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Illinois Compiled Statutes (Tax)

35 ILCS 17/10-50

Live theater tax credit award program evaluation and reports

Official textilga.gov

Sec. 10-50. Live theater tax credit award program evaluation and reports.

# (a)

The Department's live theater tax credit award evaluation must include: (i) an assessment of the effectiveness of the program in creating and retaining new jobs in Illinois; (ii) an assessment of the revenue impact of the program; (iii) in the discretion of the Department, a review of the practices and experiences of other states or nations with similar programs; and (iv) an assessment of the overall success of the program. The Department may make a recommendation to extend, modify, or not extend the program based on the evaluation.

# (b)

At the end of each fiscal quarter, the Department shall submit to the General Assembly a report that includes, without limitation: (i) an assessment of the economic impact of the program, including the number of jobs created and retained, and whether the job positions are entry level, management, vendor, or production related; (ii) the amount of accredited theater production spending brought to Illinois, including the amount of spending and type of Illinois vendors hired in connection with an accredited theater production; and (iii) a determination of whether those receiving qualifying Illinois labor expenditure salaries or wages reflect the geographical, racial and ethnic, gender, and income level diversity of the State of Illinois.

# (c)

At the end of each fiscal year, the Department shall submit to the General Assembly a report that includes, without limitation: (i) the identification of each vendor that provided goods or services that were included in an accredited theater production's Illinois production spending; (ii) a statement of the amount paid to each identified vendor by the accredited theater production and whether the vendor is a minority-owned or women-owned business as defined in Section 2 of the Business Enterprise for Minorities, Women, and Persons with Disabilities Act; and (iii) a description of the steps taken by the Department to encourage accredited theater productions to use vendors who are minority-owned or women-owned businesses. (Source: P.A. 100-391, eff. 8-25-17.)

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Nearby sections (25 sections)
  1. 16/905 · (Amendatory provisions; text omitted)
  2. 16/999 · Effective date
  3. 17/10-1 · Short title
  4. 17/10-5 · Purpose
  5. 17/10-10 · Definitions
  6. 17/10-15 · Powers of the Department
  7. 17/10-20 · Tax credit award
  8. 17/10-25 · Application for certification of accredited theater…
  9. 17/10-30 · Review of application for accredited theater production…
  10. 17/10-35 · Training programs for skills in critical demand
  11. 17/10-40 · Issuance of Tax Credit Award Certificate
  12. 17/10-45 · Amount and payment of the tax credit award
  13. 17/10-50 · Live theater tax credit award program evaluation and reports
  14. 17/10-55 · Program terms and conditions
  15. 17/10-80 · (Amendatory provisions; text omitted)
  16. 20/35-1 · Short title
  17. 20/35-5 · Tax Shelter Voluntary Compliance Program
  18. 20/35-10 · "Tax avoidance transaction" defined
  19. 20/35-15 · Use of evidence of participation in the program
  20. 20/35-90 · (Amendatory provisions; text omitted)
  21. 20/99-99 · Effective date
  22. 25/1 · Short title
  23. 25/5 · Findings and purpose
  24. 25/10 · Definitions
  25. 25/15 · Powers of the Department
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