102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3337

 

Introduced 2/22/2021, by Rep. Jeff Keicher

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 605/605-1055 new

    Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Illinois Incubator and Collaborative Workspace Initiative Program to be implemented and administered by the Department of Commerce and Economic Opportunity. Provides that the Program shall support entrepreneurs by providing rent support grants and aiding collaborative workspaces in the acquisition of new tenants. Specifies grant requirements under the Program. Provides eligibility requirements for collaborative workspaces and tenants under the Program. Provides for the adoption of rules.


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A BILL FOR

 

HB3337LRB102 14990 RJF 20345 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Department of Commerce and Economic
5Opportunity Law of the Civil Administrative Code of Illinois
6is amended by adding Section 605-1055 as follows:
 
7    (20 ILCS 605/605-1055 new)
8    Sec. 605-1055. Illinois Incubator and Collaborative
9Workspace Initiative Program.
10    (a) There is hereby created the Illinois Incubator and
11Collaborative Workspace Initiative Program to be implemented
12and administered by the Department of Commerce and Economic
13Opportunity. The Program shall support entrepreneurs by
14providing rent support grants and aiding collaborative
15workspaces in the acquisition of new tenants.
16    (b) Subject to appropriation, grants under the Program
17shall support rent of early stage technology and life science
18companies in Illinois collaborative workspaces. Grants shall
19cover rent payments for 2, 4, or 6 month increments. A
20collaborative workspace must match the grant to the tenant
21company on a 1:2 ratio basis. The tenant company must commit to
22continuing to work from the collaborative workspace, including
23paying rent, for a period of no less than the Program and the

 

 

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1collaborative workspaces combined months of grant support.
2Funding for grants under the Program may be drawn from federal
3funds received by the State for purposes related to the
4COVID-19 public health emergency.
5    (c) To qualify as an approved incubator and collaborative
6workspace under the Program, a collaborative workspace must
7meet the following criteria:
8        (1) be a located in Illinois;
9        (2) have a minimum of 5 unique paying tenants over the
10    last 2 years;
11        (3) have an operating cost;
12        (4) offer at least one type of work space, including
13    private office space, hot-desks, or dedicated desks;
14        (5) commit to hosting at least 10 innovation ecosystem
15    building events in a year, including, but not limited to,
16    meet-ups, speaker series, and office hours for lawyers,
17    accountants, consultants, and investors;
18        (6) certify that the workspace charges rent to tenants
19    and that the rent that would be charged to the startup and
20    supported by the Program is market-rate;
21        (7) commit to matching the Program's grant to the
22    tenant company on a 1:2 ratio basis; and
23        (8) meet any applicable certification requirements
24    established under Illinois law or as may be required by
25    the Department.
26    (d) When a collaborative workspace is approved for

 

 

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1participation in the Program under subsection (c), it shall
2then be eligible to apply for a grant under the Program. As
3prerequisite to receiving a grant under the Program, a
4collaborative workspace must identify at least one tenant
5company it would like to offer support to for purposes of the
6Program.
7    (e) To qualify as an approved incubator and collaborative
8workspace tenant under the Program, a prospective tenant must
9meet the following criteria:
10        (1) be registered to do business in Illinois;
11        (2) provide a 2-page executive summary of their
12    business;
13        (3) certify that it: (i) is a technology and life
14    sciences company; (ii) is applying within 3 years after
15    its date of formation; (iii) has fewer than 10 employees;
16    (iv) has less than $1,000,000 in trailing 12-months gross
17    sales from date of application submission; (v) has at
18    least one full-time Illinois employee that will be working
19    in the facility; and (vi) has not previously utilized
20    another collaborative workspace in Illinois; and
21        (4) commit to working at the facility for the duration
22    of the Program and the collaborative workspace's combined
23    months of grant support.
24    (f) The Department shall adopt all rules necessary for the
25implementation and administration of the Program established
26under this Section.