SF 574:

-To be eligible to receive tax incentives under the program, a business's proposed project must be located on a certified site greater than 250 acres that the authority has determined is suitable for the project, and the business's qualifying investment in the project must exceed $1 billion. 

-In determining if a business is eligible to participate in the program, the authority shall consider a variety of factors, including but not limited to whether the jobs created by the business's project are high wage, low turnover, provide comprehensive benefits, and expose employees to minimal occupational hazards; the impact of the project on businesses that compete with the business applying to the program; and the project's economic impact on the state. 

-Applicaitons for the program shall be submitted and accompanied by an application fee. 

-Requires an eligible business that is approved to participate int he program to enter into an agreement with the authority that specifies the criteria for the successful completion of all requirements of the program. 

-An eligible business that has been issued a certificate under the program shall be entitled to a refund of the sales and use taxes for gas, electricity, water, and sewer utility services, tangible personal property, or on services rendered, furnished, or performed to or for a contractor or subcontractor and used in the fulfillment of a written contract relating to the construction or equipping of a facility that is part of the eligible business's project. 

-IEDA may authorize a tax credit for an eligible business that is up to 5 percent of the business's qualifying investment in a certified site. 

-An eligible business may withhold up to 3 percent of the gross wages paid to each employee in a created job that pays at least the qualifying wage threshold specified in the agreement. 

-If a foreign business's proposed project is located on a mega site that includes agricultural land, the requirements as detailed in the bill must be satisfied for the foreign business to be eligible for the program. 

-Except for the high quality jobs program, and the targeted jobs withholding credit, an eligible business may apply for and be eligible to receive other federal, state, and local incentives in addition to the incentives the authority issues to the business under the program. 

-Allows a community in which an eligible business's project is located to grant the eligible business a property tax exemption for a portion of the actual value added by improvements to real property directly related to the eligible business's created jobs.