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

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Don Harmon [D]	Primary	Sponsored Bills	SD-039	FollowTheMoney	Ballotpedia	VoteSmart
Senator Patricia Van Pelt [D]	Cosponsor	Sponsored Bills	SD-005	FollowTheMoney	Ballotpedia	VoteSmart
Senator Iris Martinez [D]	Cosponsor	Sponsored Bills	SD-020	FollowTheMoney	Ballotpedia	VoteSmart
Senator John Connor [D]	Primary	Sponsored Bills	SD-043	FollowTheMoney	Ballotpedia	VoteSmart
Representative David McSweeney [R]	Cosponsor	Sponsored Bills	HD-052	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anna Moeller [D]	Cosponsor	Sponsored Bills	HD-043	FollowTheMoney	Ballotpedia	VoteSmart
Representative Natalie Manley [D]	Cosponsor	Sponsored Bills	HD-098	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jonathan Carroll [D]	Cosponsor	Sponsored Bills	HD-057	FollowTheMoney	Ballotpedia	VoteSmart
Representative Fred Crespo [D]	Cosponsor	Sponsored Bills	HD-044	FollowTheMoney	Ballotpedia	VoteSmart
Senator Laura Fine [D]	Cosponsor	Sponsored Bills	SD-009	FollowTheMoney	Ballotpedia	VoteSmart
Representative Stephanie Kifowit [D]	Cosponsor	Sponsored Bills	HD-084	FollowTheMoney	Ballotpedia	VoteSmart
Representative Peter Breen [R]	Cosponsor	Sponsored Bills	HD-048	FollowTheMoney	Ballotpedia	VoteSmart
Representative David Olsen [R]	Cosponsor	Sponsored Bills	HD-081	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL SB3205