Investor Presentaiton
QNBV Noncompliance
Noncompliance with the program can only occur if the business certified as a QNBV receives an investment giving rise to the issuance of
a tax credit certificate. If this is not the case, the QNBV cannot be found noncompliant.
A QNBV may be found in noncompliance for:
•
Failing to maintain the minimum employment threshold (at least 51% of the business' employee positions in Illinois and at least
75% of the business' employee positions created following a receipt of an investment located in Illinois) through the date 3 years
from the issue date of the last tax credit certificate issued with respect to the business.
Failing to provide the Illinois Department of Commerce and Economic Opportunity or the Illinois Department of Revenue with
information and records necessary to verify compliance.
•
Failing to submit the Annual QNBV Report.
•
Otherwise not being in compliance with the program.View entire presentation