§ 5-55

Illinois § 5-55

• Jurisdiction: Illinois
• Topic: GOVERNMENT
• Ch. 35: REVENUE
• Act 35 ILCS 10/: Economic Development for a Growing Economy Tax Credit Act.
• Art.: Article 5 - Economic Development for a Growing Economy Tax Credit Act

Text

Certificate of verification; submission to the Department of Revenue. A Taxpayer claiming a Credit under this Act shall submit to the Department of Revenue a copy of the Director's certificate of verification under this Act for the taxable year. However, failure to submit a copy of the certificate with the Taxpayer's tax return shall not invalidate a claim for a Credit. For a Taxpayer to be eligible for a certificate of verification, the Taxpayer shall provide proof as required by the Department prior to the end of each calendar year, including, but not limited to, attestation by the Taxpayer that: (1) The project has substantially achieved the level of new full-time jobs specified in its Agreement. (2) The project has substantially achieved the level of annual payroll in Illinois specified in its Agreement. (3) The project has substantially achieved the level of capital investment in Illinois specified in its Agreement.

Legislative History

(Source: P.A. 91-476, eff. 8-11-99.)