IL HB5014

Amends the Illinois sales tax exemption requirements for business enterprises in Enterprise Zones by adding Section 1f with three eligibility criteria.

Requires businesses (except High Impact Businesses) to either: create minimum 200 full-time equivalent jobs, retain minimum 2,000 full-time jobs, or invest minimum $40,000,000 while retaining at least 90% of existing jobs for the exemption duration.

Mandates businesses be located in an Illinois Enterprise Zone and certified by the Department of Commerce and Economic Opportunity within 60 days of application.

Allows the Department of Commerce and Economic Opportunity to promulgate rules defining eligible investment types and to require repayment of exempted taxes if businesses fail to comply with certification terms.

Sets maximum exemption period at 20 years for standard businesses, or 25 years for businesses certified as High Impact Service Facilities.