 6 months before hiring the employee;
Any individual who has a direct or indirect ownership
				  interest of at least 5% in the profits, capital or value of any member of the
				  recipient;
A child, grandchild, parent or spouse, other than a spouse
				  who is legally separated from the individual, of any individual who has a
				  direct or indirect ownership interest of at least 5% in the profits, capital or
				  value of any member of the recipient;
Employee positions being filled or refilled as a result of
				  strikes or layoffs or replacement workers to replace recipient company locked
				  out employees.
"Placed in service" means the state or condition of readiness
				  and availability for a specifically assigned function as defined in 26 CFR 1.46
				  - 3(d). Eligible investments as defined in this Section shall be considered
				  placed in service on the earlier of: the date the property is placed in a
				  condition of readiness and availability for use or the date on which the
				  depreciation period of that property begins.