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Full Text of SB1462  100th General Assembly

SB1462sam001 100TH GENERAL ASSEMBLY

Sen. Linda Holmes

Filed: 3/10/2017

 

 


 

 


 
10000SB1462sam001LRB100 11206 HLH 22534 a

1
AMENDMENT TO SENATE BILL 1462

2    AMENDMENT NO. ______. Amend Senate Bill 1462 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Department of Commerce and Economic
5Opportunity Law of the Civil Administrative Code of Illinois is
6amended by adding Section 605-1020 as follows:
 
7    (20 ILCS 605/605-1020 new)
8    Sec. 605-1020. Entrepreneur Learner's Permit pilot
9program.
10    (a) There is hereby established an Entrepreneur Learner's
11Permit pilot program that shall be administered by the
12Department on and after July 1, 2017 and prior to June 30,
132019. The purpose of the program shall be to encourage and
14assist first-time entrepreneurs in starting new information
15services, biotechnology, and green technology businesses by
16providing reimbursements to those entrepreneurs for any State

 

 

10000SB1462sam001- 2 -LRB100 11206 HLH 22534 a

1filing, permitting, or licensing fees associated with the
2formation of such a business in the State.
3    (b) Applicants for participation in the Entrepreneur
4Learner's Permit pilot program shall apply to the Department,
5in a form and manner prescribed by the Department, prior to the
6formation of the business for which the entrepreneur seeks
7reimbursement of those fees. The Department shall adopt rules
8for the review and approval of applications, provided that it
9(1) shall give priority to applicants who are female or
10minority persons, or both, and (2) shall not approve any
11application by a person who will not be a first-time business
12owner. Reimbursements under this Section shall be provided in
13the manner determined by the Department.
14    (c) The aggregate amount of all reimbursements provided by
15the Department pursuant to this Section shall not exceed
16$500,000 in any State fiscal year.
17    (d) On or before February 1, 2019, the Department shall
18submit a report to the Governor and the General Assembly on the
19cumulative effectiveness of the Entrepreneur Learner's Permit
20pilot program. The review shall include, but not be limited to,
21the number and type of businesses that were formed in
22connection with the pilot program, the current status of each
23business formed in connection with the pilot program, the
24number of employees employed by each such business, the
25economic impact to the State from the pilot program, the
26satisfaction of participants in the pilot program, and a

 

 

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1recommendation as to whether the program should be continued
2beyond June 30, 2019.
3    (e) As used in this Section, the terms "female" and
4"minority person" have the meanings given to those terms in the
5Business Enterprise for Minorities, Females, and Persons with
6Disabilities Act.
 
7    Section 99. Effective date. This Act takes effect July 1,
82017.".