IL SB1881

Amends the Economic Development for a Growing Economy (EDGE) Tax Credit Act to modify the criteria the Business Investment Committee uses when reviewing applications for tax credits

Removes the requirement that applicants demonstrate the project would not occur in Illinois without the credit, including evidence of cost differentials with competing states

Eliminates the requirement to identify cost differentials between Illinois and competing states, including the impact of other states' incentive programs

Retains requirements that projects must create jobs in Illinois, be economically sound, receive local incentive commitments, result in positive fiscal impact to the state, and not be otherwise prohibited

Takes effect immediately upon becoming law