IL SB3654 | 2009-2010 | 96th General Assembly
Status
Spectrum: Strong Partisan Bill (Democrat 15-1)
Status: Engrossed on March 11 2010 - 50% progression, died in committee
Action: 2010-04-30 - Added Alternate Co-Sponsor Rep. Jehan A. Gordon
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on March 11 2010 - 50% progression, died in committee
Action: 2010-04-30 - Added Alternate Co-Sponsor Rep. Jehan A. Gordon
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Emerging Technology Industries Act. Requires the Department of Commerce and Economic Opportunity to establish and maintain a program to award grants to emerging-technology enterprises in the State. Sets forth eligibility requirements and funding priorities for awarding the grants, and sets forth procedures for awarding the grants. Requires written contracts in which the emerging-technology enterprise guarantees that it will perform the actions expected to be performed. Sets dollar limits on matching funds for federal Small Business Innovative Research (SBIR) grants and total grant matching funds per year. Limits total income tax credits to $15,000,000 in any one State fiscal year. Amends the State Finance Act to create the Emerging Technology Grant Fund. Amends the Illinois Income Tax Act. Creates an income tax credit for qualified investors who make an investment in an emerging technology enterprise in the State. Provides that the Department of Commerce and Economic Opportunity must certify the amount of the credit and sets forth the procedures for the application and certification of the credit. Sets forth provisions for the revocation and recapture of the tax credit. Contains other provisions. Effective immediately.
Title
EMERGING TECHNOLOGY INVESTMENT
Sponsors
Roll Calls
2010-03-11 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 6 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-04-30 | Added Alternate Co-Sponsor Rep. Jehan A. Gordon | |
| 2010-04-30 | Added Alternate Co-Sponsor Rep. Michael K. Smith | |
| 2010-03-26 | Added Alternate Co-Sponsor Rep. Eddie Washington | |
| 2010-03-22 | Added Alternate Chief Co-Sponsor Rep. Carol A. Sente | |
| 2010-03-11 | Referred to Rules Committee | |
| 2010-03-11 | First Reading | |
| 2010-03-11 | Placed on Calendar Order of First Reading | |
| 2010-03-11 | Chief House Sponsor Rep. William B. Black | |
| 2010-03-11 | Arrived in House | |
| 2010-03-11 | Third Reading - Passed; 053-000-001 | |
| 2010-03-11 | Added as Co-Sponsor Sen. Ira I. Silverstein | |
| 2010-03-11 | Added as Co-Sponsor Sen. Terry Link | |
| 2010-03-11 | Added as Co-Sponsor Sen. Jacqueline Y. Collins | |
| 2010-03-11 | Added as Co-Sponsor Sen. Heather Steans | |
| 2010-03-11 | Added as Co-Sponsor Sen. Toi W. Hutchinson | |
| 2010-03-11 | Added as Co-Sponsor Sen. John M. Sullivan | |
| 2010-03-11 | Added as Co-Sponsor Sen. A. J. Wilhelmi | |
| 2010-03-11 | Added as Co-Sponsor Sen. William R. Haine | |
| 2010-03-11 | Added as Co-Sponsor Sen. Linda Holmes | |
| 2010-03-11 | Added as Co-Sponsor Sen. Deanna Demuzio | |
| 2010-03-11 | Added as Co-Sponsor Sen. Kimberly A. Lightford | |
| 2010-03-11 | Added as Chief Co-Sponsor Sen. Emil Jones, III | |
| 2010-03-11 | Added as Chief Co-Sponsor Sen. Pamela J. Althoff | |
| 2010-03-11 | Added as Chief Co-Sponsor Sen. Michael Noland | |
| 2010-03-10 | Placed on Calendar Order of 3rd Reading March 11, 2010 | |
| 2010-03-10 | Second Reading | |
| 2010-03-04 | Placed on Calendar Order of 2nd Reading March 9, 2010 | |
| 2010-03-04 | Do Pass Commerce; 009-000-000 | |
| 2010-02-24 | Assigned to Commerce | |
| 2010-02-24 | Added as Chief Co-Sponsor Sen. Dan Kotowski | |
| 2010-02-11 | Referred to Assignments | |
| 2010-02-11 | First Reading | |
| 2010-02-11 | Filed with Secretary by Sen. Michael W. Frerichs |
