Public Act 097-0406
 
HB2073 EnrolledLRB097 08827 PJG 48957 b


  
    AN ACT concerning finance.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
 
    Section 5. The State Finance Act is amended  by adding 
Sections 5.786 and 6z-87 as follows:
 
    (30 ILCS 105/5.786 new)
    Sec. 5.786. The Small Business Development Grant Fund.
 
    (30 ILCS 105/6z-87 new)
    Sec. 6z-87. The Small Business Development Grant Fund.
    (a)  The Small Business Development Grant Fund is created as 
a special fund in the State treasury.  Subject to appropriation, 
the Department of Commerce and Economic Opportunity shall make 
grants from the Fund:
        (1) to small businesses in the State that commit to 
    using the grant moneys to create additional jobs;
        (2)  to small businesses from outside of the State that 
    commit to relocate within the State; and
        (3)  for individual projects that create 100 or fewer 
    additional jobs.
    (b)  For the purposes of this Section, "small business" 
means a legal entity, including a corporation, partnership, or 
sole proprietorship that:
        (1)  is formed for the purpose of making a profit;
        (2)  is independently owned and operated; and
        (3)  has fewer than 100 employees.
    (c)  In making grants under this Section, the Department of 
Commerce and Economic Opportunity shall give priority  to 
minority owned businesses, female owned businesses, and 
businesses owned by a person with a disability, as those terms 
are defined in the Business Enterprise for Minorities, Females, 
and Persons with Disabilities Act.
    (d)  In making grants under this Section, the Department of 
Commerce and Economic Opportunity shall also give priority  to 
small businesses that pledge not to pay any of the grant moneys 
to an executive of the business in the form of compensation 
above the executive's base salary.
    (e)  In making grants under this Section, the Department of 
Commerce and Economic Opportunity shall also give priority  to 
small businesses that have as their primary purpose the 
provision of energy derived from renewable energy technology.  
For the purposes of this Section, "renewable energy technology" 
means
any technology that exclusively relies on an energy 
source that is
naturally regenerated over a short time and 
derived (i) directly from
the sun, (ii) indirectly from the 
sun, or (iii) from moving water or other
natural movements and 
mechanisms of the environment.  The term "renewable
energy 
technology" includes sources  that rely on energy derived

directly from the sun, on wind, geothermal, hydroelectric, 
wave, or
tidal energy, or on biomass or biomass-based waste 
products,
including landfill gas.  The term "renewable energy 
technology" does not
include energy resources derived from 
fossil fuels, waste products
from fossil fuels, or waste 
products from inorganic sources.
 
 
    Section 99. Effective date. This Act takes effect upon 
becoming law.