Illinois General Assembly - Bill Status for HB5621
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 Bill Status of HB5621  103rd General Assembly

Short Description:  BUILD ILLINOIS ACT-LOAN LIMIT

House Sponsors
Rep. Carol Ammons - Kam Buckner - Anne Stava-Murray - Edgar Gonzalez, Jr. - Jay Hoffman, Lilian Jiménez, Suzanne M. Ness, Janet Yang Rohr, Blaine Wilhour, Jennifer Sanalitro and Dagmara Avelar

Senate Sponsors
(Sen. Celina Villanueva)

Last Action
DateChamber Action
  4/19/2024SenateReferred to Assignments

Statutes Amended In Order of Appearance
30 ILCS 750/9-4.3from Ch. 127, par. 2709-4.3


Synopsis As Introduced
Amends the Build Illinois Act. Provides that the amount of small business loans made to minority persons, veterans, females, or persons with a disability under the Act shall not exceed $2,000,000 (rather than $400,000) or 50% of the business project costs unless the Director of Commerce and Economic Development determines that a waiver of these limits is required to meet the purposes of the Act. Provides that eligible projects under those provisions include refinancing current debt if the loan will refinance a loan previously made by a lender that is unaffiliated with the financial intermediary making the new loan and the proceeds of the refinance transaction are not used to finance an extraordinary dividend or other distribution.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Carol Ammons
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  3/12/2024HouseAssigned to Small Business, Tech Innovation, and Entrepreneurship Committee
  4/4/2024HouseDo Pass / Short Debate Small Business, Tech Innovation, and Entrepreneurship Committee; 012-000-000
  4/4/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/8/2024HouseAdded Chief Co-Sponsor Rep. Anne Stava-Murray
  4/8/2024HouseAdded Co-Sponsor Rep. Lilian Jiménez
  4/11/2024HouseAdded Chief Co-Sponsor Rep. Edgar Gonzalez, Jr.
  4/11/2024HouseAdded Chief Co-Sponsor Rep. Jay Hoffman
  4/11/2024HouseAdded Co-Sponsor Rep. Suzanne M. Ness
  4/11/2024HouseAdded Co-Sponsor Rep. Janet Yang Rohr
  4/11/2024HouseAdded Co-Sponsor Rep. Blaine Wilhour
  4/11/2024HouseAdded Co-Sponsor Rep. Jennifer Sanalitro
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/18/2024HouseAdded Chief Co-Sponsor Rep. Kam Buckner
  4/18/2024HouseChief Co-Sponsor Changed to Rep. Kam Buckner
  4/18/2024HouseAdded Co-Sponsor Rep. Dagmara Avelar
  4/18/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/18/2024HouseThird Reading - Short Debate - Passed 104-000-000
  4/19/2024SenateArrive in Senate
  4/19/2024SenatePlaced on Calendar Order of First Reading
  4/19/2024SenateChief Senate Sponsor Sen. Celina Villanueva
  4/19/2024SenateFirst Reading
  4/19/2024SenateReferred to Assignments

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