EDGE-WITHHOLDING

Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that, for agreements entered into on or after the effective date of the amendatory Act, no Taxpayer may elect to apply the credit against its withholding tax liability unless certain conditions are met. Provides that each application for credits must contain an affidavit signed by the Taxpayer's chief executive officer or chief financial officer, or an individual holding an equivalent position, stating that, but for the Credit, the Taxpayer would not locate the project in the State. Requires the Department to post the taxpayer's tax information on its website. In the case of all EDGE credits, provides that, if the Applicant's project includes retained employees, the Credit may also include an amount agreed to between the Department and the Applicant based on the severity of the poverty or unemployment in the geographic area in which the Applicant's project is located or the retained employees reside. Provides that that amount may not be more than 40% of the total amount withheld from the compensation of retained employees. Amends the Illinois Income Tax Act to allow the Department of Revenue to provide information to the Department of Commerce and Economic Opportunity for the purpose of confirming the tax information submitted by the Taxpayer. Effective immediately.