Memorandum of Understanding

TITLE 14: COMMERCE SUBTITLE C: ECONOMIC DEVELOPMENT CHAPTER I: DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY PART 519 QUANTUM COMPUTING CAMPUS PROGRAM SECTION 519.90 MEMORANDUM OF UNDERSTANDING Section 519.90  Memorandum of Understanding a)         Upon approval of an application, the Department and tenant located, or to be located, in a quantum computing campus seeking a certificate of exemption shall enter into an MOU. The MOU shall specify the terms and conditions of the exemptions and shall define the rights and responsibilities of the Department and tenant. Provisions with which the tenant will be contractually bound to comply include, but are not limited to, the following: 1) the details for determining the amount of capital investment to be made; 2) the number of new jobs to be created , including a specific method for determining the number of new employees and any relevant baseline headcount numbers; 3) the timeline for achieving the capital investment and new job goals; 4) repayment obligation should those goals not be achieved and any conditions under which repayment by the tenant claiming the exemption will be required; 5) the duration of the exemptions; and 6) other provisions as deemed necessary by the Department. [20 ILCS 605/605-1115(d)] b)         Tenants seeking a certificate of exemption and credits related to the construction of required facilities shall require the contractor and all subcontractors to: 1)         comply with the requirements of Section 30-22 of the Illinois Procurement Code [30 ILCS 500/30-22] and to present satisfactory evidence of that compliance to the Department; and 2)         enter into a project labor agreement submitted to the Department.