Bill Status of HB 5621   103rd General Assembly

Short Description:  BUILD ILLINOIS ACT-LOAN LIMIT

House Sponsors
Rep. Carol Ammons-Kam Buckner-Anne Stava-Murray-Edgar González, Jr.-Jay Hoffman, Lilian Jiménez, Suzanne M. Ness, Janet Yang Rohr, Blaine Wilhour, Jennifer Sanalitro and Dagmara Avelar

Senate Sponsors
(Sen. Don Harmon and Natalie Toro)


Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

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

Synopsis As Introduced
Amends the Build Illinois Act. Provides that the amount of small business loans made to minority persons, veterans, females, or persons with a disability under the Act shall not exceed $2,000,000 (rather than $400,000) or 50% of the business project costs unless the Director of Commerce and Economic Development determines that a waiver of these limits is required to meet the purposes of the Act. Provides that eligible projects under those provisions include refinancing current debt if the loan will refinance a loan previously made by a lender that is unaffiliated with the financial intermediary making the new loan and the proceeds of the refinance transaction are not used to finance an extraordinary dividend or other distribution.

Senate Committee Amendment No. 1
Deletes reference to:
30 ILCS 750/9-4.3
Adds reference to:
30 ILCS 750/1-1from Ch. 127, par. 2701-1

Replaces everything after the enacting clause. Amends the Build Illinois Act. Makes a technical change in a Section concerning the short title.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Carol Ammons
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  3/12/2024HouseAssigned to Small Business, Tech Innovation, and Entrepreneurship Committee
  4/4/2024HouseDo Pass / Short Debate Small Business, Tech Innovation, and Entrepreneurship Committee; 012-000-000
  4/4/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/8/2024HouseAdded Chief Co-Sponsor Rep. Anne Stava-Murray
  4/8/2024HouseAdded Co-Sponsor Rep. Lilian Jiménez
  4/11/2024HouseAdded Chief Co-Sponsor Rep. Edgar González, Jr.
  4/11/2024HouseAdded Chief Co-Sponsor Rep. Jay Hoffman
  4/11/2024HouseAdded Co-Sponsor Rep. Suzanne M. Ness
  4/11/2024HouseAdded Co-Sponsor Rep. Janet Yang Rohr
  4/11/2024HouseAdded Co-Sponsor Rep. Blaine Wilhour
  4/11/2024HouseAdded Co-Sponsor Rep. Jennifer Sanalitro
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/18/2024HouseAdded Chief Co-Sponsor Rep. Kam Buckner
  4/18/2024HouseChief Co-Sponsor Changed to Rep. Kam Buckner
  4/18/2024HouseAdded Co-Sponsor Rep. Dagmara Avelar
  4/18/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/18/2024HouseThird Reading - Short Debate - Passed 104-000-000
  4/19/2024SenateArrive in Senate
  4/19/2024SenatePlaced on Calendar Order of First Reading
  4/19/2024SenateChief Senate Sponsor Sen. Celina Villanueva
  4/19/2024SenateFirst Reading
  4/19/2024SenateReferred to Assignments
  5/1/2024SenateAssigned to Executive
  5/1/2024SenateRule 2-10 Committee Deadline Established As May 10, 2024
  5/10/2024SenateRule 2-10 Committee Deadline Established As May 17, 2024
  5/14/2024SenateAlternate Chief Sponsor Changed to Sen. Don Harmon
  5/15/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  5/15/2024SenateSenate Committee Amendment No. 1 Referred to Assignments
  5/15/2024SenateSenate Committee Amendment No. 1 Assignments Refers to Executive
  5/15/2024SenateSenate Committee Amendment No. 1 Adopted
  5/15/2024SenateDo Pass as Amended Executive; 007-004-000
  5/15/2024SenatePlaced on Calendar Order of 2nd Reading May 16, 2024
  5/16/2024SenateSecond Reading
  5/16/2024SenatePlaced on Calendar Order of 3rd Reading May 17, 2024
  5/17/2024SenateRule 2-10 Third Reading/Passage Deadline Established As May 24, 2024
  5/24/2024SenateRule 2-10 Third Reading Deadline Established As May 25, 2024
  5/25/2024SenateRule 2-10 Third Reading Deadline Established As May 26, 2024
  6/26/2024SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  11/6/2024SenateApproved for Consideration Assignments
  11/6/2024SenatePlaced on Calendar Order of 3rd Reading November 12, 2024
  11/19/2024SenateAdded as Alternate Co-Sponsor Sen. Natalie Toro
  12/22/2024SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/4/2025SenateApproved for Consideration Assignments
  1/4/2025SenatePlaced on Calendar Order of 3rd Reading January 5, 2025
  1/7/2025HouseSession Sine Die

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