IL HB2905

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

Department of Commerce and Economic Opportunity cannot issue a tax certificate unless the taxpayer first submits the required supplier diversity report.

Failure to file a supplier diversity report renders a taxpayer non-responsive to any agreement with the Department and ineligible to receive a tax certificate or file a tax credit for that year.

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

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