The following definitions are applicable to this Subpart
Q:
"Act" means Section 1o of the Retailers' Occupation Tax Act
[35 ILCS
120/1o] .
"Aircraft support center" means a support center operated by
a carrier for hire that is used primarily for the maintenance, rebuilding, or
repair of aircraft, aircraft parts, and auxiliary equipment.
"Contractually obligated" means the business enterprise has
entered into a legally binding agreement with the Department to comply with
Section 1o of the Retailers' Occupation Tax Act.
"Department" means the Department of Commerce and Economic
Opportunity.
"Eligible investments" means a $30,000,000 investment in
qualified property at a joint use military and civilian airport at a federal
Air Force Base that will be placed in service at an airport support center
located in a joint use military and civilian airport at a federal Air Force
Base. Qualified properties are statutorily defined in Section 201(f) of the
Illinois Income Tax Act [35 ILCS
5/201(f)] or are
noncapital/nonroutine investments, and associated service costs (direct labor
or contractual fees) that will be placed in service at an airport support
center located in a joint use military and civilian airport at a federal Air
Force Base and made for the improvement or renovation of qualified properties.
These activities are used primarily for the maintenance, rebuilding, or repair
of aircraft, aircraft parts, and auxiliary equipment.
"Full-time equivalent job" means a job in which the new
employee works for the recipient or for a corporation under contract to the
recipient at a rate of at least 35 hours per week. A recipient who employs
labor or services at a specific site or facility under contract with another
may declare one full-time, permanent job for every 1,820 man hours worked per
year under that contract. Vacations, paid holidays, and sick time are included
in this computation. Overtime is not considered a part of regular hours.
[20 ILCS
655/3(i)]
"Full-time retained job" means any employee defined as having
a full-time or full-time equivalent job preserved at a specific facility or
site, the continuance of which is threatened by a specific and demonstrable
threat, which shall be specified in the application for development assistance.
A recipient who employs labor or services at a specific site or facility under
contract with another may declare one retained employee per year for every
1,750 man hours worked per year under that contract, even if different
individuals perform on-site labor or services. [20 ILCS
655/3(j)]
"Job creation" means at least 750 full-time equivalent
employees have been hired at an airport support center located in a joint use
military and civilian airport at a federal Air Force Base. Job titles being
filled or refilled as a result of strikes cannot be computed as job
creation.
"New employee" means a full-time equivalent job that
represents a net increase in the number of the recipient's employees statewide.
"New employee" includes an employee who previously filled a new employee
position with the recipient who was rehired or called back from a layoff that
occurs during or following the base years. The term "new employee" does not
include any of the following:
An employee of the recipient who performs a job that was
previously performed by another employee in this State, if that job existed in
this State for at least 6 months before hiring the employee;
Any individual who has a direct or indirect ownership
interest of at least 5% in the profits, capital or value of any member of the
recipient;
A child, grandchild, parent or spouse, other than a spouse
who is legally separated from the individual, of any individual who has a
direct or indirect ownership interest of at least 5% in the profits, capital or
value of any member of the recipient;
Employee positions being filled or refilled as a result of
strikes or layoffs or replacement workers to replace recipient company locked
out employees.
"Placed in service" means the state or condition of readiness
and availability for a specifically assigned function as defined in 26 CFR 1.46
- 3(d). Eligible investments as defined in this Section shall be considered
placed in service on the earlier of: the date the property is placed in a
condition of readiness and availability for use or the date on which the
depreciation period of that property begins.
