HB0436 Enrolled

LRB096 07997 RCE 18101 b






1
    AN ACT concerning finance.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Department of Commerce and Economic 
5
Opportunity Law of the
Civil Administrative Code of Illinois is 
6
amended  by adding Section 605-416 as follows:
 
7
    (20 ILCS 605/605-416  new)
8
    Sec. 605-416. Loans to qualified ex-offenders.
9
    (a)     The Department of Commerce and Economic Opportunity may 
10
establish an ex-offender business ownership grant and loan 
11
program.  Funding for this program shall come from the 
12
Ex-Offender Fund.  The Department shall provide grants to 
13
organizations and entities that work with ex-offenders and 
14
facilitate the reentry of ex-offenders into society.  
15
Organizations wishing to participate in the program must 
16
present an application to the Department in order to receive 
17
funding.
18
    (b)   Funding distributed from the Ex-Offender Fund may be 
19
used only  for the following purposes:
20
        (1)    For the awarding of grants to organizations and 
21
    entities to provide low interest loans to ex-offenders so 
22
    that these individuals may start and operate their own 
23
    businesses that have a positive impact on society.  The 
 


 






HB0436 Enrolled
- 2 -
LRB096 07997 RCE 18101 b




1
    maximum amount of a loan funded by a grant under this 
2
    Section that an ex-offender may receive is $5,000.
3
        (2)    For the awarding of grants to entities or 
4
    organizations assisting ex-offenders, so that individual 
5
    ex-offenders may develop  business plans to start up their 
6
    own businesses.  These grants are to be used for the sole 
7
    purpose of acquiring a business plan developed by a 
8
    credible source.  In order to receive these grants, 
9
    qualified ex-offenders must submit an application and 
10
    provide 50% of the cost to develop the business plan.
11
        (3)    For the administration costs of the program. 
12
    (c)    For purposes of this Section, "qualified ex-offender" 
13
means any person who:
14
        (1)    is an eligible offender, as defined under Section 
15
    5-5.5-5 of the Unified Code of Corrections;
16
        (2)    was sentenced to a period of incarceration in an 
17
    Illinois adult correctional center; and
18
        (3)    presents an application and a professional 
19
    business plan to the organization or entity that is making 
20
    the loan.
 
21
    Section 10. The State Finance Act is amended  by adding 
22
Section 5.719 as follows:
 
23
    (30 ILCS 105/5.719  new)
24
    Sec. 5.719. The Ex-Offender Fund.
 

 


 






HB0436 Enrolled
- 3 -
LRB096 07997 RCE 18101 b




1
    Section 99. Effective date. This Act takes effect January 
2
1, 2010.