SB0499 ~~Engrossed~~ LRB095 09029 BDD 29220 b AN ACT concerning revenue.

SB0499 Enrolled LRB095 09029 BDD 29220 b AN ACT concerning revenue.

This does not prohibit a Taxpayer from expanding its operations at another SB0499 ~~Engrossed~~ - 2 - LRB095 09029 BDD 29220 b location in the State, provided that existing operations of a similar nature located within the State are not closed or substantially reduced.

This does not prohibit a Taxpayer from expanding its operations at another SB0499 Enrolled - 2 - LRB095 09029 BDD 29220 b location in the State, provided that existing operations of a similar nature located within the State are not closed or substantially reduced.

"Full-time Employee" means an individual who is employed for consideration for at least 35 hours each week or who SB0499 ~~Engrossed~~ - 3 - LRB095 09029 BDD 29220 b renders any other standard of service generally accepted by industry custom or practice as full-time employment.

"Full-time Employee" means an individual who is employed for consideration for at least 35 hours each week or who SB0499 Enrolled - 3 - LRB095 09029 BDD 29220 b renders any other standard of service generally accepted by industry custom or practice as full-time employment.

(2) an employee of the Taxpayer who was previously employed in Illinois by a Related Member of the Taxpayer and whose employment was shifted to the Taxpayer after the Taxpayer entered into the tax credit SB0499 ~~Engrossed~~ - 4 - LRB095 09029 BDD 29220 b Agreement;

(2) an employee of the Taxpayer who was previously employed in Illinois by a Related Member of the Taxpayer and whose employment was shifted to the Taxpayer after the Taxpayer entered into the tax credit SB0499 Enrolled - 4 - LRB095 09029 BDD 29220 b Agreement;

"Noncompliance Date" means, in the case of a Taxpayer that is not complying with the requirements of the Agreement or the SB0499 ~~Engrossed~~ - 5 - LRB095 09029 BDD 29220 b provisions of this Act, the day following the last date upon which the Taxpayer was in compliance with the requirements of the Agreement and the provisions of this Act, as determined by the Director, pursuant to Section 5-65.

"Noncompliance Date" means, in the case of a Taxpayer that is not complying with the requirements of the Agreement or the SB0499 Enrolled - 5 - LRB095 09029 BDD 29220 b provisions of this Act, the day following the last date upon which the Taxpayer was in compliance with the requirements of the Agreement and the provisions of this Act, as determined by the Director, pursuant to Section 5-65.

(3) A corporation, and any party related to the SB0499 ~~Engrossed~~ - 6 - LRB095 09029 BDD 29220 b corporation in a manner that would require an attribution of stock from the corporation to the party or from the party to the corporation under the attribution rules of Section 318 of the Internal Revenue Code, if the Taxpayer owns directly, indirectly, beneficially, or constructively at least 50% of the value of the corporation’s outstanding stock.

(3) A corporation, and any party related to the SB0499 Enrolled - 6 - LRB095 09029 BDD 29220 b corporation in a manner that would require an attribution of stock from the corporation to the party or from the party to the corporation under the attribution rules of Section 318 of the Internal Revenue Code, if the Taxpayer owns directly, indirectly, beneficially, or constructively at least 50% of the value of the corporation’s outstanding stock.

5-19-06.) (35 ILCS 10/5-15) SB0499 ~~Engrossed~~ - 7 - LRB095 09029 BDD 29220 b Sec.

5-19-06.) (35 ILCS 10/5-15) SB0499 Enrolled - 7 - LRB095 09029 BDD 29220 b Sec.