Bill Text: IL HB3337 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Illinois Incubator and Collaborative Workspace Initiative Program to be implemented and administered by the Department of Commerce and Economic Opportunity. Provides that the Program shall support entrepreneurs by providing rent support grants and aiding collaborative workspaces in the acquisition of new tenants. Specifies grant requirements under the Program. Provides eligibility requirements for collaborative workspaces and tenants under the Program. Provides for the adoption of rules.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3337 Detail]

Download: Illinois-2021-HB3337-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB3337 Introduced , by Rep. Jeff Keicher SYNOPSIS AS INTRODUCED:
20 ILCS 605/605-1055 new
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Illinois Incubator and Collaborative Workspace Initiative Program to be implemented and administered by the Department of Commerce and Economic Opportunity. Provides that the Program shall support entrepreneurs by providing rent support grants and aiding collaborative workspaces in the acquisition of new tenants. Specifies grant requirements under the Program. Provides eligibility requirements for collaborative workspaces and tenants under the Program. Provides for the adoption of rules.
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A BILL FOR
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AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Department of Commerce and Economic
Opportunity Law of the Civil Administrative Code of Illinois
is amended by adding Section 605-1055 as follows:
(20 ILCS 605/605-1055 new)
Sec. 605-1055. Illinois Incubator and Collaborative
Workspace Initiative Program.
(a) There is hereby created the Illinois Incubator and
Collaborative Workspace Initiative Program to be implemented
and administered by the Department of Commerce and Economic
Opportunity. The Program shall support entrepreneurs by
providing rent support grants and aiding collaborative
workspaces in the acquisition of new tenants.
(b) Subject to appropriation, grants under the Program
shall support rent of early stage technology and life science
companies in Illinois collaborative workspaces. Grants shall
cover rent payments for 2, 4, or 6 month increments. A
collaborative workspace must match the grant to the tenant
company on a 1:2 ratio basis. The tenant company must commit to
continuing to work from the collaborative workspace, including
paying rent, for a period of no less than the Program and the

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collaborative workspaces combined months of grant support.
Funding for grants under the Program may be drawn from federal
funds received by the State for purposes related to the
COVID-19 public health emergency.
(c) To qualify as an approved incubator and collaborative
workspace under the Program, a collaborative workspace must
meet the following criteria:
(1) be a located in Illinois;
(2) have a minimum of 5 unique paying tenants over the
last 2 years;
(3) have an operating cost;
(4) offer at least one type of work space, including
private office space, hot-desks, or dedicated desks;
(5) commit to hosting at least 10 innovation ecosystem
building events in a year, including, but not limited to,
meet-ups, speaker series, and office hours for lawyers,
accountants, consultants, and investors;
(6) certify that the workspace charges rent to tenants
and that the rent that would be charged to the startup and
supported by the Program is market-rate;
(7) commit to matching the Program's grant to the
tenant company on a 1:2 ratio basis; and
(8) meet any applicable certification requirements
established under Illinois law or as may be required by
the Department.
(d) When a collaborative workspace is approved for

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participation in the Program under subsection (c), it shall
then be eligible to apply for a grant under the Program. As
prerequisite to receiving a grant under the Program, a
collaborative workspace must identify at least one tenant
company it would like to offer support to for purposes of the
Program.
(e) To qualify as an approved incubator and collaborative
workspace tenant under the Program, a prospective tenant must
meet the following criteria:
(1) be registered to do business in Illinois;
(2) provide a 2-page executive summary of their
business;
(3) certify that it: (i) is a technology and life
sciences company; (ii) is applying within 3 years after
its date of formation; (iii) has fewer than 10 employees;
(iv) has less than $1,000,000 in trailing 12-months gross
sales from date of application submission; (v) has at
least one full-time Illinois employee that will be working
in the facility; and (vi) has not previously utilized
another collaborative workspace in Illinois; and
(4) commit to working at the facility for the duration
of the Program and the collaborative workspace's combined
months of grant support.
(f) The Department shall adopt all rules necessary for the
implementation and administration of the Program established
under this Section.