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 Bill Status of HB4152  100th General Assembly


Short Description:  DCEO-BUSINESS FUND

House Sponsors
Rep. La Shawn K. Ford

Last Action
DateChamber Action
  11/7/2017HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
20 ILCS 605/605-427 new
35 ILCS 5/226 new
30 ILCS 105/5.886 new


Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall administer the Business to Business Revolving Loan Fund. Provides that moneys in the Business to Business Revolving Loan Fund shall be used by the Department of Commerce and Economic Opportunity to make revolving loans and grants to new and expanding businesses in the State. Sets limits on the amount of grants and loans. Creates an advisory committee to propose rules concerning eligibility for the loan and grant program. Amends the Illinois Income Tax Act. Creates a credit in an amount equal to the amount of the taxpayer's donation to the Business to Business Revolving Loan Fund, subject to approval by the Department of Commerce and Economic Opportunity. Provides that the Department of Commerce and Economic Opportunity may not approve more than $200,000,000 in credits for those donations in the aggregate in any calendar year. Amends the State Finance Act to create the Business to Business Revolving Loan Fund.

Actions 
DateChamber Action
  11/7/2017HouseFiled with the Clerk by Rep. La Shawn K. Ford
  11/7/2017HouseFirst Reading
  11/7/2017HouseReferred to Rules Committee

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