Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall establish the Small Business Emergency Loan Program. Provides that from funds made available to the Department from the State Small Business Credit Initiative Fund, the Department shall offer low-interest loans of up to $50,000 to eligible small businesses for working capital, with at least 50% of loan proceeds to be applied for specified purposes. Provides that borrower eligibility and loan terms under the Program shall be as prescribed by the Department. Provides for the adoption of rules.

Sponsorship: Partisan Bill (Democrat 4)

Status: (Introduced - Dead) 2022-04-01 - Added Co-Sponsor Rep. Maurice A. West, II [HB5274 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2022-01-27	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5274

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5274 currently on file.