The Department shall determine which projects will benefit the State. In making its recommendation that an applicant's application for credit should or should not be accepted, which shall occur within a reasonable time frame as determined by the nature of the application, the Department shall determine that all the following conditions exist:
(1) the applicant intends to make the required investment in the State and intends to hire the required number of full-time employees;(2) the applicant's project is economically sound, will benefit the people of the State by increasing opportunities for employment, and will strengthen the economy of the State;(3) awarding the credit will result in an overall positive fiscal impact to the State, as certified by the Department using the best available data; and(4) the credit is not prohibited under this Act.Added by P.A. 102-0669,§ 25, eff. 11/16/2021.