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| | HR0381 | | LRB101 12373 MST 60371 r |
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| 1 | | HOUSE RESOLUTION
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| 2 | | WHEREAS, The Economic Development for a Growing Economy |
| 3 | | (EDGE) Tax Credit Program
is an economic development tool |
| 4 | | operated by the Illinois Department of Commerce and
Economic |
| 5 | | Opportunity; and
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| 6 | | WHEREAS, The EDGE Tax Credit Program is a targeted |
| 7 | | incentive program that provides tax
credits for businesses that |
| 8 | | create new full-time jobs, retain existing full-time jobs, and |
| 9 | | make
capital investments in Illinois; and
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| 10 | | WHEREAS, The EDGE Tax Credit Program is designed to help |
| 11 | | areas of Illinois that are in
direct competition with other |
| 12 | | states for jobs and development; and
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| 13 | | WHEREAS, According to the 2017 EDGE Annual Report, since |
| 14 | | 1999 nearly $1.7 billion in tax
credits have been issued, |
| 15 | | 41,238 jobs were reported to have been created, and 46,160 jobs |
| 16 | | were
reported to have been retained; and
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| 17 | | WHEREAS, According to the FY17 Comprehensive Annual |
| 18 | | Financial Report, the State of
Illinois abated income taxes |
| 19 | | totaling approximately $179.1 million through the EDGE program
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| 20 | | for FY17; and
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| | HR0381 | - 2 - | LRB101 12373 MST 60371 r |
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| 1 | | WHEREAS, Public Act 100-511 made significant changes to and |
| 2 | | extended the EDGE Tax
Credit Program; therefore, be it
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| 3 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE |
| 4 | | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that |
| 5 | | the Auditor General is directed to conduct a performance audit
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| 6 | | of the Department of Commerce and Economic Opportunity's |
| 7 | | Economic Development for a
Growing Economy (EDGE) Tax Credit |
| 8 | | Program; and be it further
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| 9 | | RESOLVED, That the performance audit shall include, but not |
| 10 | | be limited to, the following
determinations: |
| 11 | | (1) Whether the Department is administering the EDGE |
| 12 | | program in accordance with
applicable laws, rules, |
| 13 | | policies, and procedures; |
| 14 | | (2) Whether the Department is adequately monitoring |
| 15 | | EDGE recipients; |
| 16 | | (3) Whether the Department has implemented the changes |
| 17 | | required under Public Act 100-
511; |
| 18 | | (4) Whether the Department is regularly assessing the |
| 19 | | effectiveness of the EDGE program;
and |
| 20 | | (5) Whether the EDGE tax incentives in Illinois are |
| 21 | | similar to programs in surrounding
states; and be it |
| 22 | | further
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| 23 | | RESOLVED, That the audit include an analysis of the amount |
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| | HR0381 | - 3 - | LRB101 12373 MST 60371 r |
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| 1 | | of tax credits approved and the number of jobs created or |
| 2 | | retained; and be it further
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| 3 | | RESOLVED, That the Department of Commerce and Economic |
| 4 | | Opportunity cooperate fully and
promptly with the Auditor |
| 5 | | General in the conduct of this audit; and be it further
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| 6 | | RESOLVED, That the Auditor General commence this audit as |
| 7 | | soon as possible and submit his
report, including his findings |
| 8 | | and recommendations, upon completion in accordance with the
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| 9 | | provisions of Section 3-14 of the Illinois State Auditing Act; |
| 10 | | and be it further
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| 11 | | RESOLVED, That a copy of this resolution be delivered to |
| 12 | | the Auditor General and the
Department of Commerce and Economic |
| 13 | | Opportunity.
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