SB 513. The passage of SB 513 was made necessary by the inclusion in the EDGE Act of a “sunset date” that causes the program to become inactive at intervals of time. The General Assembly must debate and consider the effect on the State’s economy, and on our State budget, of any law that reduces taxes on the private sector and asks its firms to create new jobs in response. The old sunset date of December 31, 2016 meant that the EDGE program hiccupped briefly and became inactive for a few days. Creation of a new sunset date of April 30, 2017 means that the program has come back to life and can be used once again to create new Illinois jobs.
Further debate in spring 2017 on the State’s job-creation performance is also likely. One proposal calls for replacement of EDGE by a new job-creation tax incentive program, to be called THRIVE. The provisions that could become part of the new THRIVE law will be discussed in the spring 2017 session. The EDGE program extension law was approved by the House and Senate on Tuesday, January 10. The House vote was 101-12-0.