90th General Assembly
Summary of HB1477
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House Sponsors:
BRADFORD-STROGER, ERWIN AND LYONS,JOSEPH.

Short description: 
DCCA-TECHNOLOGY GRANTS PANEL                                               

Synopsis of Bill as introduced:
        Amends the Civil Administrative Code of Illinois.   Requires  the      
   Department  of  Commerce and Community Affairs to develop a program of      
   grants, loans, and loan  guarantees  to  promote  cooperation  between      
   businesses  in  Illinois  and the State's colleges and universities in      
   the research, development,  and  marketing  of  new  technologies  and      
   processes.   Requires  grants, loans, or loan guarantees to be for the      
   exclusive purpose of offsetting  the  costs  of  cooperative  ventures      
   between  a  business  and  a  college  or university that involves the      
   research, development, or marketing of a new  technology  or  process.      
   Creates  the Technology Advisory Panel.  Provides that the Panel shall      
   work with the Director of Commerce and Community  Affairs  to  develop      
   general  criteria  and  standards  governing  the  issuance of grants,      
   loans, and loan guarantees.                                                 
          STATE MANDATES FISCAL NOTE                                           
          HB1477 fails to create a State mandate.                              
          FISCAL NOTE (DCCA)                                                   
          Estimated fiscal impact on DCCA is $3,830,925.                       
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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