Illinois Compiled Statutes (Tax)
35 ILCS 16/5
Purpose
Sec. 5. Purpose. The General Assembly finds that the Illinois economy is highly vulnerable to other states and nations that have major financial incentive programs targeted to the motion picture industry. Because of the incentive programs of these competitor locations, Illinois must move aggressively with new business development investment tools so that Illinois is more competitive in site location decision-making for film productions. In an increasingly global economy, Illinois' long-term development will benefit from rational, strategic use of State resources in support of film production development and growth. It is the purpose of this Act to preserve and expand the existing human infrastructure for the motion picture industry in Illinois. It shall be the policy of this State to promote and encourage the training and hiring of Illinois residents who represent the diversity of the Illinois population through the creation and implementation of training, education, and recruitment programs organized in cooperation with Illinois colleges and universities, labor organizations, and the motion picture industry. (Source: P.A. 95-720, eff. 5-27-08 .)
Source: view the official text
Nearby sections (25 sections)
- 10/5-70 · Annual report
- 10/5-75 · Evaluation of tax credit program
- 10/5-77 · Sunset of new Agreements
- 10/5-80 · Adoption of rules
- 10/5-85 · (Repealed)
- 10/5-90 · Program terms and conditions
- 10/5-105 · (Amendatory provisions; text omitted)
- 10/5-110 · (Amendatory provisions; text omitted)
- 10/5-115 · (Amendatory provisions; text omitted)
- 10/5-120 · (Amendatory provisions; text omitted)
- 10/999-1 · Effective date
- 16/1 · Short title
- 16/5 · Purpose
- 16/10 · Definitions
- 16/15 · Powers of the Department
- 16/20 · Tax credit awards
- 16/25 · Application for certification of accredited production
- 16/30 · Review of application for accredited production certificate
- 16/35 · Issuance of Tax Credit Certificate
- 16/40 · Amount and duration of the credit
- 16/42 · Sunset of credits
- 16/43 · Training programs for skills in critical demand
- 16/44 · Accredited animated productions
- 16/45 · Evaluation of tax credit program; reports to the General…
- 16/46 · Illinois Production Workforce Development Fund