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Illinois Statutes Chapter 20. Executive Branch § 686/50. Diversity report on the taxpayer's workforce, board of directors, and vendors

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 50. Diversity report on the taxpayer's workforce, board of directors, and vendors.

(a) Each taxpayer with a workforce of 100 or more employees and with an agreement for a REV Illinois project under this Act shall, starting on April 15, 2025, and every year thereafter prior to April 15, for which the Taxpayer has an Agreement under this Act, submit to the Department an annual report detailing the diversity of the taxpayer's own workforce, including full-time and part-time employees, contractors, and board of directors' membership. Any taxpayer seeking to claim a credit under this Act that fails to timely submit the required report shall not receive a credit for that taxable year unless and until such report is finalized and submitted to the Department. The report should also address the Taxpayer's best efforts to meet or exceed the recruitment and hiring plan outlined in the application referenced in Section 20. Those reports shall be submitted in the form and manner required by the Department.

(b) Vendor diversity and annual report. Each taxpayer with a workforce of 100 or more full-time employees shall, starting on April 15, 2025 and every year thereafter for which the taxpayer has an Agreement under this Act, report on the diversity of the vendors that it utilizes, for publication on the Department's website, and include the following information:

(1) a point of contact for potential vendors to register with the taxpayer's REV Illinois Project;

(2) certifications that the taxpayer accepts or recognizes for minority and women-owned businesses as entities;

(3) the taxpayers goals to contract with diverse vendors, if any, for the next fiscal year for the entire budget of the Taxpayer's REV Illinois Project;

(4) for the last fiscal year, the actual contractual spending for the entire budget of the REV Illinois Project and the actual spending for minority-owned businesses and women-owned businesses, expressed as a percentage of the total budget for actual spending for the REV Illinois project;

(5) A narrative explaining the results of the report and the taxpayer's plan to address the voluntary goals for the next fiscal year; and

(6) A copy of the taxpayer's submission of vendor diversity information to the federal government, including but not limited to vendor diversity goals and actual contractual spending for minority-and women-owned businesses, if the Taxpayer is a federal contractor and is required by the federal government to submit such information.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 20. Executive Branch § 686/50. Diversity report on the taxpayer's workforce, board of directors, and vendors - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-20-executive-branch/il-st-sect-20-686-50/

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