Full Text of HB1960 102nd General Assembly
HB1960sam001 102ND GENERAL ASSEMBLY | Sen. Napoleon Harris, III Filed: 5/21/2021
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| 1 | | AMENDMENT TO HOUSE BILL 1960
| 2 | | AMENDMENT NO. ______. Amend House Bill 1960 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 1. Short title. This Act may be cited as the 21st | 5 | | Century Diversity Business Act. | 6 | | Section 5. Definitions. As used in this Act:
| 7 | | "21st Century Diversity Business District" or "District" | 8 | | means a designated area of economic and business growth | 9 | | created by a municipality, whose resident population is at | 10 | | least 51% minority, participating in the Program created under | 11 | | this Act for which Program loan funds are utilized. An area is | 12 | | qualified to become a 21st Century Diversity Business District | 13 | | which: (i) is a contiguous area; (ii) comprises a minimum of | 14 | | one-half square mile and not more than 5 square miles in total | 15 | | area, exclusive of lakes and waterways; (iii) is entirely | 16 | | within the municipal corporate boundaries; and (iv) 51% or |
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| 1 | | more of the residents within district are minority | 2 | | individuals.
| 3 | | "Agreement" means the loan agreement between a business | 4 | | and the Department.
| 5 | | "Department" means the Department of Commerce and Economic | 6 | | Opportunity.
| 7 | | "Minority-owned business" means a business which is at | 8 | | least 51% owned by one or more minority persons, or in the case | 9 | | of a corporation, at least 51% of the stock in which is owned | 10 | | by one or more minority persons; and the management and daily | 11 | | business operations of which are controlled by one or more of | 12 | | the minority individuals who owns it.
| 13 | | "Minority person" shall mean a person who is a citizen or | 14 | | lawful permanent resident of the United States and who is any | 15 | | of the following:
| 16 | | (1) American Indian or Alaska Native (a person having | 17 | | origins in any of the original peoples of North and South | 18 | | America, including Central America, and who maintains | 19 | | tribal affiliation or community attachment).
| 20 | | (2) Asian (a person having origins in any of the | 21 | | original peoples of the Far East, Southeast Asia, or the | 22 | | Indian subcontinent, including, but not limited to, | 23 | | Cambodia, China, India, Japan, Korea, Malaysia, Pakistan, | 24 | | the Philippine Islands, Thailand, and Vietnam).
| 25 | | (3) Black or African American (a person having origins | 26 | | in any of the black racial groups of Africa).
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| 1 | | (4) Hispanic or Latino (a person of Cuban, Mexican, | 2 | | Puerto Rican, South or Central American, or other Spanish | 3 | | culture or origin, regardless of race).
| 4 | | (5) Native Hawaiian or Other Pacific Islander (a | 5 | | person having origins in any of the original peoples of | 6 | | Hawaii, Guam, Samoa, or other Pacific Islands).
| 7 | | "Program" means the 21st Century Diversity Business | 8 | | Program created under this Act.
| 9 | | Section 10. 21st Century Diversity Business Program.
| 10 | | (a) The Department of Commerce and Economic Opportunity | 11 | | shall, subject to appropriation, create and administer the | 12 | | 21st Century Diversity Business Program to provide loans and | 13 | | financial assistance to minority-owned businesses in a 21st | 14 | | Century Diversity Business district as provided under this | 15 | | Act.
| 16 | | (b) Any municipality may apply, on an annual basis, to the | 17 | | Department to create a 21st Century Diversity Business | 18 | | District under the Program. To be eligible, an applicant | 19 | | municipality must pass an ordinance declaring its intent to | 20 | | create a 21st Century Diversity Business District in the | 21 | | municipality. No more than 5 eligible municipalities may be | 22 | | chosen by the Department to create districts under the Program | 23 | | per year. At no point shall more than 30 municipalities be | 24 | | participating in the Program.
| 25 | | (c) Any eligible municipality chosen by the Department |
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| 1 | | under subsection (b) shall, subject to appropriation, be | 2 | | entitled to have minority-owned businesses in their 21st | 3 | | Century Diversity Business District apply for a subsidized | 4 | | loan from the Department. No individual business shall | 5 | | accumulate loans in aggregate greater than $1,000,000 under | 6 | | this Act. At no point, collectively, shall businesses in any | 7 | | participating municipality aggregate more than $5,000,000 in | 8 | | loans through the Program.
| 9 | | (d) Each municipality chosen by the Department to create a | 10 | | district under this Section shall, as prerequisite to | 11 | | participation, establish a 21st Century Diversity Business | 12 | | Investment Board with the purpose of helping grow | 13 | | minority-owned businesses.
| 14 | | (e) The Department and its grantees shall provide | 15 | | technical assistance to businesses receiving loans through the | 16 | | Program. This is including, but not limited to, support in | 17 | | business plans, business development, financial management, | 18 | | marketing, any other service that the Department may deem | 19 | | relevant to the establishment of a business for the purposes | 20 | | of this Act. At least once a year, the Department shall host an | 21 | | informational session, either in-person or virtually, for | 22 | | municipalities eligible to apply. At least once a year, the | 23 | | Department shall host an informational session, either | 24 | | in-person or virtually, for eligible businesses in the 21st | 25 | | Century Diversity Business district to learn more about | 26 | | opportunities for growth and access to state resources.
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| 1 | | (f) The Department shall enter into an agreement with a | 2 | | business that has received a loan under this Act. The | 3 | | agreement must include all of the following:
| 4 | | (1) A requirement that the business shall make a | 5 | | good-faith effort to maintain operations in the State of | 6 | | Illinois for the duration of the loan.
| 7 | | (2) A requirement that the Director is authorized to | 8 | | verify with the appropriate State agencies information | 9 | | provided by the applicant.
| 10 | | (3) Any other performance conditions or contract | 11 | | provisions as the Department determines are appropriate.
| 12 | | Section 15. Minority-owned business database.
| 13 | | (a) The Office of the Secretary of State shall, subject to | 14 | | appropriation, make available to the public on the Internet | 15 | | website of the Office of the Secretary of State a registry of | 16 | | qualified minority business owners from which both public and | 17 | | private entities may seek services.
| 18 | | (b) The registry shall allow for qualified minority | 19 | | business owners to voluntarily add themselves to the registry. | 20 | | The Office of the Secretary of State may utilize data already | 21 | | held by other agencies. The Office of the Secretary of State | 22 | | may utilize existing forms to voluntarily collect | 23 | | self-reported information.
| 24 | | Section 20. Administrative rules. The Department shall |
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| 1 | | adopt all rules necessary for the administration of the | 2 | | Program and the implementation of the requirements of this | 3 | | Act.".
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