Requires for profit companies applying for certain tax credits or abatements to commit to a community benefits plan that may include partnering with community-based charitable or education organizations, sponsoring educational or vocational activities, participating in philanthropic endeavors meant to specifically aid the local community and its members, and establishing other programs to improve the wellbeing of the local community and its members. AMENDED - requires only that applicants certify that the business will collaborate with the community in which the business is located, and will submit a community benefits agreement in the Office of Economic Development not later than 2 years after the date on which the Office approves the abatement or tax credit application. UPDATE - new status.