Sec. 10. Unified Economic Development Budget.

177 words·~1 min read·/il/chapter-20/act-715/10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)For each State fiscal year ending on or after June 30, 2005, the Department of Revenue shall submit an annual Unified Economic Development Budget to the General Assembly. The Unified Economic Development Budget shall be due within 3 months after the end of the fiscal year, and shall present all types of development assistance granted, including:

(1)The aggregate amount of uncollected or diverted State tax revenues resulting from

each type of development assistance provided in the tax statutes, as reported to the Department of Revenue for tax years beginning during the third preceding calendar year.

(2)All State development assistance granted during the prior fiscal year.

(b)All data contained in the Unified Economic Development Budget presented to the General Assembly shall be fully subject to the Freedom of Information Act.

(c)The Department of Revenue shall submit a report of the amounts in subdivision (a)(1) of this Section to the Department, which may append such report to the Unified Economic Development Budget rather than separately reporting such amounts.