Illinois § 50-25

§ 50-25.

Review of applications for qualified music company certificates. (a) The Department shall issue a qualified music company certificate to an applicant if it finds that the following conditions exist: (1) the applicant is engaged directly or indirectly in the production, distribution, and promotion of music; (2) the applicant intends to make an expenditure as defined in this Act; (3) the applicant's qualified music company is economically sound and will benefit the people of the State of Illinois by increasing opportunities for employment and will strengthen the economy of Illinois; (4) the following requirements related to the implementation of a diversity plan have been met: (A) the applicant has filed with the Department a diversity plan outlining specific goals for hiring Illinois labor expenditure eligible minority persons and women, as defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act, and for using vendors receiving certification under the Business Enterprise for Minorities, Women, and Persons with Disabilities Act; (B) the Department has approved the plan as meeting the requirements established by the Department and verified that the applicant has met or made good faith efforts in achieving those goals; and (C) the Department has adopted any rules that are necessary to ensure compliance with the provisions set forth in this paragraph (4) and any rules that are necessary to show that the applicant's plan reflects the diversity of the population of this State; (5) the applicant's qualified music company application indicates whether the applicant intends to participate in training, education, and recruitment programs that are organized in cooperation with Illinois colleges and universities, labor organizations, and the holders of qualified music company certificates and are designed to promote and encourage the training and hiring of Illinois residents who represent the diversity of Illinois; and (6) the tax credit award will result in an overall positive impact to the State. (b) If any of the provisions in this Section conflict with any existing collective bargaining agreements, the terms and conditions of those collective bargaining agreements shall control. (c) The Department shall act expeditiously regarding approval of applications for qualified music companies so as to accommodate the operations and needs of those companies. (Source: P.A. 103-592, eff. 6-7-24; 103-1055, eff. 12-20-24.)