Some state lawmakers say companies should be allowed to receive income tax credits if they revamp a shuttered state facility.
State Sen. Tony Munoz (D-Chicago) sponsored a bill, SB 341, that would allow companies to receive the tax break if they take over a state facility that has been closed within the past two years and previously employed at least 100 workers. State Sen. Sam McCann (R-Carlinville) co-sponsored the bill, which unanimously passed through the Senate but has not yet been taken up in the House.
Those in favor of the measure say it would be beneficial for neighborhoods and would also reduce the number of vacant properties that may start deteriorating.
“First we lose jobs for local residents and business for local suppliers, then we have fires, vandalism, and an eyesore. This bill gives private investors an incentive to put these facilities to new use, putting people to work and putting these properties back on the tax rolls,” State Sen. Pat McGuire (D-Joliet) told Lee Enterprises newspapers' Springfield bureau.
State Rep. Lawrence Walsh Jr. (D-Joliet) is sponsoring the measure in the House.
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