FLOWERS-FEIGENHOLTZ-SCOTT-DART, HOWARD, KENNER AND SILVA.
Synopsis of Bill as introduced:
Creates the Minority and Female Franchise Equity Investment Act.
Authorizes the Attorney General to administer a program of financial
assistance to enable minority and female owned businesses to purchase
franchises. Amends the Franchise Disclosure Act of 1987 to increase
certain franchise fees. Amends the State Finance Act to create the
necessary special fund within the State treasury.
Minimal fiscal and prison population impact on DOC.
FISCAL NOTE (Attorney General)
A separate bureau would require an annual budget of $727,651
initially. Subsequent supplemental funding would be necessary
as revenues generated would be insufficient for full funding.
HOUSE AMENDMENT NO. 1.
Deletes reference to:
30 ILCS 105/5.449 new
Deletes everything. Creates the Minority and Female Franchise
Investment Act. Provides that the Director of Commerce and Community
Affairs shall administer a program to encourage the development of
franchises by minorities and women. Sets the powers and duties of the
Director with respect to the program. Sets qualifications for
persons participating in the program. Creates the Illinois Franchise
Trust Fund to make loans to qualifying persons. Contains other
provisions. Amends the Franchise Disclosure Act of 1987 to increase
certain franchise fees.
STATE MANDATES FISCAL NOTE, H-AM 1
HB621, amended by H-am 1, fails to create a State mandate.
HOME RULE NOTE, H-AM 1
HB621, amended by H-am 1, fails to preempt home rule authority.
FISCAL NOTE, H-AM 1 (DCCA)
Fiscal impact cannot be determined at this time.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status