Bill Text: IL SB1462 | 2017-2018 | 100th General Assembly | Enrolled
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-Enrolled.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-Enrolled.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) Subject to appropriation, there is hereby established | ||||||
11 | an Entrepreneur Learner's Permit pilot program that shall be | ||||||
12 | administered by the Department beginning on July 1 of the first | ||||||
13 | fiscal year for which an appropriation of State moneys is made | ||||||
14 | for that purpose and continuing for the next 2 immediately | ||||||
15 | succeeding fiscal years; however, the Department is not | ||||||
16 | required to administer the program in any fiscal year for which | ||||||
17 | such an appropriation has not been made. The purpose of the | ||||||
18 | program shall be to encourage and assist beginning | ||||||
19 | entrepreneurs in starting new information services, | ||||||
20 | biotechnology, and green technology businesses by providing | ||||||
21 | reimbursements to those entrepreneurs for any State filing, | ||||||
22 | permitting, or licensing fees associated with the formation of | ||||||
23 | such a business in the State. |
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1 | (b) Applicants for participation in the Entrepreneur | ||||||
2 | Learner's Permit pilot program shall apply to the Department, | ||||||
3 | in a form and manner prescribed by the Department, prior to the | ||||||
4 | formation of the business for which the entrepreneur seeks | ||||||
5 | reimbursement of those fees. The Department shall adopt rules | ||||||
6 | for the review and approval of applications, provided that it | ||||||
7 | (1) shall give priority to applicants who are female or | ||||||
8 | minority persons, or both, and (2) shall not approve any | ||||||
9 | application by a person who will not be a beginning | ||||||
10 | entrepreneur. Reimbursements under this Section shall be | ||||||
11 | provided in the manner determined by the Department. In no | ||||||
12 | event shall an applicant apply for participation in the program | ||||||
13 | more than 3 times. | ||||||
14 | (c) The aggregate amount of all reimbursements provided by | ||||||
15 | the Department pursuant to this Section shall not exceed | ||||||
16 | $500,000 in any State fiscal year. | ||||||
17 | (d) On or before February 1 of the last calendar year | ||||||
18 | during which the pilot program is in effect, the Department | ||||||
19 | shall submit a report to the Governor and the General Assembly | ||||||
20 | on the cumulative effectiveness of the Entrepreneur Learner's | ||||||
21 | Permit pilot program. The review shall include, but not be | ||||||
22 | limited to, the number and type of businesses that were formed | ||||||
23 | in connection with the pilot program, the current status of | ||||||
24 | each business formed in connection with the pilot program, the | ||||||
25 | number of employees employed by each such business, the | ||||||
26 | economic impact to the State from the pilot program, the |
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1 | satisfaction of participants in the pilot program, and a | ||||||
2 | recommendation as to whether the program should be continued. | ||||||
3 | (e) As used in this Section: | ||||||
4 | "Beginning entrepreneur" means an individual who, at | ||||||
5 | the time he or she applies for participation in the | ||||||
6 | program, has less than 5 years of experience as a business | ||||||
7 | owner and is not a current business owner. | ||||||
8 | "Female" and "minority person" have the meanings given | ||||||
9 | to those terms in the Business Enterprise for Minorities, | ||||||
10 | Females, and Persons with Disabilities Act.
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