Gov. Rauner signed and vetoed legislation, which NFIB/IL says helps small business owners.
On behalf of Illinois small business owners, NFIB/IL applauded two recent actions taken by Gov. Rauner.
The first was legislation (HB162) that revamps an economic development tax incentive with more transparency, which Rauner signed into law on Sept. 18. The EDGE tax credit program incentivizes job creation, growth, and economic competitiveness by encouraging companies to expand or move to underserved areas of Illinois. Eligibility thresholds are lowered so that more small businesses can grow as well. And to increase transparency, the new law requires that EDGE agreements be posted within 10 days of being secured. The program will expire on June 30, 2022, if not renewed.
KFVS 12 quoted Gov. Rauner in their report: “The EDGE Tax Credit Program overhaul is a bipartisan job creation program that is innovative and competitive for businesses. This legislation is another tool to use in our quest to bring high-quality and good-paying jobs to Illinois. It is crucial for the future success of our state that we make Illinois a more business-friendly environment through pro-growth measures.”
The second was a veto of HB3449, the Geolocation Privacy Protection Act, which NFIB/IL said would have added unnecessary regulations to small business and stifled tech entrepreneurs. The measure would have required apps and services to inform consumers and receive their consent before collecting geolocation information.