YOUNGE AND JONES,SHIRLEY. New Act 5 ILCS 140/7 from Ch. 116, par. 207 30 ILCS 105/5.541 new Creates the Black Business Investment Board Act. Creates the Black Business Investment Board in the Department of Commerce and Community Affairs. Provides for the appointment of members to the Board. Sets the powers and duties of the Board. Allows the Board to invest in black business enterprises and to make guaranties available to black business enterprises. Allows the Board to issue capital participation instruments and bonds. Requires the Board to make an annual report to the Governor, the President of the Senate, the Speaker of the House of Representatives, the Director of Labor, and the Director of Employment Security on the activities of the Board. Creates the Illinois Investment Incentive Trust Fund, the Black Contractors Bond Trust Fund, and the Black Business Loan Guaranty Trust Fund. Provides that moneys in those Funds may be used by the Board to carry out programs created under the Act. Amends the Freedom of Information Act. Provides that the personal financial records of persons participating in programs under the Black Business Investment Board Act are exempt from the requirements of the Freedom of Information Act. Amends the State Finance Act to create the Black Business Loan Guaranty Program Administrative and Loss Reserve Fund. 00-02-07 H FILED WITH CLERK 00-02-07 H FIRST READING 00-02-07 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-09 H ADDED AS A CO-SPONSOR JONES,SHIRLEY 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary