SPRINGFIELD, Ill. – State Rep. Natalie Manley, D-Joliet, is sponsoring legislation requiring businesses that take financial incentives from the state, but then shift jobs overseas or out of state, to return the value of that assistance to the Illinois taxpayers.
“Businesses come to the state all the time looking for financial assistance to grow and help create more jobs in our communities,” Manley said. “Most of the time, qualifying businesses use the tax credits and other resources responsibly. However, there are times when businesses take these incentives only to turn around and move out of state and taxpayers should not foot the bill for the cost of these programs.”
Manley is a chief co-sponsor of House Bill 3538, which creates the Keep Illinois Business Act. Businesses can receive a variety of incentives, including tax credits, tax exemptions, grants and loans, from the state in order to grow and create more jobs. Unfortunately, there have been instances where businesses receive these additional incentives and then close, move to another state and take Illinois residents’ jobs with them. This legislation requires businesses to pay back every dollar they received to the state.
“Elected officials have a responsibility to taxpayers and other businesses to make sure that everyone plays by the rules,” Manley said. “This legislation will make sure businesses looking to get assistance from the state keep their part of the bargain.”
For more information, please contact Manley’s constituent service office at 815-725-2741 or RepManley@gmail.com.