Illinois General Assembly - Bill Status for HB4505
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 Bill Status of HB4505  101st General Assembly


House Sponsors
Rep. Mark L. Walker

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 265/10
30 ILCS 265/11
30 ILCS 265/20

Synopsis As Introduced
Amends the Technology Development Act. Removes a provision specifying that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 10% of the total investments in the fund. Provides that distributions from a TDA II-Recipient Fund, in an amount not to exceed the commitment amount and total distributions received, may be reinvested into a specified account without being counted against the 5% cap. Provides that specified moneys in the Technology Development Fund may be provided as grants to technology businesses in order to foster, accelerate, and scale technology innovation in Illinois. Modifies the term "technology business" to expand the meaning of technology oriented or emerging activity. Makes conforming changes. Effective immediately.

DateChamber Action
  2/4/2020HouseFiled with the Clerk by Rep. Mark L. Walker
  2/4/2020HouseFirst Reading
  2/4/2020HouseReferred to Rules Committee
  3/12/2020HouseAssigned to Revenue & Finance Committee
  6/23/2020HouseRule 19(b) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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