Lawmaker wants review panel for Ill. tax breaks

SPRINGFIELD, Ill. — An Illinois lawmaker wants to create a committee to review tax breaks given to companies by the state Department of Commerce and Economic Opportunity before the incentives take effect.

Rep. Jack Franks filed a bill this week that would create a five-member committee within the state Department of Revenue to sign off on deals that provide corporate incentives through the EDGE tax credit program.

A package of perks signed into law last week by Gov. Pat Quinn included $15 million in EDGE credits for Sears Holdings Corp. after the retailer threatened to leave Illinois. The state earlier this year gave Motorola Mobility more than $100 million in tax breaks.

Franks said the committee would help make public what is now a secret negotiating process. Franks is a Democrat from Marengo.