HB5185 Summary

• Eliminates the Illinois Business Development Council and removes provisions requiring the Department of Commerce and Economic Opportunity to develop annual business development plans; retains requirements for strategic economic development planning by July 1 annually.

• Makes the Illinois Main Street Program discretionary rather than mandatory by changing "shall" to "may" for Department implementation and the Lieutenant Governor's role, and adds "subject to appropriation" language throughout.

• Changes the angel investment tax credit program to require businesses receiving investments after January 1, 2018 to maintain minimum employment thresholds for 3 years; extends the credit authorization through December 31, 2026.

• Updates film production tax credit reporting requirements to track job positions as "above-the-line, below-the-line, or extras" instead of previous categories, and requires reporting on diversity of the film industry workforce.

• Removes the Department of Commerce and Economic Opportunity from the Interagency Coordinating Committee on Groundwater and repeals two sections of state law related to digital divide elimination advisory and working group structures.