IL HB6190

Creates the Tri-State Metro Area Economic Development Interstate Compact to govern economic development practices between Illinois, Indiana, and Wisconsin.

Member states agree not to offer tax breaks to companies located in another member state as an inducement to relocate within the region.

Compact takes effect when at least two of the three eligible states enact it and applies only to member states.

Defines "tax break" as any tax credit, reduction, or elimination specifically applied to a particular company that results in lower tax liability compared to similarly situated businesses in that state.

Based on 2011-2012 OECD analysis of the Chicago metropolitan region, which found inter-state tax competition for businesses is self-defeating and harms regional economic development.