IL HB5349

Department of Revenue, with assistance from Department of Commerce and Economic Opportunity, shall examine investment credit and research and development credit to determine their impact on job creation and retention.

Department must report findings on the investment and research and development credits to the Governor and General Assembly by December 1, 2019.

Department shall examine all new, extended, or reenacted tax credits under Section 201 of the Illinois Income Tax Act created after this act's effective date to assess their impact on job creation and retention, including any stated job creation goals.

Department must report findings on new credits to the Governor and General Assembly within 3 years after each credit's effective date, and every 3 years thereafter.

Act takes effect immediately upon becoming law.