Rauner announces changes to EDGE tax-credit program
SPRINGFIELD, Ill. (AP) -
Gov. Bruce Rauner has announced changes to state business tax-credit programs after he suspended them earlier this year.
Rauner announced late Tuesday he is restarting the credits known as Economic Development for a Growing Economy, or EDGE, and the Film Tax Credit.
The first-year Republican says changes he's made include eliminating agreements that favor companies with money to attract deals. The change also eliminates credits for job retention in favor of granting them only for new job creation.
The plan also restricts the way jobs are counted, prohibits multiples credits for the same facility, and would market the state's benefits, not just offer incentives.
The state will not offer any new tax credits until there's a budget agreement.
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