Illinois General Assembly - Bill Status for HB5274
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 Bill Status of HB5274  102nd General Assembly


Short Description:  DCEO-SMALL BUSINESS LOAN PROG

House Sponsors
Rep. Nicholas K. Smith, Dagmara Avelar, Dave Vella and Maurice A. West, II

Last Action
DateChamber Action
  3/4/2022HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
20 ILCS 605/605-1095 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 the Small Business Emergency Loan Program. Provides that from funds made available to the Department from the State Small Business Credit Initiative Fund, the Department shall offer low-interest loans of up to $50,000 to eligible small businesses for working capital, with at least 50% of loan proceeds to be applied for specified purposes. Provides that borrower eligibility and loan terms under the Program shall be as prescribed by the Department. Provides for the adoption of rules.

Actions 
DateChamber Action
  1/27/2022HouseFiled with the Clerk by Rep. Nicholas K. Smith
  1/31/2022HouseFirst Reading
  1/31/2022HouseReferred to Rules Committee
  2/9/2022HouseAssigned to State Government Administration Committee
  2/16/2022HouseDo Pass / Short Debate State Government Administration Committee; 005-003-000
  2/17/2022HousePlaced on Calendar 2nd Reading - Short Debate
  2/23/2022HouseAdded Co-Sponsor Rep. Dagmara Avelar
  3/2/2022HouseSecond Reading - Short Debate
  3/2/2022HouseHeld on Calendar Order of Second Reading - Short Debate
  3/4/2022HouseRule 19(a) / Re-referred to Rules Committee
  3/30/2022HouseAdded Co-Sponsor Rep. Dave Vella
  4/1/2022HouseAdded Co-Sponsor Rep. Maurice A. West, II

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