Illinois Administrative Code › Title 14 - COMMERCE › Part 520 - ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS › Subpart P - HIGH IMPACT SERVICE FACILITY MACHINERY AND EQUIPMENT SALES TAX EXEMPTION › Section 520.1620 - Form of Application

Current through Register Vol. 48, No. 28, July 12, 2024
An application shall be submitted on the standard application
				  form provided by the Department. An application shall include:
a) Investment Information. A description of
				the eligible investment with documentation to substantiate that the planned
				investment is eligible (e.g., balance sheets, construction schedules,
				schematics, and specifications, or lists and the cost of equipment purchased);
				and a spending plan and financial commitments demonstrating that the business
				enterprise will place the investment in service within eight years after
				certification.
b) Job Information.
				Information on new employment that will occur in the Enterprise Zone as a
				result of the investment, which includes, by job titles, the number of
				employees; and an explanation of how and why the investment causes the creation
				of full-time employees or full-time equivalent employees.
c) Certification. A signed and dated
				statement indicating that the data and information in the application is true
				and correct, that the Department shall be provided access to any material,
				documentation, or other data required to verify application information, and a
				statement that the number of jobs created shall be maintained for the term of
				the exemption, otherwise the Department will be notified and the exemption
				terminated.
d) Legally Binding
				Agreement. A dated statement executed by the Chief Executive Officer of the
				business enterprise and the Director of the Department obligating the business
				enterprise to create 750 or more full-time or full-time equivalent jobs and
				place in service a minimum of $100 million in qualified property at a High
				Impact Service Facility located in an Enterprise Zone within eight years. The
				agreement shall state that should the business fail to place in service the
				eligible investment in qualified property within eight years following
				certification, the business shall be decertified for the tax exemption and
				required to repay the exempted taxes, plus any penalties and interest as
				determined by the Department of Revenue. The agreement shall also state that
				the business shall submit quarterly progress reports describing the progress
				made toward the creation of 750 or more full-time or full-time equivalent jobs
				and the investment of $100 million in qualified property at the High Impact
				Service Facility, and that failure to do so shall result in termination of the
				exemption.
e) The Chief Executive
				Officer of the business enterprise must sign and immediately return to the
				Department a Company Tax Certification form that states that the business
				enterprise is in good standing, authorized to do business in Illinois and has
				no delinquent tax liabilities.
f)
				The business enterprise further authorizes the Department to seek a tax
				clearance letter from the Illinois Department of Revenue and authorizes the
				Department of Revenue to provide such letter stating whether the records of the
				Department of Revenue show that the business enterprise is in compliance with
				all tax Acts administered by the Department of Revenue and to which the
				business enterprise is subject.
g)
				The business enterprise also certifies that no tax liens, including, but not
				limited to, municipal, county, State or federal liens, have been filed against
				the business enterprise or majority shareholders of the business enterprise, or
				in the name of related business owned by the applicant.
h) The business enterprise certifies that all
				the information contained in the application, including the documentation, is
				true to the best of his/her knowledge and belief.