HB5263eng 104TH GENERAL ASSEMBLY

HB5263 Engrossed LRB104 18810 SPS 32253 b

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 1. Short title. This Act may be cited as the Economic Stabilization and Resilience Commission Act.

Section 5. Economic Stabilization and Resilience Commission.

(a) Subject to appropriation, there is created the Economic Stabilization and Resilience Commission. The purpose of the Commission is to research and recommend strategies to disburse resources to deliver rapid liquidity to businesses affected by immigration enforcement disruptions.

(b) The Commission shall be composed of the following members appointed by the Governor:

(1) 3 representatives of the State, with expertise in economic development, revenue, or workforce policy;

(2) one representative of a municipal government;

(3) one representative of a county government;

(4) 2 representatives of statewide or regional business advocacy organizations, including chambers of commerce;

(5) one representative with expertise in immigration law or immigration policy; and

(6) one representative of a financial institution or lending organization with experience serving small businesses.

(c) The chairperson of the Commission shall be elected from the Commission's membership by a simple majority vote of the total membership of the Commission. The vice-chairperson of the Commission shall be elected from the Commission's membership by a simple majority vote of the total membership of the Commission.

(d) The Governor shall make the initial appointments to the Commission within 30 days after the effective date of this Act.

(e) All members shall be appointed for terms of 3 years. No member shall serve more than 2 consecutive terms. A member shall serve until his or her successor is appointed and qualified.

(f) Any vacancies in Commission membership shall be filled in the same manner as initial appointments. Appointments to fill vacancies occurring before the expiration of a term shall be for the remainder of the unexpired term.

(g) Total membership of the Commission consists of the number of members serving on the Commission not including any vacant positions. A quorum shall consist of a simple majority of total membership and shall be sufficient to conduct the transaction of business of the Commission, unless stipulated otherwise in the by-laws of the Commission.

(h) The Department of Commerce and Economic Opportunity shall provide administrative support to the Commission.

(i) The Commission shall meet at least quarterly through December 31, 2027 and afterward shall meet at the discretion of the chairperson.

Section 10. Report. No later than December 31, 2027, the Commission shall create a report and submit it to the Governor and the General Assembly. The report shall include:

(1) recommendations to improve coordination and readiness for rapid economic stabilization during localized or regional market disruptions caused by federal policy actions, including recommendations related to the establishment of shared response protocols, roles, and responsibilities among the State government, units of local government, businesses, and community intermediaries;

(2) mechanisms for timely information-sharing and outreach to affected businesses;

(3) coordination of capital deployment and business assistance through trusted intermediaries; and

(4) strategies to ensure that economic stabilization resources reach affected commercial corridors quickly and efficiently during periods of federal immigration enforcement activity.

Section 99. Effective date. This Act takes effect upon becoming law.