Bill Text: IL SB1462 | 2017-2018 | 100th General Assembly | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Democrat 16-0)
Status: (Passed) 2017-11-08 - Public Act . . . . . . . . . 100-0541 [SB1462 Detail]
Download: Illinois-2017-SB1462-Engrossed.html
Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Democrat 16-0)
Status: (Passed) 2017-11-08 - Public Act . . . . . . . . . 100-0541 [SB1462 Detail]
Download: Illinois-2017-SB1462-Engrossed.html
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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois, | ||||||
3 | represented in the General Assembly:
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4 | Section 5. The Department of Commerce and Economic | ||||||
5 | Opportunity Law of the
Civil Administrative Code of Illinois is | ||||||
6 | amended by adding Section 605-1020 as follows:
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7 | (20 ILCS 605/605-1020 new) | ||||||
8 | Sec. 605-1020. Entrepreneur Learner's Permit pilot | ||||||
9 | program. | ||||||
10 | (a) There is hereby established an Entrepreneur Learner's | ||||||
11 | Permit pilot program that shall be administered by the | ||||||
12 | Department on and after July 1, 2017 and prior to June 30, | ||||||
13 | 2019. The purpose of the program shall be to encourage and | ||||||
14 | assist first-time entrepreneurs in starting new information | ||||||
15 | services, biotechnology, and green technology businesses by | ||||||
16 | providing reimbursements to those entrepreneurs for any State | ||||||
17 | filing, permitting, or licensing fees associated with the | ||||||
18 | formation of such a business in the State. | ||||||
19 | (b) Applicants for participation in the Entrepreneur | ||||||
20 | Learner's Permit pilot program shall apply to the Department, | ||||||
21 | in a form and manner prescribed by the Department, prior to the | ||||||
22 | formation of the business for which the entrepreneur seeks | ||||||
23 | reimbursement of those fees. The Department shall adopt rules |
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1 | for the review and approval of applications, provided that it | ||||||
2 | (1) shall give priority to applicants who are female or | ||||||
3 | minority persons, or both, and (2) shall not approve any | ||||||
4 | application by a person who will not be a first-time business | ||||||
5 | owner. Reimbursements under this Section shall be provided in | ||||||
6 | the manner determined by the Department. | ||||||
7 | (c) The aggregate amount of all reimbursements provided by | ||||||
8 | the Department pursuant to this Section shall not exceed | ||||||
9 | $500,000 in any State fiscal year. | ||||||
10 | (d) On or before February 1, 2019, the Department shall | ||||||
11 | submit a report to the Governor and the General Assembly on the | ||||||
12 | cumulative effectiveness of the Entrepreneur Learner's Permit | ||||||
13 | pilot program. The review shall include, but not be limited to, | ||||||
14 | the number and type of businesses that were formed in | ||||||
15 | connection with the pilot program, the current status of each | ||||||
16 | business formed in connection with the pilot program, the | ||||||
17 | number of employees employed by each such business, the | ||||||
18 | economic impact to the State from the pilot program, the | ||||||
19 | satisfaction of participants in the pilot program, and a | ||||||
20 | recommendation as to whether the program should be continued | ||||||
21 | beyond June 30, 2019. | ||||||
22 | (e) As used in this Section, the terms "female" and | ||||||
23 | "minority person" have the meanings given to those terms in the | ||||||
24 | Business Enterprise for Minorities, Females, and Persons with | ||||||
25 | Disabilities Act.
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26 | Section 99. Effective date. This Act takes effect July 1, |
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