HB3706ham001 101ST GENERAL ASSEMBLY

Rep. Mark L. Walker

Filed: 3/26/2019

10100HB3706ham001 LRB101 10263 HLH 58247 a

AMENDMENT TO HOUSE BILL 3706

AMENDMENT NO. ______. Amend House Bill 3706 on page 2, by deleting lines 23 and 24; and

on page 10, by replacing lines 2 through 8 with the following:

"(5) at the time it is first certified it is not yet eligible for Series B financing, and it has received less than $5,000,000 in aggregate investment as of the date of the application, as determined by the Department by rule; this paragraph (5) does not apply to businesses that are undertaking pre-commercialization activity under paragraph (3) of this subsection; :

(A) it has fewer than 100 employees;

(B) it has been in operation in Illinois for not more than 10 consecutive years prior to the year of certification; and

(C) it has received not more than $10,000,000 in aggregate investments;"; and

on page 10, by replacing lines 19 and 20 with the following: "Revenue, shall adopt rules to administer this Section."; and

on page 10, by replacing lines 23 through 25 with the following: "business ventures shall be limited at $10,000,000 per calendar year, of which $500,000 shall be reserved for"; and

on page 11, line 19, by deleting "priority industries,".