97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
Introduced 2/8/2012, by Rep. Sandy Cole
SYNOPSIS AS INTRODUCED:
Creates the Illinois Economic Development Corporation Act. Creates the
Illinois Economic Development Corporation. Creates the board of directors
of the Corporation and sets forth the membership of the board. Provides
that the board shall develop
and implement economic programs to provide
support and expertise and financial assistance to companies
are investing and creating jobs in Illinois and
to support new business
start-ups and business expansion
and growth in Illinois. Sets forth the
powers of the board. Creates the Illinois Small Business Development Center
within the corporation to provide business counseling and educational
programs developed at the local, regional, and State level to support
Illinois small business creation and growth. Provides that the Center shall
provide assistance, in the form of training, counseling, and information
resources, to startup businesses and job-creator firms regarding the
startup process. Provides that the board shall submit annual reports to the
members of the General Assembly.
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A BILL FOR
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AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
This Act may be cited as the
Illinois Economic Development Corporation Act.
As used in this Act, except as
"Board" means the board of directors of the corporation.
"Center" means the Illinois Small Business Development
"Corporation" means the Illinois Economic Development
"Economic development program" means a program or activity
having the primary purpose of encouraging the establishment and
growth of business in this State, including the creation and
retention of jobs.
Illinois Economic Corporation; creation.
(a) The Illinois Economic Development Corporation is
created. The board of directors of the corporation is created
and shall consist of the Governor, who shall serve as
chairperson of the board, and 8 members, at least 2 of whom are
employed in the private sector. The members of the board shall