2005 Illinois Code - Chapter 20 Executive Branch 20 ILCS 611/ Corporate Headquarters Relocation Act.
(20 ILCS 611/1)
Sec. 1.
Short title.
This Act may be cited as the Corporate Headquarters Relocation Act.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/5)
Sec. 5.
Purpose.
The General Assembly has determined that the relocation
of the international headquarters of large, multinational corporations from
outside of Illinois to a location within Illinois creates a substantial public
benefit and will foster economic growth and development within the State.
Specifically, these relocations will foster a positive image of the State of
Illinois and its human and natural resources throughout the United States and
the world; contribute to a strong residential housing market; directly and
indirectly create jobs and additional taxes within the State; encourage the
relocation of other similar businesses to the State; and otherwise foster the
development of commerce and industry within the State of Illinois. These
relocations should be encouraged through the use of incentives that encourage
long‑term commitments by business and industry to Illinois and that would
otherwise not be available through existing incentives programs.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/10)
Sec. 10. Definitions. As used in this Act:
"Corporate headquarters" means the building or buildings that the principal
executive officers of an eligible business have designated as their principal
offices and that has at least 250 employees who are principally located in that
building or those buildings. The principal executive officers may include, by
way of example and not of limitation, the chief executive officer, the chief
operating officer, and other senior officer‑level employees of the eligible
business. "Corporate headquarters" may also include ancillary transportation
facilities owned or leased by the eligible business whether or not physically
adjacent to the principal office building or buildings used by the principal
executive officers. The ancillary transportation facilities may include, but
are not limited to, airplane hangars, helipads or heliports, fixed base
operations, maintenance facilities, and other aviation‑related facilities. All
employees of the eligible business may count toward the satisfaction of the
numeric requirement of this definition, including but not limited to support
staff and other personnel who work in or from the office building or buildings
or transportation facilities.
"Department" means the Department of Commerce and Economic Opportunity.
"Director" means the Director of Commerce and Economic Opportunity.
"Eligible business" means a business that: (i) is engaged in interstate or
intrastate commerce; (ii) maintains its corporate headquarters in a state other
than Illinois as of the effective date of this Act; (iii) had annual worldwide
revenues of at least $25,000,000,000 for the year immediately preceding its
application to the Department for the benefits authorized by this Act; and (iv)
is prepared to commit contractually to relocating its corporate headquarters to
the State of Illinois in consideration of the benefits authorized by this Act.
"Fund" means the Corporate Headquarters Relocation Assistance Fund.
"Qualifying project" means the relocation of the corporate headquarters of an
eligible business from a location outside of Illinois to a location within
Illinois, whether to an existing structure or otherwise. When the relocation
involves an initial interim facility within Illinois and a subsequent further
relocation within 5 years after the effective date of this Act to a permanent
facility also within Illinois, all those activities collectively constitute a
"qualifying project" under this Act.
"Relocation costs" means the expenses incurred by an eligible business for a
qualifying project, including, but not limited to, the following: moving costs
and related expenses; purchase of new or replacement equipment; outside
professional fees and commissions; premiums for property and casualty insurance
coverage; capital investment costs; financing costs; property assembly and
development costs, including, but not limited to, the purchase, lease, and
construction of equipment, buildings, and land, infrastructure improvements and
site development costs, leasehold improvements costs, rehabilitation costs, and
costs of studies, surveys, development of plans, and professional services
costs such as architectural, engineering, legal, financial, planning, or other
related services; "relocation costs", however, does not include
moving costs associated with the relocation of the personal residences of the
employees of the eligible business and does not include any costs that do not
directly result from the relocation of the business to a location within
Illinois. In determining whether costs directly result from the relocation of
the business, the Department shall consider whether the costs would likely have
been incurred by the business if it had not relocated from its original
location.
(Source: P.A. 94‑793, eff. 5‑19‑06.)
(20 ILCS 611/15)
Sec. 15.
Powers of the Department.
The Department, in addition to the
powers granted under the Civil Administrative Code of Illinois, has all the
powers necessary and convenient to carry out and effectuate the purposes and
provisions of this Act, including, but not limited to, the power to:
(1) promulgate rules and establish procedures deemed |
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necessary and appropriate for the administration of this Act;
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(2) negotiate and execute any term, agreement, or
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other document with any person, entity, or body politic necessary or appropriate to accomplish the purposes of this Act;
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(3) fix, determine, charge, and collect premiums,
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fees, charges, costs, and expenses from eligible businesses, including, without limitation, application fees, commitment fees, program fees, financing charges, or publication fees as deemed appropriate to pay expenses necessary or incident to the administration of the Department's activities and duties under this Act, including the preparation and enforcement of any agreement, or for consultation services, legal services, or other costs;
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(4) require eligible businesses, upon written
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request, to issue any necessary authorization to the appropriate federal, state, or local authority for the release of information concerning a qualifying project; and
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(5) take whatever actions are necessary or
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appropriate to protect the State's interest in the event of bankruptcy, default, foreclosure, or noncompliance with the terms and conditions of any agreement entered into pursuant to this Act, including the power to sell, dispose, lease, or rent, upon terms and conditions determined by the Director to be appropriate, real or personal property that the Department may receive as a result of these actions.
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(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/20)
Sec. 20.
Reimbursement for relocation costs.
(a) The initial application of an eligible business proposing a qualifying
project must be filed with the Department no later than July 1, 2004.
(b) Upon receipt and approval
of an application from an eligible business proposing a qualifying project, the
Department may enter into an agreement with the eligible business wherein the
Department agrees to reimburse the eligible business for its relocation costs
subject to the following terms, conditions, and limitations:
(1) The eligible business must apply to the |
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Department for reimbursement of its relocation costs.
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(2) The application submitted by the eligible
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business must identify with specificity the relocation costs for which reimbursement is sought, and the eligible business must provide the Department with all supporting documentation as requested by the Department. The eligible business may amend its application for reimbursement from time to time in order to cover additional relocation costs incurred after the submission of an initial application.
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(3) The Department reserves the right to approve or
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disapprove specific items and categories of relocation costs.
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(4) The eligible business must in fact relocate its
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corporate headquarters to the State of Illinois within a time frame specified by the Department.
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(5) The eligible business may receive reimbursement
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for not greater than 50% of its documented relocation costs.
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(6) The agreement between the Department and the
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eligible business must provide that reimbursement will be provided by means of one or more grants that shall be issued annually by the Department for a period not to exceed 10 years or until 50% of the eligible business' relocation costs are reimbursed, whichever occurs first.
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(7) The amount of the annual grant that may be
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issued to the eligible business by the Department may not exceed 50% of the total amount withheld from employees of the eligible business employed at the corporate headquarters during the preceding calendar year under Article 7 of the Illinois Income Tax Act.
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(8) In applying to the Department for reimbursement,
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the eligible business must certify the total amount withheld during the preceding calendar year under Article 7 of the Illinois Income Tax Act from its employees employed at the corporate headquarters.
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(9) The Department may issue grants from the
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Corporate Headquarters Relocation Assistance Fund to eligible businesses for reimbursement of relocation costs as provided by this Act.
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(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/25)
Sec. 25.
Review of application for reimbursement.
No eligible business
is eligible for reimbursement of relocation costs under this Act unless
the Department determines at the time of the eligible business' initial
application that, if not for that reimbursement, the eligible business would
not have determined to relocate its corporate headquarters to Illinois. The
eligible business may satisfy this requirement by, among other means,
presenting evidence to the Department that the eligible business has or had
multi‑state location options and could reasonably and efficiently have located
its corporate headquarters to a state other than Illinois; by a
demonstration that at least one other state is or was being considered for the
location of its corporate headquarters; or through evidence that receipt of the
benefits authorized by this Act is an important factor in the eligible
business' decision to locate its corporate headquarters to Illinois, and that
without that assistance, the eligible business likely would not establish its
corporate headquarters in Illinois.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/30)
Sec. 30.
Transfers to Corporate Headquarters Relocation Assistance Fund.
Upon receipt of a certification by the eligible business of the aggregate
amount withheld from its employees employed at the corporate headquarters
during the preceding calendar year under Article 7 of the Illinois Income Tax
Act, the Department shall then certify to the State Treasurer that 50% of that
amount is eligible to be transferred from the General Revenue Fund to the
Corporate Headquarters Relocation Assistance Fund. This amount shall be
referred to as the "certified transfer amount". Upon receipt of the
certification from the Department, the Treasurer shall transfer the certified
transfer amount within 30 days from the General Revenue Fund to the Corporate
Headquarters Relocation Assistance Fund.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/35)
Sec. 35.
Corporate Headquarters Relocation Assistance Fund; creation.
The
Corporate Headquarters Relocation Assistance Fund is created as a separate fund
within the State treasury. From the Fund and pursuant to the provisions of
this Act, the Department may issue grants to reimburse eligible businesses for
relocation costs incurred in connection with the relocation of a corporate
headquarters to the State of Illinois.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/40)
Sec. 40.
Other incentives.
Nothing in this Act precludes an eligible
business with respect to a qualifying project from applying for or receiving
any other federal, State, or local assistance or incentives in connection with
the relocation of its corporate headquarters to the State of Illinois.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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(20 ILCS 611/905)
Sec. 905.
(Amendatory provisions; text omitted).
(Source: P.A. 92‑207, eff. 8‑1‑01; text omitted.)
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(20 ILCS 611/910)
Sec. 910.
(Amendatory provisions; text omitted).
(Source: P.A. 92‑207, eff. 8‑1‑01; text omitted.)
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(20 ILCS 611/915)
Sec. 915.
(Amendatory provisions; text omitted).
(Source: P.A. 92‑207, eff. 8‑1‑01; text omitted.)
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(20 ILCS 611/920)
Sec. 920.
(Amendatory provisions; text omitted).
(Source: P.A. 92‑207, eff. 8‑1‑01; text omitted.)
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(20 ILCS 611/999)
Sec. 999.
Effective date.
This Act takes effect upon becoming law.
(Source: P.A. 92‑207, eff. 8‑1‑01.)
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