Illinois Lawmakers OK Tax Incentive Program Extension
EDGE Program Was Set to Expire at the End of Last Year
SPRINGFIELD, Ill. (AP) - Illinois lawmakers have approved a four-month extension of a corporate tax incentive program amid an ongoing budget standoff.
The Economic Development for a Growing Economy, or EDGE, program was set to expire at the end of last year. It offers businesses tax breaks in exchange for agreements on creating and maintaining jobs.
Both the House and Senate approved the measure Tuesday with wide support. If Gov. Bruce Rauner signs it, the program will sunset in April.
Rauner's spokeswoman didn't return a message. Rauner made changes to the program in 2015 after suspending it months earlier.
Some lawmakers argue the program needs an overhaul because it benefits larger companies over smaller ones. Others say a short-term extension is the way to go for the time being.
The bill is SB513 .