IL SB3205 | 2017-2018 | 100th General Assembly

Status

Spectrum: Moderate Partisan Bill (Democrat 10-2)
Status: Engrossed on April 26 2018 - 50% progression
Action: 2018-05-25 - Final Action Deadline Extended-9(b) May 31, 2018
Text: Latest bill text (Engrossed) [HTML]

Summary

Amends the Technology Development Act. Provides that the State Treasurer may segregate a portion of the Treasurer's State investment portfolio that at no time shall be greater than 5% (rather than 2%) of the portfolio, in the Technology Development Account IIa. Provides further requirements regarding investment in Technology Development Account IIa. Provides that the Treasurer may solicit proposals from entities to manage and be the general partner of a separate fund consisting of investments from private sector investors that must invest, at the direction of the general partner (rather than Treasurer), in tandem with Technology Development Account IIa in a pro-rata portion. Provides that moneys in Technology Development Account IIa may be invested by the State Treasurer to provide venture capital to technology businesses, including co-investments. Provides that in no case shall more than 15% (rather than 10%) of the capital in the Technology Development Account IIa be invested in firms based outside of Illinois. Requires any Technology Development Account II-Recipient Fund to report the specified additional information to the Treasurer on a quarterly or annual basis as determined by the Treasurer. Removes language prohibiting the State Treasurer from investing more than one-third of Technology Development Account II in any given calendar year. Modifies the purpose of the Act. Makes conforming and technical changes. Defines terms.

Tracking Information

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Title

TREASURER-TECH DEVELOPMENT

Sponsors


Roll Calls

2018-04-26 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 5 Abs: 0) [PASS]

History

DateChamberAction
2018-05-25HouseFinal Action Deadline Extended-9(b) May 31, 2018
2018-05-21HousePlaced on Calendar Order of 3rd Reading - Short Debate
2018-05-21HouseSecond Reading - Short Debate
2018-05-18HousePlaced on Calendar 2nd Reading - Short Debate
2018-05-16HouseDo Pass / Short Debate State Government Administration Committee; 007-000-000
2018-05-07HouseAssigned to State Government Administration Committee
2018-05-03HouseAdded Alternate Co-Sponsor Rep. Peter Breen
2018-04-27HouseAdded Alternate Co-Sponsor Rep. Stephanie A. Kifowit
2018-04-27HouseAdded Alternate Co-Sponsor Rep. Laura Fine
2018-04-26HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
2018-04-26HouseAdded Alternate Chief Co-Sponsor Rep. Jonathan Carroll
2018-04-26HouseAdded Alternate Chief Co-Sponsor Rep. Natalie A. Manley
2018-04-26HouseAdded Alternate Chief Co-Sponsor Rep. Anna Moeller
2018-04-26HouseAdded Alternate Chief Co-Sponsor Rep. David McSweeney
2018-04-26HouseReferred to Rules Committee
2018-04-26HouseFirst Reading
2018-04-26HouseChief House Sponsor Rep. John Connor
2018-04-26HouseArrived in House
2018-04-26SenateThird Reading - Passed; 054-000-000
2018-04-23SenatePlaced on Calendar Order of 3rd Reading April 24, 2018
2018-04-23SenateSecond Reading
2018-04-18SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
2018-04-12SenatePlaced on Calendar Order of 2nd Reading April 17, 2018
2018-04-12SenateDo Pass as Amended Commerce and Economic Development; 010-000-000
2018-04-12SenateSenate Committee Amendment No. 1 Adopted
2018-04-11SenateAdded as Chief Co-Sponsor Sen. Patricia Van Pelt
2018-04-10SenateSenate Committee Amendment No. 1 Assignments Refers to Commerce and Economic Development
2018-04-06SenateSenate Committee Amendment No. 1 Referred to Assignments
2018-04-06SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
2018-02-27SenateAssigned to Commerce and Economic Development
2018-02-16SenateReferred to Assignments
2018-02-16SenateFirst Reading
2018-02-16SenateFiled with Secretary by Sen. Don Harmon

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3026511Amended CodeCitation Text
302655Amended CodeCitation Text

Illinois State Sources


Bill Comments

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