For years, Illinois’ state government has disregarded a law that limited the amount of tax credits the state could award to businesses to encourage them to stay in Illinois and expand their hiring in the state. As a result, it has awarded certain businesses hundreds of millions of dollars more than it should have. An announcement from Gov. Bruce Rauner on Nov. 10 suggests that practice is finally, rightly coming to an end.

 

What the state is supposed to do

 

The Economic Development for a Growing Economy Tax Credit Act, or EDGE Act, authorizes the Illinois Department of Commerce and Economic Opportunity, or DCEO, to award tax credits to businesses that create new jobs in Illinois..

 

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