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Industry Classification System (NAICS) code applicable to the business and the number of employees of the business at the time of application. Each business registered by the Department as a qualified new business venture that receives an investment giving rise to the issuance of a tax credit certificate pursuant to this Section shall, for each of the 3 years following the issue date of the last tax credit certificate issued by the Department with respect to such business pursuant to this Section, report to the Department the following: (1) the number of employees and the location at which those employees are employed, both as of the end of each year; (2) the amount of additional new capital investment raised as of the end of each year, if any; and (3) the terms of any liquidity event occurring during such year; for the purposes of this Section, a "liquidity event" means any event that would be considered an exit for an illiquid investment, including any event that allows the equity holders of the business (or any material portion thereof) to cash out some or all of their respective equity interests. (Source: P.A. 102-16, eff. 6-17-21; 103-9, eff. 1-1-24; 103-945, eff. 8-9-24.) (35 ILCS 5/221) SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468