HB5264 - 104th General Assembly (2025-2026)

DCEO-SMALL BUSINESS LOANS
Last Action
4/28/2026 - Senate: Assigned to Appropriations
Statutes Amended In Order of Appearance
20 ILCS 605/605-1119 new  
30 ILCS 105/5.1038 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 establish a loan program to provide low interest loans to small businesses that have been negatively impacted by federal immigration enforcement. Provides that the Department may make those loans from the Federal Immigration Recovery Fund and may administer the program directly through the Fund or enter into agreements with banks, credit unions, nonprofit loan administrations, or community development financial institutions. Amends the State Finance Act to create the Federal Immigration Recovery Fund. Effective immediately.

House Floor Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that the Department of Commerce and Economic Opportunity shall establish a loan program to provide low interest loans to small businesses that have been negatively impacted by an economic shock (in the introduced bill, federal immigration enforcement). Renames the Federal Immigration Recovery Fund the Economic Recovery Fund. Provides that the Department of Commerce and Economic Opportunity is authorized to provide participating lenders with an administrative or origination fee, in an amount determined by the Department, to cover the costs of loan origination and servicing. Provides that the State shall provide a 100% guarantee on loans issued under the amendatory Act. Provides that participating lenders shall act as originators and servicers of loans and shall not be required to deploy their own capital. Effective immediately.
Actions
DateChamberAction
2/05/2026HouseFiled with the Clerk by Rep. Elizabeth "Lisa" Hernandez
2/10/2026HouseFirst Reading
2/10/2026HouseReferred to Rules Committee
3/18/2026HouseAssigned to Economic Opportunity & Equity Committee
3/25/2026HouseDo Pass / Short Debate Economic Opportunity & Equity Committee; 005-002-000
3/26/2026HousePlaced on Calendar 2nd Reading - Short Debate
4/10/2026HouseSecond Reading - Short Debate
4/10/2026HouseHeld on Calendar Order of Second Reading - Short Debate
4/14/2026HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Elizabeth "Lisa" Hernandez
4/14/2026HouseHouse Floor Amendment No. 1 Referred to Rules Committee
4/15/2026HouseHouse Floor Amendment No. 1 Rules Refers to Economic Opportunity & Equity Committee
4/15/2026HouseHouse Floor Amendment No. 1 Recommends Be Adopted Economic Opportunity & Equity Committee; 005-002-000
4/17/2026HouseHouse Floor Amendment No. 1 Adopted
4/17/2026HousePlaced on Calendar Order of 3rd Reading - Short Debate
4/17/2026HouseThird Reading - Short Debate - Passed 063-034-000
4/21/2026SenateArrive in Senate
4/21/2026SenatePlaced on Calendar Order of First Reading
4/21/2026SenateChief Senate Sponsor Sen. Karina Villa
4/21/2026SenateFirst Reading
4/21/2026SenateReferred to Assignments
4/28/2026SenateAssigned to Appropriations