Illinois Administrative Code › Title 14 - COMMERCE › Part 523 - INTERMODAL FACILITIES PROMOTION PROGRAM › Section 523.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Act" means the Intermodal Facilities Promotion Act [30 ILCS
				743 ].
"Agreement" means the agreement between an eligible developer
				and the Department under Section 30 of the Act.
"Application" means a request for program funds, including the
				required information and attachments.
"Department" means the Department of Commerce and Economic
				Opportunity.
"Director" means the Director of the Department of Commerce and
				Economic Opportunity.
"Eligible developer" means an individual, partnership,
				corporation, or other entity that develops an intermodal terminal facility in
				the City of Joliet.
"Eligible employer" means an individual, partnership,
				corporation, or other entity that employs full-time employees at an intermodal
				terminal facility in the City of Joliet.
"Full-time employee" means an individual who is employed for
				consideration for at least 35 hours each week or who renders any other standard
				of service generally accepted by industry custom or practice as full-time
				employment. An individual for whom a W-2 is issued by a Professional Employer
				Organization (PEO) is a full-time employee if employed in the service of the
				eligible employer for consideration for at least 35 hours each week or who
				renders any other standard of service generally accepted by industry custom or
				practice as full-time employment.
"Grant" means funds that require no repayment to be used by an
				eligible developer.
"Incremental income tax" means the total amount withheld from
				the compensation of new employees under Article 7 of the Illinois Income Tax
				Act [35 ILCS 5 ] arising from employment by an eligible employer.
"Infrastructure" means roads, access roads, streets, bridges,
				sidewalks, water and sewer line extensions, water distribution and purification
				facilities, waste disposal systems, sewage treatment facilities, stormwater
				drainage and retention facilities, gas and electric utility line extensions, or
				other improvements that are essential to the development of the project that is
				the subject of an agreement.
"Intermodal terminal facility" means a cohesively planned
				project consisting of at least 2,000 acres of land, improvements to that land,
				equipment, and appliances necessary for the receipt and transfer of goods
				between one mode of transportation and another and for the assembly and storage
				of those goods.
"New employee" means a full-time employee first employed by an
				eligible employer in the project that is the subject of an agreement between
				the Department and an eligible developer and who is hired after the eligible
				developer enters into the agreement, but does not include:
an employee of the eligible employer who performs a job that
				existed for at least 6 months before the employee was hired and was previously
				performed by another employee;
an employee of the eligible employer who was previously
				employed in Illinois by a related member of the eligible employer and whose
				employment was shifted to the eligible employer after the eligible employer
				entered into the agreement;
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
				an indirect ownership interest of at least 5% in the profits, capital, or value
				of the eligible employer; or
any individual who has a direct or an indirect ownership
				interest of at least 5% in the profits, capital, or value of the eligible
				employer.
Notwithstanding the second indented paragraph of this
				definition, an employee may be considered a new employee under the agreement if
				the employee performs a job that was previously performed by an employee who
				was treated under the agreement as a new employee and promoted by the eligible
				employer to another job.
Notwithstanding any provision to the contrary, an employee
				employed in a part of the project that lies within a business district created
				pursuant to Division 74.3 of Article 11 of the Illinois Municipal Code [65 ILCS
				5/11-74.3] or a redevelopment project area created pursuant to the Tax
				Increment Allocation Redevelopment Act [65 ILCS 5/11-74.4] shall not be
				considered a new employee.
"Professional Employer Organization" or "PEO" means an employee
				leasing company, as defined in Section 206.1(A)(2) of the Illinois Unemployment
				Insurance Act [820 ILCS
				405/206.1 ]. [30 ILCS
				743/10 ]
"Project" means an endeavor undertaken, during a specified time
				period and at a specified location, by an eligible developer to construct an
				intermodal terminal facility.
"Project costs" means the cost of the project incurred or to be
				incurred by the eligible developer, including infrastructure costs, but
				excludes the value of State or local incentives, including tax increment
				financing and deductions, credits, or exemptions afforded to an employer
				located in an enterprise zone. [30 ILCS
				743/30(1) ]
"Related member" means a person or entity that, with respect to
				the eligible employer during any portion of the taxable year, is any one of the
				following:
an individual stockholder, if the stockholder and the members
				of the stockholder's family (as defined in section 318 of the Internal Revenue
				Code (
				26 USC
				318 )) own directly, indirectly,
				beneficially, or constructively, in the aggregate, at least 50% of the value of
				the eligible employer's outstanding stock;
a partnership, estate, or trust and any partner or beneficiary,
				if the partnership, estate, or trust, and its partners or beneficiaries own
				directly, indirectly, or beneficially, or constructively, in the aggregate, at
				least 50% of the profits, capital, stock, or value of the eligible
				employer;
a corporation and any party related to the corporation in a
				manner that would require an attribution of stock from the corporation to the
				party or from the party to the corporation under the attribution rules of
				section 318 of the Internal Revenue Code, if the taxpayer owns directly,
				indirectly, beneficially, or constructively at least 50% of the value of the
				corporation's outstanding stock;
a corporation and any party related to that corporation in a
				manner that would require an attribution of stock from the corporation to the
				party or from the party to the corporation under the attribution rules of
				section 318 of the Internal Revenue Code, if the corporation and all such
				related parties own in the aggregate at least 50% of the profits, capital,
				stock, or value of the eligible employer; or
a person to or from whom there is attribution of stock
				ownership in accordance with section 1563(e) of the Internal Revenue Code,
				except, for purposes of determining whether a person is a related member under
				this definition, 20% shall be substituted for 5% wherever 5% appears in section
				1563(e) of the Internal Revenue Code. [30 ILCS 743/10]