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 Bill Status of HB2698  100th General Assembly


Short Description:  SMALL BUSINESS DEVELOPMENT

House Sponsors
Rep. Arthur Turner - Keith R. Wheeler - Carol Ammons - Linda Chapa LaVia - Stephanie A. Kifowit, Elizabeth Hernandez, Mark Batinick, Melissa Conyears-Ervin, LaToya Greenwood, Robert Martwick, Jehan Gordon-Booth and Elgie R. Sims, Jr.

Senate Sponsors
(Sen. Toi W. Hutchinson - Karen McConnaughay - Andy Manar - Chuck Weaver - Cristina Castro, Kimberly A. Lightford, Michael Connelly and Thomas Cullerton)

Last Action
DateChamber Action
  5/31/2017HousePassed Both Houses

Statutes Amended In Order of Appearance
30 ILCS 750/9-3from Ch. 127, par. 2709-3
30 ILCS 750/9-4from Ch. 127, par. 2709-4
30 ILCS 750/9-4.2from Ch. 127, par. 2709-4.2
30 ILCS 750/9-4.3from Ch. 127, par. 2709-4.3


Synopsis As Introduced
Amends the Build Illinois Act. Provides that the Department of Commerce and Economic Opportunity may also make loans or equity investments to small businesses with moneys in the State Small Business Credit Initiative Fund (currently, the Department make only make such loans and equity investments with moneys in the Build Illinois Bond Fund, the Illinois Capital Revolving Fund, or the Illinois Equity Revolving Fund). Provides that the Department of Commerce and Economic Opportunity may make loans to small businesses of up to $2,000,000 (currently, $750,000) per project. Provides that moneys collected from the fees imposed under this Act connected with the Capital Fund shall be deposited into the Capital Fund. Provides that loans under the minority, veteran, female, and persons with a disability loan program shall not exceed $400,000 (currently, $100,000) without a waiver from the Director of Commerce and Economic Opportunity. Effective immediately.

House Committee Amendment No. 1
Adds reference to:
30 ILCS 750/9-4.8 new

Adds provisions to the introduced bill creating the State Small Business Credit Initiative Fund.

Actions 
DateChamber Action
  2/8/2017HouseFiled with the Clerk by Rep. Arthur Turner
  2/8/2017HouseFirst Reading
  2/8/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Executive Committee
  2/22/2017HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia
  2/28/2017HouseAdded Co-Sponsor Rep. Elizabeth Hernandez
  3/10/2017HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Arthur Turner
  3/10/2017HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/13/2017HouseHouse Committee Amendment No. 1 Rules Refers to Executive Committee
  3/29/2017HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
  3/29/2017HouseDo Pass as Amended / Short Debate Executive Committee; 011-000-000
  3/29/2017HousePlaced on Calendar 2nd Reading - Short Debate
  3/29/2017HouseAdded Chief Co-Sponsor Rep. Barbara Wheeler
  4/7/2017HouseSecond Reading - Short Debate
  4/7/2017HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/7/2017HouseRemove Chief Co-Sponsor Rep. Barbara Wheeler
  4/7/2017HouseAdded Chief Co-Sponsor Rep. Keith R. Wheeler
  4/10/2017HouseAdded Co-Sponsor Rep. Mark Batinick
  4/24/2017HouseThird Reading - Short Debate - Passed 111-001-000
  4/24/2017HouseAdded Chief Co-Sponsor Rep. Carol Ammons
  4/24/2017HouseAdded Chief Co-Sponsor Rep. Stephanie A. Kifowit
  4/24/2017HouseAdded Co-Sponsor Rep. Melissa Conyears-Ervin
  4/24/2017HouseAdded Co-Sponsor Rep. LaToya Greenwood
  4/24/2017HouseAdded Co-Sponsor Rep. Robert Martwick
  4/24/2017HouseAdded Co-Sponsor Rep. Jehan Gordon-Booth
  4/24/2017HouseAdded Co-Sponsor Rep. Elgie R. Sims, Jr.
  4/25/2017SenateArrive in Senate
  4/25/2017SenatePlaced on Calendar Order of First Reading April 26, 2017
  5/1/2017SenateChief Senate Sponsor Sen. Toi W. Hutchinson
  5/1/2017SenateAdded as Alternate Chief Co-Sponsor Sen. Karen McConnaughay
  5/2/2017SenateFirst Reading
  5/2/2017SenateReferred to Assignments
  5/2/2017SenateAdded as Alternate Chief Co-Sponsor Sen. Andy Manar
  5/3/2017SenateAdded as Alternate Co-Sponsor Sen. Kimberly A. Lightford
  5/4/2017SenateAdded as Alternate Chief Co-Sponsor Sen. Chuck Weaver
  5/5/2017SenateAssigned to Commerce and Economic Development
  5/5/2017SenateAdded as Alternate Co-Sponsor Sen. Michael Connelly
  5/11/2017SenateDo Pass Commerce and Economic Development; 007-000-000
  5/11/2017SenatePlaced on Calendar Order of 2nd Reading May 12, 2017
  5/12/2017SenateAdded as Alternate Chief Co-Sponsor Sen. Cristina Castro
  5/23/2017SenateSecond Reading
  5/23/2017SenatePlaced on Calendar Order of 3rd Reading May 24, 2017
  5/26/2017SenateRule 2-10 Third Reading Deadline Established As May 31, 2017
  5/31/2017SenateThird Reading - Passed; 055-000-000
  5/31/2017SenateAdded as Alternate Co-Sponsor Sen. Thomas Cullerton
  5/31/2017HousePassed Both Houses

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