Sears proposal put in writing

SPRINGFIELD — Lawmakers Sunday afternoon put into writing the details of a big tax breaks plan that is expected to get its first hearing Monday.

Included, as expected, is a proposal to try to keep Sears Holdings Corp. in Hoffman Estates with an extension of their current property tax deal that comes with a penalty if it leaves the village and a requirement that the retail giant keep more than 4,000 jobs in town.

The 220-page proposal filed Sunday also includes tax help for futures exchange CME Group, which like Sears, has threatened to leave Illinois without action from lawmakers this year.

Lawmakers are scheduled to be in town Monday for a preliminary hearing. Then a full session day is scheduled for Tuesday.

The package they’ll weigh also includes tax credits for the working poor that Gov. Pat Quinn has pushed for, as well a research and development tax credit usable by businesses throughout the state.

The proposal even includes a tax break for live theater productions.

Rep. David Harris, an Arlington Heights Republican, said Friday that while he and top Democrats on a House committee that drafted a plan agreed to its terms, it’s still unclear how his colleagues of both parties will react this week.

“I don’t know how they will respond,” Harris said.

This week is the last time lawmakers are expected to meet for the year. They’ve extended deadlines before, but both Sears and CME Group officials say they want action before 2012 begins.