IL OPPORTUNITY FUND ACT Senate SponsorsSen. Emil Jones, Jr.-Vince Demuzio-Don Harmon, Carol Ronen-Todd Sieben, James T. Meeks, James A. DeLeo, Jacqueline Y. Collins, Susan Garrett, Edward D. Maloney, William R. Haine, James F. Clayborne, Jr., Mattie Hunter, M. Maggie Crotty, Terry Link, Lawrence M. Walsh, Jeffrey M. Schoenberg, Louis S. Viverito, Iris Y. Martinez, Antonio Munoz, John J. Cullerton, Donne E. Trotter, Patrick Welch, Dan Cronin, Kimberly A. Lightford, Ira I. Silverstein-Barack Obama, Debbie DeFrancesco Halvorson, Kathleen L. Wojcik, Rickey R. Hendon, Denny Jacobs, Martin A. Sandoval, Dave Sullivan and Kirk W. Dillard House Sponsors(Rep. Gary Hannig-Kurt M. Granberg-John A. Fritchey-Mary E. Flowers-Kathleen A. Ryg, Marlow H. Colvin, Karen A. Yarbrough, Harry Osterman, Kevin Joyce, Mike Boland, Jay C. Hoffman, Patrick Verschoore, Steve Davis, Michael K. Smith, William J. Grunloh and Lisa M. Dugan) 1/11/2005SenateSession Sine Die New Act30 ILCS 5/3-1from Ch. 15, par. 303-130 ILCS 105/5.625 newCreates the Illinois Opportunity Fund Act. Contains provisions intended to increase the availability and facilitate the delivery of institutional venture capital to emerging and expanding enterprises in the State of Illinois. Defines the role of the Department of Commerce and Economic Opportunity. Creates the Illinois Opportunity Fund and provides for the creation of the Illinois Capital Investment Corporation. Amends the State Finance Act to create the Illinois Opportunity Special Projects Fund. Amends the Illinois State Auditing Act to authorize audits of the Corporation and the Fund. Contains other provisions. Effective immediately.Fiscal Note (Department of Commerce and Economic Opportunity) The fiscal impact of Senate Bill 3219 on the Department of Commerce and Economic Opportunity is estimated to be up to $250,000 to obtain contractual expertise necessary, above and beyond that of existing staff, to establish the Illinois Capital Investment Corporation, recommend candidates for the board of directors, develop and approve investment objectives for the Illinois Opportunity Fund, and to allocate, issue, track, and manage contingent tax credits authorized by this legislation. 2/6/2004SenateFiled with Secretary by Sen. Vince Demuzio 2/6/2004SenateFirst Reading 2/6/2004SenateReferred to Rules 2/18/2004SenateAssigned to Executive 2/20/2004SenateAdded as Chief Co-Sponsor Sen. Don Harmon 2/20/2004SenateChief Sponsor Changed to Sen. Emil Jones, Jr. 2/20/2004SenateAdded as Chief Co-Sponsor Sen. Vince Demuzio 2/20/2004SenateChief Co-Sponsor Changed to Sen. Don Harmon 2/26/2004SenateDo Pass Executive; 012-000-000 2/26/2004SenatePlaced on Calendar Order of 2nd Reading March 2, 2004 3/2/2004SenateFiscal Note Requested by Sen. Peter J. Roskam 3/22/2004SenateFiscal Note Filed from the Illinois Department of Commerce and Economic Opportunity. 3/24/2004SenateSecond Reading 3/24/2004SenatePlaced on Calendar Order of 3rd Reading March 25, 2004 3/25/2004SenateAdded as Co-Sponsor Sen. Carol Ronen 3/25/2004SenateAdded as Chief Co-Sponsor Sen. Todd Sieben 3/25/2004SenateAdded as Co-Sponsor Sen. James T. Meeks 3/25/2004SenateAdded as Co-Sponsor Sen. James A. DeLeo 3/25/2004SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins 3/25/2004SenateAdded as Co-Sponsor Sen. Susan Garrett 3/25/2004SenateAdded as Co-Sponsor Sen. Edward D. Maloney 3/25/2004SenateAdded as Co-Sponsor Sen. William R. Haine 3/25/2004SenateAdded as Co-Sponsor Sen. James F. Clayborne, Jr. 3/25/2004SenateAdded as Co-Sponsor Sen. Mattie Hunter 3/25/2004SenateAdded as Co-Sponsor Sen. M. Maggie Crotty 3/25/2004SenateAdded as Co-Sponsor Sen. Terry Link 3/25/2004SenateAdded as Co-Sponsor Sen. Lawrence M. Walsh 3/25/2004SenateAdded as Co-Sponsor Sen. Jeffrey M. Schoenberg 3/25/2004SenateAdded as Co-Sponsor Sen. Louis S. Viverito 3/25/2004SenateAdded as Co-Sponsor Sen. Iris Y. Martinez 3/25/2004SenateAdded as Co-Sponsor Sen. Antonio Munoz 3/25/2004SenateAdded as Co-Sponsor Sen. John J. Cullerton 3/25/2004SenateAdded as Co-Sponsor Sen. Donne E. Trotter 3/25/2004SenateAdded as Co-Sponsor Sen. Patrick Welch 3/25/2004SenateAdded as Co-Sponsor Sen. Dan Cronin 3/25/2004SenateAdded as Co-Sponsor Sen. Kimberly A. Lightford 3/25/2004SenateAdded as Co-Sponsor Sen. Ira I. Silverstein 3/25/2004SenateAdded as Chief Co-Sponsor Sen. Barack Obama 3/25/2004SenateAdded as Co-Sponsor Sen. Debbie DeFrancesco Halvorson 3/26/2004SenateAdded as Co-Sponsor Sen. Kathleen L. Wojcik 3/26/2004SenateAdded as Co-Sponsor Sen. Rickey R. Hendon 3/26/2004SenateAdded as Co-Sponsor Sen. Denny Jacobs 3/26/2004SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 3/26/2004SenateAdded as Co-Sponsor Sen. Dave Sullivan 3/26/2004SenateAdded as Co-Sponsor Sen. Kirk W. Dillard 3/26/2004SenateThird Reading - Passed; 051-006-000 3/26/2004HouseArrived in House 3/26/2004HousePlaced on Calendar Order of First Reading 3/26/2004HouseChief House Sponsor Rep. Gary Hannig 3/26/2004HouseAdded Alternate Chief Co-Sponsor Rep. Kurt M. Granberg 3/29/2004HouseAdded Alternate Chief Co-Sponsor Rep. John A. Fritchey 3/29/2004HouseFirst Reading 3/29/2004HouseReferred to Rules Committee 3/30/2004HouseAdded Alternate Chief Co-Sponsor Rep. Mary E. Flowers 3/30/2004HouseAdded Alternate Chief Co-Sponsor Rep. Kathleen A. Ryg 3/31/2004HouseAdded Alternate Co-Sponsor Rep. Marlow H. Colvin 4/1/2004HouseAdded Alternate Co-Sponsor Rep. Karen A. Yarbrough 4/21/2004HouseAdded Alternate Co-Sponsor Rep. Harry Osterman 4/22/2004HouseAdded Alternate Co-Sponsor Rep. Kevin Joyce 4/22/2004HouseAdded Alternate Co-Sponsor Rep. Mike Boland 4/29/2004HouseAdded Alternate Co-Sponsor Rep. Jay C. Hoffman 4/29/2004HouseAdded Alternate Co-Sponsor Rep. Patrick Verschoore 4/29/2004HouseAdded Alternate Co-Sponsor Rep. Steve Davis 5/4/2004HouseAdded Alternate Co-Sponsor Rep. Michael K. Smith 5/11/2004HouseAdded Alternate Co-Sponsor Rep. William J. Grunloh 5/11/2004HouseAdded Alternate Co-Sponsor Rep. Lisa M. Dugan 1/11/2005SenateSession Sine Die