Illinois Budget Deficit Spurs Incentive Cuts
With a proposed budget deficit of nearly $4 billion for the 2016 fiscal year, the Illinois Governor’s Office has issued a press release which places a hold on certain future incentives for businesses. Effective immediately, the state is suspending all new applications for the Economic Development for a Growing Economy (EDGE) Tax Credit Program, Large Business Attraction Grants, Employer Training Investment Program (ETIP) Grants, and Prime Sites Grants. In addition, the state will defer application approvals for film tax credits and High Impact Business designations. Any commitments previously made for any of the above will still be honored.
If you would like more information on the impact of these suspensions, please contact Equifax Workforce Solutions.
Recommended For You
Recent bipartisan legislation looks to make the Work Opportunity Tax Credit (WOTC) permanent Senior members of the Senate Finance and […]
Are You Following WOTC Best Practices? If you don’t WOTC, you should. This federal Work Opportunity Tax Credit (WOTC) program […]
Beware of WOTC Myths The Work Opportunity Tax Credit (WOTC) is a valuable employer tax credit. So valuable that it […]
Last update: January 25, 2019. An agreement has been reached to end the partial government shutdown. A three-week continuing resolution […]