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1
HOUSE JOINT RESOLUTION

 
2    WHEREAS, The State of Illinois has deemed it important to
3undo historical prejudices by creating special classifications
4for businesses that are majority owned and operated by
5minorities (MBE), women (WBE), or veterans (VOB and SDVOB); and
 
6    WHEREAS, The State of Illinois' procurement policies
7commonly request that goals be met by MBE, WBE, and VOB/SDVOB
8businesses; and
 
9    WHEREAS, The State of Illinois has defined a special
10classification company as a company that is at least 51% owned
11and fully controlled by a special classification individual or
12a group of special classification individuals; and
 
13    WHEREAS, The State of Illinois Central Management
14Services' Business Enterprise Council has been charged with the
15task of determining whether a company meets the criteria for a
16special classification; and
 
17    WHEREAS, There have been well documented cases of
18fraudulent MBE, WBE, SDVOB, and VOD companies being created; it
19is the responsibility of the Business Enterprise Council to
20vigilantly oppose these applications for special
21classification; and
 

 

 

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1    WHEREAS, Small businesses in the present day marketplace
2will often sell equity in their company to investors, such as
3angel investors and venture capitalists, in order to raise
4capital; and
 
5    WHEREAS, It is acknowledged that equity investors in
6companies often will have no say in the operation, control, or
7direction of the company; therefore, be it
 
8    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
9NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE
10SENATE CONCURRING HEREIN, that we request that the Central
11Management Services Business Enterprise Council includes the
12equity ownership of silent investors of the same special
13classification in the calculations of the majority ownership of
14a company; and be it further
 
15    RESOLVED, That we request that the Central Management
16Services Business Enterprise Council include silent investor
17equity when calculating control of a company when the silent
18investors have given controlling authority to one or more
19persons of that classification; and be it further
 
20    RESOLVED, That a suitable copy of this resolution be
21delivered to the Central Management Services Business

 

 

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1Enterprise Council.