Illinois House Bill 4505 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 4 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Technology Development Act. Removes a provision specifying that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 10% of the total investments in the fund. Provides that distributions from a TDA II-Recipient Fund, in an amount not to exceed the commitment amount and total distributions received, may be reinvested into a specified account without being counted against the 5% cap. Provides that specified moneys in the Technology Development Fund may be provided as grants to technology businesses in order to foster, accelerate, and scale technology innovation in Illinois. Modifies the term "technology business" to expand the meaning of technology oriented or emerging activity. Makes conforming changes. Effective immediately.

TECH DEV ACCT-GRANT AUTHORITY

Sen. Mark Walker [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-03-12	House	Assigned to Revenue & Finance Committee
2020-02-04	House	Referred to Rules Committee
2020-02-04	House	First Reading
2020-02-04	House	Filed with the Clerk by Rep. Mark L. Walker

Chapter	Article	Section	Citation Type	Statute Text
30	265	10	Amended Code	Citation Text
30	265	11	Amended Code	Citation Text
30	265	20	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4505&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB4505.htm