Illinois Administrative Code

Section 529.80 Determination of Credit Amount a) The Department shall determine the amount of credit awarded under the Act. Subject to the conditions set forth in the Act, applicant is entitled to a credit against payment of taxes withheld under Section 704A of the Illinois Incom…

Section 529.90 Applicant Responsibilities Each applicant who the Department determines qualifies for a credit agrees to the requisites of the Act. Requirements that the applicant must comply with include, but are not limited to, the following: a) A requirement that the applicant …

Section 530.10 Purpose The Department shall conduct a survey and report on business incentives. These rules implement Section 605-456 of the Department of Commerce and Economic Opportunity Law [20 ILCS 605/605-456].

Section 530.20 Definitions The following definitions are applicable to this Part. "Business" means a firm that is engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, assembling, warehousing, or distributing products, conducting research and …

Section 530.30 Survey The Department shall identify and contact businesses that are located in the State or have been identified as having left the State. Participation is voluntary. The Department shall request that the business complete a survey, that includes information regar…

Section 530.40 Report The Department shall compile the results of the surveys and any other relevant information provided to the Department. By each July 1, the Department shall report to the General Assembly upon its compilation of the previous year's survey responses and any of…

Section 531.10 Purpose The Department is charged with implementation of the Angel Investment Credit Program in order to provide tax credit awards to claimants to help stimulate job growth and expand capital investment in Illinois.

Section 531.20 Definitions The following definitions are applicable to the Angel Investment Credit Program. "Act" means the Illinois Income Tax Act [35 ILCS 5]. "Applicant" means a corporation, partnership, limited liability company, or a natural person that makes an investment i…

Section 531.30 Tax Credit Directives a) For taxable years beginning after December 31, 2010 and ending on or before December 31, 2026, subject to the limitations provided in the Act, a claimant may claim, as a credit against the tax imposed under Section 201(a) and (b) of the Act…

Section 531.40 Application Requirements a) In order to qualify for a tax credit certificate under the Act, an applicant must adhere to the requirements established by the Department. The Department will provide interested applicants with information upon request. Submittal of a t…

Section 531.50 Application Review and Approval a) The Department shall accept applications after January 1, 2011 and via the procedures established by the Department. Applications will be reviewed in order received at the Department's Springfield office or electronically at Angel…

Section 531.55 Allocation of Tax Credits a) For taxable years beginning before January 1, 2024: 1) The aggregate amount of the tax credits that may be claimed under the Angel Investment Credit Program for investments made in qualified new business ventures shall be limited to $10…

Section 531.60 Qualified New Business Registration Guidelines a) A business desiring registration shall submit an application to the Department in each taxable year for which the business desires registration. [35 ILCS 5/220(e)] b) The Department may register the business only if…

Section 531.70 Tax Credit Certificate a) Per the requirements of the Act and upon satisfactory compliance with registration and reporting guidelines, the Department shall provide the claimant with a tax credit certificate. The certificate shall include the following: 1) The name …

Section 531.80 Reporting and Tracking Procedures a) On or before March 1 of each year, the Department shall report to the Governor and to the General Assembly on the tax credit certificates awarded under this Section for the prior calendar year. [35 ILCS 5/220(h)] b) This report …

Section 531.90 Noncompliance a) If the Department determines that a claimant who has received a credit under the Act or a qualified new business venture that was the recipient of an investment under the Act is not complying with the requirements or provisions of the Act, the clai…

Section 532.10 Purpose The Department shall make live theater tax credit awards under the Live Theater Production Tax Credit Act for the purpose of preserving and expanding the existing work force in Illinois, supporting the live theater industry in Illinois, promoting tourism in…

Section 532.100 Live Theater Tax Credit Program Evaluation and Report to Illinois General Assembly a) In determining whether the live theater tax credit program is effective in creating and retaining jobs in Illinois, the Department is responsible for determining the overall succ…

Section 532.110 Transfer of Theater Tax Credit Award a) A sale, assignment, or transfer of the credit may be made by the taxpayer earning the credit within one year after the credit is awarded in accordance with this Part. [35 ILCS 5/222(c)] b) For purposes of this Section, a tax…

Section 532.120 Confidentiality of Documents and Record Retention Requirements a) Any documentary materials or data made available or received from an applicant by any agent or employee of the Department are confidential and are not public records to the extent that the materials…

Section 532.20 Definitions The following definitions are applicable to this Part: "Accredited Theater Production" means a for‑profit live stage presentation in a qualified production facility, as defined in this Section, that is either a pre‑Broadway production or a long‑run prod…

Section 532.30 Live Theater Tax Credit Directives a) For taxable years beginning on and after January 1, 2012, subject to the limitations and requirements provided in the Act, an applicant is entitled to a theater tax credit award as approved by the Department for qualifying Illi…

Section 532.40 Live Theater Tax Credit Amount a) The maximum monetary amount of tax credits awarded pursuant to the Act shall not exceed the actual amount as directed in the Act in any State fiscal year. [35 ILCS 17/10-20] b) Each theater tax credit award shall be limited to $500…

Section 532.50 Application for Accredited Theater Production Certificate a) In order to obtain a theater tax credit award, an applicant must first receive an accredited theater production certificate establishing that the applicant has satisfied the requirements of the Act and th…

Section 532.60 Approval/Denial of Accredited Theater Production Certificate a) The Department reserves the right to make inquiries, to conduct studies and to review information with respect to the application. The Department also reserves the right to request information from the…

Section 532.70 Request for Theater Tax Credit Award a) After an applicant has received an accredited theater production certificate, it can request a theater tax credit award from the Department. In accordance with the Act, the theater tax credit award shall only be awarded to an…

Section 532.80 Approval/Denial of Theater Tax Credit Award a) When an applicant submits its request for a theater tax credit award, the Department will review and verify the applicant's final diversity hiring numbers for crew, vendors and talent to determine whether it met the go…

Section 532.90 Calculation of Theater Tax Credit Award a) The theater tax credit award shall be calculated each tax year based upon the filing by the applicant on forms prescribed by the Department containing information regarding qualifying and quantified Illinois labor expendit…

Section 550.10 Purpose Section 605-705(a) of the Civil Administrative Code of Illinois [20 ILCS 605/605-705(a) authorizes a program for the establishment of grants with local tourism and convention bureaus from the Convention and Local Tourism Account in the Tourism Fund. The int…

Section 550.20 Definitions "Act" − means Section 605-705(a) of the Civil Administrative Code of Illinois [20 ILCS 605/605-705(a)] that establishes a grant program to be referred to as the Local Tourism and Convention Bureau Program. "Applicant" − means a not-for-profit organizati…

Section 550.30 Allocation of Appropriations to Grantees a) In accordance with the Act, annual appropriations made by the General Assembly to the Department for the purpose of this program are allocated as follows: 1) 18% of the annual appropriation shall be used for grants to con…

Section 550.40 Certification Process a) Notification. Each year, on or about January 1, the Department will publish three times within a 10-day period, in the official State newspaper, a notification that includes the following: 1) Availability of funds under the LTCB program as …

Section 550.50 Grant Application Process Application by Bureaus for Funds Under the Act a) All bureaus shall complete an application and any additional Department required forms or assessments for funding. The bureau shall retain one copy and submit one original of the applicatio…

Section 550.60 Program Requirements a) Fiscal Year Marketing Plan and Project Budget Plan Approval 1) A Fiscal Year Marketing Plan and detailed Project Budget Plan identifying proposed tourism promotional activities and associated administrative expenditures utilizing LTCB grant …

Section 550.70 Administrative Match Requirements Matching Funds. Each grantee must provide match for grant funds received under the Program. Match expenditures must be no less than 50% of the grant funds expended, as well as any interest earned on grant funds that is also expende…

Section 550.80 Contractual Requirements a) Method of Compensation. Payments pursuant to a grant shall be subject to the availability of funds appropriated by the General Assembly. 1) The grantee shall receive grant funds, as stipulated in the Grant Agreement, upon approval of its…

Section 555.10 Purpose Section 605-707 of the Civil Administrative Code of Illinois (International Tourism Program) [20 ILCS 605/605-707] authorizes the Department of Commerce and Economic Opportunity to award grants to and work in cooperation with certified local tourism and con…

Section 555.100 Allocation of Appropriations Annual appropriations made by the General Assembly to the Department for the purpose of awarding grants under this Program may be used by the Department in any county in the State of Illinois. a) All of the amounts deposited into the F…

Section 555.110 Funding Limitation The Department shall provide Grant Funds not to exceed 50% of the Total Project Cost. Except that, during Fiscal Year 2013, the Department shall provide Grant Funds not to exceed two-thirds of the Total Project Cost. (Source: Amended at 38 Ill. …

Section 555.120 Grant Agreement a) When an Application has been approved for funding, a grant award shall be made and the Grantee and the Department shall execute a Grant Agreement. If the Project is initiated and costs are incurred before the Department approves the Application,…

Section 555.130 Grant Administrative Requirements a) Grant Termination 1) Termination Due to Loss of Funding. In the absence of State funding for a Fiscal Year, all grants for that year will be terminated in full. In the event of a partial loss of State funding, the Department wi…

Section 555.20 Definitions The following definitions are applicable to this Part: "Applicant": means a certified local tourism and convention bureau or a certified regional tourism development organization submitting an Application for Program Grant Funds as provided for under th…

Section 555.30 Eligible Applicants Certified Local Tourism and Convention Bureaus or Regional Tourism Development Organizations certified by the Department may apply for Program funding. (Source: Amended at 38 Ill. Reg. 3577, effective January 23, 2014)

Section 555.40 Eligible Use of Funds Expenditures and activities for which grant funds can be utilized by Grantees located outside Chicago include, but are not limited to, the following: a) Eligible Expenditures, including, but not limited to, brochures that target international …

Section 555.50 Form of Application a) All communications relating to the Application procedures defined in Section 555.60 shall be addressed to the International Tourism Grant Program Manager and sent to: Illinois Department of Commerce and Economic Opportunity, Illinois Office o…

Section 555.60 Application Procedure a) Applications for funding under this Program must be received no less than 60 days prior to the beginning of the Department's Fiscal Year or as otherwise determined by the Department. b) An Application will be considered delivered and submit…

Section 555.70 Matching Funds a) The Grantee shall provide Matching Funds to be expended towards the Total Project Cost that are: 1) Under the control of the Grantee. For purposes of the Grant, control shall mean that the Grantee can successfully demonstrate the following control…

Section 555.80 Computation of Time Computation of any period of time prescribed by this Part shall begin with the first business day following the day on which the act, event or development initiating that period of time occurs, and shall run until the end of the last day or the …

Section 555.90 Evaluation and Selection Process a) The Department's internal review committee shall evaluate each Application. The criteria used in determining whether an Application will be considered for a grant award includes, but is not limited to, the potential to increase o…

Section 560.10 Purpose of Program The purpose of the Illinois Small Business Incubator Program (Program) is to encourage entrepreneurship and economic development through the creation and support of small business incubators, facilities where start-up and young businesses can ope…