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(30 ILCS 750/9-5.2) (from Ch. 127, par. 2709-5.2)
Sec. 9-5.2. Illinois Equity
Fund. (a) There is created the Illinois Equity
Fund, to be held as a separate fund within the State Treasury.
The purpose of the Illinois Equity Fund is to make equity investments in
Illinois. All financing will be done in conjunction with
participating lenders or other investors. Investment proceeds
may be directed to working capital expenses associated with
the introduction of new technical products or services of individual business
projects or may be used for equity finance pools operated by intermediaries.
(b) There shall be deposited in the Illinois Equity Fund
such amounts, including but not limited to:
(i) All receipts including dividends, principal and |
| interest payments, royalties, or other return on investment from any applicable loan made from the Illinois Equity Fund, from direct appropriations by the General Assembly from the Build Illinois Fund or from intermediary agreements made from the Illinois Equity Fund entered into by the Department;
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(ii) All proceeds of assets of whatever nature
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| received by the Department as a result of default or delinquency with respect to loan agreements made from the Illinois Equity Fund, or from direct appropriations by the General Assembly including proceeds from the sale, disposal, lease or rental of real or personal property which the Department may receive as a result thereof;
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(iii) any appropriations, grants or gifts made to the
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(iv) any income received from interest on investments
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| of moneys in the Illinois Equity Fund.
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(c) The Treasurer may invest moneys in the Illinois Equity
Fund in securities constituting direct obligations of the
United States Government, or in obligations the principal of
and interest on which are guaranteed by the United States
Government, or in certificates of deposit of any State or
national bank which are fully secured by obligations guaranteed
as to principal and interest by the United States Government.
(Source: P.A. 102-1071, eff. 6-10-22.)
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