FANTIN-HOLBROOK. (PARKER-RADOGNO-HENDON-HALVORSON) 20 ILCS 605/46.70 new 30 ILCS 105/5.449 new Amends the Civil Administrative Code of Illinois and the State Finance Act to create the Small Business Incubator Fund. Provides that the Director of Commerce and Community Affairs may make grants to small business incubators dedicated to the successful development of entrepreneurial companies. Provides that the grants shall not exceed 50% of the State income taxes paid in the previous calendar year by qualified businesses leasing space from eligible small business incubators. Provides that an amount equal to 50% of these taxes shall be annually appropriated to the fund. Establishes an application process for grants and limitations on the use of the grants. Effective immediately. STATE MANDATES FISCAL NOTE HB2061 fails to create a State mandate. FISCAL NOTE (Dept. of Revenue) The Dept. cannot estimate how many businesses qualify or the amount of State income paid by such businesses, nor estimate the amount of money that will be diverted from GRF to the Small Business Incubator Fund annually. SENATE AMENDMENT NO. 2. Sets a limit on the amount of the grant given to a small business incubator. Provides that 5% of the amount appropriated into the Small Business Incubator Fund shall be allotted to the Department of Commerce and Community Affairs to administer, oversee, and evaluate the small business incubator grant process and outcome. Provides that the small business incubator grant process is repealed on December 31, 2002. Provides that the evaluation of the grant process shall recommend its continuation or its repeal and shall be submitted to the Governor and the General Assembly before December 31, 2001. 97-03-10 H FIRST READING 97-03-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-11 H ASSIGNED TO COMMITTEE LABOR COMERCE 97-03-20 H DO PASS/SHORT DEBATE 021-000-000 HLBC 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-03-20 H FISCAL NOTE REQUESTED PARKE 97-03-20 H STATE MANDATES FISCAL NOTE REQUESTED PARKE 97-03-20 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-07 H STATE MANDATES FISCAL NOTE FILED 97-04-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-14 H FISCAL NOTE FILED 97-04-14 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-15 H SECOND READING-SHORT DEBATE 97-04-15 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-18 H THIRD READING/SHORT DEBATE/PASSED 084-031-000 97-04-23 S ARRIVE IN SENATE 97-04-23 S PLACED CALENDAR ORDER OF FIRST READING 97-04-24 97-04-24 S CHIEF SPONSOR PARKER 97-04-24 S FIRST READING 97-04-24 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-29 S ASSIGNED TO COMMITTEE COMM & INDUST 97-05-07 S AMENDMENT NO. 01-COMM & INDUS S 97-05-07 S TABLED 97-05-07 S AMENDMENT NO. 02-COMM & INDUS S 97-05-07 S ADOPTED 97-05-07 S DO PASS AS AMENDED 006-001-000 SCED 97-05-07 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-08 97-05-08 S SECOND READING 97-05-08 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-09 97-05-08 S ADDED AS A CHIEF CO-SPONSOR HENDON 97-05-08 S ADDED AS A CHIEF CO-SPONSOR HALVORSON 97-05-13 S SPONSOR REMOVED HENDON 97-05-13 S CHIEF CO-SPONSOR CHANGED TO RADOGNO 97-05-14 S THIRD READING - PASSED 050-007-000 97-05-15 H ARRIVE IN HOUSE 97-05-15 H MOTION FILED CONCUR 02/FANTIN 97-05-15 H REFERRED TO RULES COMMITTEE/RULE 75(A) 02 97-05-15 H MOTION REFERRED TO 02/HLBC 97-05-15 H PLACED ON CALENDAR ORDER OF CONCURRENCE 02 97-05-16 H BE APPROVED FOR CONSIDERATION 02/015-000-000 97-05-16 H PLACED ON CALENDAR ORDER OF CONCURRENCE 02 97-05-16 H ADDED AS A JOINT SPONSOR HOLBROOK 97-05-19 H HSE CONCURS IN SEN AMENDMENTS (NO.) 02/093-024-000 97-05-19 H PASSED BOTH HOUSES 97-06-17 H SENT TO THE GOVERNOR 97-08-14 H GOVERNOR VETOED 97-08-14 H PLACED CALENDAR TOTAL VETO OCTOBER 28, 1997 97-10-30 H TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary