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Code · Illinois · Chapter 30 — FINANCE · Act 760

Sec. 5. Creation or loss of jobs.

132 words·~1 min read·/il/chapter-30/act-760/5

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Sec. 5. Creation or loss of jobs.
(a)Before a State agency or a unit of local government grants economic development incentives to a private entity, the State agency or unit of local government shall make an advance estimate of the number of jobs to be retained, created, or lost because of the incentives. If the incentives are granted, the State agency or unit of local government shall at least annually compile statistics on the actual number of jobs retained, created, or lost because of the incentives. The initial estimate and the annual statistics shall be reported to the Governor and the General Assembly.
(b)When jobs are lost as a result of State or local economic development incentives, the State shall consider various forms of economic assistance to the displaced workers.
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