IL SB2946 | 2019-2020 | 101st General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 11-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

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.

Tracking Information

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Title

TECH DEV ACCT-GRANT AUTHORITY

Sponsors


History

DateChamberAction
2021-01-13SenateSession Sine Die
2020-12-17SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
2020-10-21SenateAdded as Co-Sponsor Sen. Adriane Johnson
2020-05-15SenateRule 2-10 Third Reading/Passage Deadline Established As May 31, 2020
2020-05-07SenateRule 2-10 Third Reading Deadline Established As May 29, 2020
2020-04-30SenateRule 2-10 Third Reading Deadline Established As May 22, 2020
2020-04-23SenateRule 2-10 Third Reading Deadline Established As May 15, 2020
2020-04-12SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
2020-03-25SenateRule 2-10 Third Reading Deadline Established As May 7, 2020
2020-03-05SenateAdded as Co-Sponsor Sen. Jennifer Bertino-Tarrant
2020-02-27SenateAdded as Co-Sponsor Sen. Michael E. Hastings
2020-02-27SenateAdded as Co-Sponsor Sen. Laura M. Murphy
2020-02-26SenateAdded as Co-Sponsor Sen. Antonio Muñoz
2020-02-25SenateAdded as Co-Sponsor Sen. Christopher Belt
2020-02-20SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
2020-02-20SenatePlaced on Calendar Order of 2nd Reading February 25, 2020
2020-02-20SenateDo Pass Commerce and Economic Development; 010-000-000
2020-02-19SenateAdded as Co-Sponsor Sen. Napoleon Harris, III
2020-02-19SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
2020-02-11SenateAssigned to Commerce and Economic Development
2020-02-04SenateReferred to Assignments
2020-02-04SenateFirst Reading
2020-02-04SenateFiled with Secretary by Sen. Suzy Glowiak Hilton

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3026510Amended CodeCitation Text
3026511Amended CodeCitation Text
3026520Amended CodeCitation Text

Illinois State Sources


Bill Comments

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