More than 65% of District 116's $51.4 million education fund came from
state aid in 2018, according to Illinois State Board of Education financial records.
Mr Street, a Conservative, said the Government "should rapidly look at whether
state aid regulation can be altered to enable them to directly support our industries of the future, vital for companies such as Jaguar Land Rover."
RATING BASED ON STATE INTERCEPT: The 'AA' rating is equal to New York State's annual appropriation rating, which is notched one level below the state's 'AA+' general obligation (GO) rating to reflect the
state aid intercept security for the bonds and the annual risk of non-appropriation of
state aid moneys by the state.
Last May, the European Commission started investigating this
state aid, due to suspicions as to whether it fulfils EU rules.
Since 2016, James has served as a consultant to the Office of
State Aid Road Construction.
The recent
state aid cases represent the first time the EC has exercised
state aid control to address corporate tax practices on an EU scale.
As a general rule, the Treaty on the Functioning of the European Union prohibits
state aid, while it leaves some room for certain policy objectives for which
state aid can be considered compatible with the internal market.
The EC has also ordered Irish LCC Ryanair to re-pay about 10m [euro] in illegal
state aid received for operating at three small regional airports to France.
State aid law was essentially a form of competition law for the public sector regulating how public bodies could support development, particularly large-scale infrastructure projects.
The 50-page text explains the different elements that constitute
state aid as defined by the treaty (Article 107.1) and EU case law.
There are currently no specific
state aid guidelines in the energy sector, he said.