Illinois Administrative Code › Title 14 - COMMERCE › Part 520 - ENTERPRISE ZONE AND HIGH IMPACT BUSINESS PROGRAMS › Subpart F - HIGH IMPACT BUSINESSES IN ILLINOIS › Section 520.630 - 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. The application shall include:
a) Investment Information. For each eligible
				investment, a description of the planned investment; documentation to
				substantiate that the investment is qualified (e.g., construction schedules,
				schematics, and specifications or lists, and approximate value of equipment to
				be purchased as provided by contractors and/or architects and engineers); and a
				statement of when the eligible investment will be placed in service in
				qualified property.
b) Job
				Creation. For investments in which full-time equivalent jobs are to be created,
				organized by job titles, the number of current and new full-time equivalent
				employees and the starting date of the new employees; and an explanation of how
				and why the investment causes additional full-time employment at the designated
				location in Illinois in which the investment is made.
c) Job Retention. For each designated
				location in Illinois in which full-time jobs are to be retained, organized by
				job titles, the number of full-time employees; and an explanation of how and
				why the investment causes the retention of full-time employees.
d) Existing Illinois Businesses. Existing
				Illinois businesses qualifying under the job retention criteria must provide a
				prospective plan that demonstrates that 1,500 full-time jobs would be
				eliminated in the event the business is not designated. The prospective plan
				shall include, but is not limited to, written information such as non-Illinois
				sites under consideration, cost-benefit analyses of moving or closing the
				business, financial statements, internal memoranda, or any other financial
				documentation evidencing that the business would either relocate to a
				non-Illinois site or close down in the event the business is not designated.
				This provision does not apply to new wind power facilities.
e) Newly Proposed Facilities. Newly proposed
				facilities qualifying under the job creation criteria must provide proof of
				alternative non-Illinois sites that would receive the proposed investment and
				job creation in the event the business is not designated. Such proof shall
				include, but is not limited to, incentive letters, prospective offers from
				other states, or other documentation indicating a firm interest in alternative
				non-Illinois locations. This provision does not apply to new wind power
				facilities.
f) Certification. A
				signed and dated statement that the investments would not be placed in service
				in qualified property and the job creation or retention would not occur without
				the tax credits and exemptions set forth in Section 5.5(b) of the Act; a signed
				and dated statement indicating application information is true and correct, and
				granting the Department access to material, documentation, and other data
				required to verify application information. The signed and dated statement that
				the investments would not be placed in service in qualified property and the
				job exemptions set forth in Section 5.5(b) of the Act applies only to the
				initial application for designation and not to any subsequent
				renewals.