As of January 1, 2004, the Department of Commerce and Economic Opportunity is required to comply with the Public Act 93-552, Corporate Accountability for Tax Expenditures Act, which was signed into law on August 20, 2003. PA 93-552 requires any recipient that receives economic development assistance from a state granting body, as defined by the Act, to report annually on the progress of the development and employment commitments for the project. This report must be submitted to the Department of Commerce and Economic Opportunity each year starting in 2005 and for each subsequent year as required by the applicable development agreement with the Department of Commerce and Economic Opportunity, the Illinois Department of Transportation or the Illinois State Treasurer's Office.