Date	Chamber	Action
1/13/2021	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

30 ILCS 105/5.935 new

Synopsis As Introduced
Creates the Black Wall Street Program Act. Requires the Department of Commerce and Economic Opportunity to create and administer the Black Wall Street Program to provide loans and financial assistance to designated communities for the creation of Black Wall Street Business Districts. Specifies further requirements concerning Program eligibility and the disbursement of loan funds under the Program. Requires each municipality receiving a loan under the Program to establish a municipal investment program by which loan funds are dispersed to qualified African American business entities and persons for the purpose of establishing Black Wall Street Business Districts. Allows for the use of loan funds to invest in, issue, or sell bonds for the purpose of the construction of Black Wall Street Business Districts and all related matters. Requires the Department to compile and make available to the public a database of qualified African American contractors and engineers. Requires the Department to create and administer a Black Wall Street Investment Hub for the purposes of providing specified assistance to African American business entities and persons in establishing Black Wall Street businesses. Provides for the adoption of administrative rules. Creates the Black Wall Street Fund as a special fund in the State treasury for specified purposes. Defines terms. Makes conforming changes.

Actions 

Date	Chamber	Action
10/30/2020	House	Filed with the Clerk by Rep. Thaddeus Jones
11/10/2020	House	First Reading
11/10/2020	House	Referred to Rules Committee
1/13/2021	House	Session Sine Die

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