Bill Sponsors: IL SB3205 | 2017-2018 | 100th General Assembly

Bill Title: 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.

Spectrum: Moderate Partisan Bill (Democrat 10-3)

Status: (Passed) 2018-08-24 - Public Act . . . . . . . . . 100-1081 [SB3205 Detail]

Text: Latest bill text (Chaptered) [HTML]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Senator Don Harmon [D]PrimarySponsored BillsSD-039FollowTheMoneyBallotpediaVoteSmart
Senator Patricia Vanpelt-Watkins [D]CosponsorSponsored BillsSD-005FollowTheMoneyBallotpediaVoteSmart
Senator Iris Martinez [D]CosponsorSponsored BillsSD-020FollowTheMoneyBallotpediaVoteSmart
Representative John Connor [D]PrimarySponsored BillsHD-085FollowTheMoneyBallotpediaVoteSmart
Representative David McSweeney [R]CosponsorSponsored BillsHD-052FollowTheMoneyBallotpediaVoteSmart
Representative Anna Moeller [D]CosponsorSponsored BillsHD-043FollowTheMoneyBallotpediaVoteSmart
Representative Natalie Manley [D]CosponsorSponsored BillsHD-098FollowTheMoneyBallotpediaVoteSmart
Representative Jonathan Carroll [D]CosponsorSponsored BillsHD-057FollowTheMoneyBallotpediaVoteSmart
Representative Fred Crespo [D]CosponsorSponsored BillsHD-044FollowTheMoneyBallotpediaVoteSmart
Representative Laura Fine [D]CosponsorSponsored BillsHD-017FollowTheMoneyBallotpediaVoteSmart
Representative Stephanie Kifowit [D]CosponsorSponsored BillsHD-084FollowTheMoneyBallotpediaVoteSmart
Representative Peter Breen [R]CosponsorSponsored BillsHD-048FollowTheMoneyBallotpediaVoteSmart
Representative David Olsen [R]CosponsorSponsored BillsHD-081FollowTheMoneyBallotpediaVoteSmart

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