CHICAGO — Gov. Bruce Rauner has signed legislation that re-establishes an economic-development tax incentive with greater transparency.
The Republican signed the revamped EDGE tax credit law Monday. He says it’s a “bipartisan job-creation program that is innovative and competitive for business.”
The law expires in 2022.
Rauner says key parts of the plan include incentives to encourage companies to move or expand to economically challenged parts of the state and lower thresholds to allow more small businesses to grow.
It also includes a provision Rauner sought. It requires EDGE agreements to be posted within 10 days of an agreement on a project.
Sen. Melinda Bush is a sponsor. The Grayslake Democrat says her district borders Wisconsin and EDGE “is essential in helping border communities like mine stay competitive.”