Illinois General Assembly - Full Text of HB1960
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Full Text of HB1960  102nd General Assembly

HB1960sam001 102ND GENERAL ASSEMBLY

Sen. Napoleon Harris, III

Filed: 5/21/2021

 

 


 

 


 
10200HB1960sam001LRB102 14855 RJF 26895 a

1
AMENDMENT TO HOUSE BILL 1960

2    AMENDMENT NO. ______. Amend House Bill 1960 by replacing
3everything after the enacting clause with the following:
 
4    "Section 1. Short title. This Act may be cited as the 21st
5Century Diversity Business Act.
 
6    Section 5. Definitions. As used in this Act:
7    "21st Century Diversity Business District" or "District"
8means a designated area of economic and business growth
9created by a municipality, whose resident population is at
10least 51% minority, participating in the Program created under
11this Act for which Program loan funds are utilized. An area is
12qualified to become a 21st Century Diversity Business District
13which: (i) is a contiguous area; (ii) comprises a minimum of
14one-half square mile and not more than 5 square miles in total
15area, exclusive of lakes and waterways; (iii) is entirely
16within the municipal corporate boundaries; and (iv) 51% or

 

 

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1more of the residents within district are minority
2individuals.
3    "Agreement" means the loan agreement between a business
4and the Department.
5    "Department" means the Department of Commerce and Economic
6Opportunity.
7    "Minority-owned business" means a business which is at
8least 51% owned by one or more minority persons, or in the case
9of a corporation, at least 51% of the stock in which is owned
10by one or more minority persons; and the management and daily
11business operations of which are controlled by one or more of
12the minority individuals who owns it.
13    "Minority person" shall mean a person who is a citizen or
14lawful permanent resident of the United States and who is any
15of 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
8Program created under this Act.
 
9    Section 10. 21st Century Diversity Business Program.
10    (a) The Department of Commerce and Economic Opportunity
11shall, subject to appropriation, create and administer the
1221st Century Diversity Business Program to provide loans and
13financial assistance to minority-owned businesses in a 21st
14Century Diversity Business district as provided under this
15Act.
16    (b) Any municipality may apply, on an annual basis, to the
17Department to create a 21st Century Diversity Business
18District under the Program. To be eligible, an applicant
19municipality must pass an ordinance declaring its intent to
20create a 21st Century Diversity Business District in the
21municipality. No more than 5 eligible municipalities may be
22chosen by the Department to create districts under the Program
23per year. At no point shall more than 30 municipalities be
24participating in the Program.
25    (c) Any eligible municipality chosen by the Department

 

 

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1under subsection (b) shall, subject to appropriation, be
2entitled to have minority-owned businesses in their 21st
3Century Diversity Business District apply for a subsidized
4loan from the Department. No individual business shall
5accumulate loans in aggregate greater than $1,000,000 under
6this Act. At no point, collectively, shall businesses in any
7participating municipality aggregate more than $5,000,000 in
8loans through the Program.
9    (d) Each municipality chosen by the Department to create a
10district under this Section shall, as prerequisite to
11participation, establish a 21st Century Diversity Business
12Investment Board with the purpose of helping grow
13minority-owned businesses.
14    (e) The Department and its grantees shall provide
15technical assistance to businesses receiving loans through the
16Program. This is including, but not limited to, support in
17business plans, business development, financial management,
18marketing, any other service that the Department may deem
19relevant to the establishment of a business for the purposes
20of this Act. At least once a year, the Department shall host an
21informational session, either in-person or virtually, for
22municipalities eligible to apply. At least once a year, the
23Department shall host an informational session, either
24in-person or virtually, for eligible businesses in the 21st
25Century Diversity Business district to learn more about
26opportunities for growth and access to state resources.

 

 

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1    (f) The Department shall enter into an agreement with a
2business that has received a loan under this Act. The
3agreement 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
14appropriation, make available to the public on the Internet
15website of the Office of the Secretary of State a registry of
16qualified minority business owners from which both public and
17private entities may seek services.
18    (b) The registry shall allow for qualified minority
19business owners to voluntarily add themselves to the registry.
20The Office of the Secretary of State may utilize data already
21held by other agencies. The Office of the Secretary of State
22may utilize existing forms to voluntarily collect
23self-reported information.
 
24    Section 20. Administrative rules. The Department shall

 

 

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1adopt all rules necessary for the administration of the
2Program and the implementation of the requirements of this
3Act.".