IL HB2409

Amends the Economic Development for a Growing Economy Tax Credit Act to require taxpayers claiming credits to submit annual supplier diversity reports to the Department of Commerce and Economic Opportunity by April 15 of each taxable year.

Reports must contain information described in subsections (b), (c), (d), and (e) of Section 5-117 of the Public Utilities Act and be submitted in the form and manner required by the Department.

Department shall not issue a tax certificate to any taxpayer unless they first submit a required supplier diversity report.

Taxpayers who fail to file a supplier diversity report become non-responsive to any Agreement with the Department and are ineligible to receive a tax certificate or file a tax credit for that year.

Department must publish all supplier diversity reports filed by taxpayers on its website and maintain those reports for at least 5 years.