Press release: Lawsuit filed against state agency for awarding millions in excessive business tax credits - Liberty Justice Center

Press release: Lawsuit filed against state agency for awarding millions in excessive business tax credits

CHICAGO (Jan. 9, 2015) – Like many other states, Illinois regularly awards tax credits to attract and keep businesses and jobs in the state. Illinois has a law that allows tax credits for companies that create new jobs. However, for more than a decade the state agency that hands out these tax credits has exceeded the authority of the law by awarding credits for jobs “retained” – not created. The Liberty Justice Center has filed a lawsuit today asking the courts to end this practice. At stake in this lawsuit is millions of dollars in excessive tax credits.

The Illinois Department of Commerce and Economic Opportunity administers the Economic Development for a Growing Economy, or EDGE, tax-credit program. The intention of the EDGE program is to attract new business to the state, or encourage existing businesses to expand and create new jobs. The terms of this program are written into state law. What has happened instead is the agency has written a regulation allowing the agency to issue credits to companies that do not create any new jobs in the state of Illinois.

Lawsuit filed against state agency for awarding millions in excessive business tax credits

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