Bill Status of HB 3394   98th General Assembly

Short Description:  IL EMERGING TECHNOLOGY ACT

House Sponsors
Rep. Darlene J. Senger-Dwight Kay-Mike Fortner

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
15 ILCS 520/22.3 new
30 ILCS 105/5.826 new

Synopsis As Introduced
Creates the Illinois Emerging Technology Act. Provides for the creation of the Emerging Technology Advisory Panel. Provides that the Emerging Technology Advisory Panel shall consist of 9 members. Sets forth the appointment, terms, and duties of the members. Provides that the Department of Commerce and Economic Opportunity, with the assistance of the Emerging Technology Advisory Panel, shall establish the Illinois Emerging Technology Program to make grants, loans, and equity investments from the Illinois Emerging Technology Fund to entrepreneurs involved with emerging technologies. Amends the Deposit of State Moneys Act. Requires that the State Comptroller direct and the State Treasurer transfer from the General Revenue Fund to the Illinois Emerging Technology Fund an amount no less than $75,000,000 and no more than $100,000,000. Amends the State Finance Act to create the Illinois Emerging Technology Fund as a special fund in the State treasury.

Actions 
DateChamber Action
  2/26/2013HouseFiled with the Clerk by Rep. Darlene J. Senger
  2/26/2013HouseFirst Reading
  2/26/2013HouseReferred to Rules Committee
  3/11/2013HouseAdded Chief Co-Sponsor Rep. Dwight Kay
  3/11/2013HouseAdded Chief Co-Sponsor Rep. Mike Fortner
  3/11/2013HouseAssigned to Revenue & Finance Committee
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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