Illinois General Assembly - Bill Status for SB1308

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Bill Status of SB1308 102nd General Assembly

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Short Description: U OF I-INTELLECTUAL PROPERTY

Senate Sponsors
Sen. Chapin Rose

Last Action

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

Statutes Amended In Order of Appearance

110 ILCS 305/105 new

Synopsis As Introduced
Amends the University of Illinois Act. Provides that notwithstanding any other provisions of law, the University may form one or more limited liability companies to own any current or future intellectual property attributable to the University pursuant to the Limited Liability Company Act. Requires the University to maintain a 51% ownership interest in any limited liability company formed. Allows the intellectual property to be held as a tenancy in common with all entities that hold an ownership interest in the company. Requires the payment of distributions.

Actions

Date	Chamber	Action
2/7/2019	Senate	Filed with Secretary by Sen. Chapin Rose
2/7/2019	Senate	First Reading
2/7/2019	Senate	Referred to Assignments
3/12/2019	Senate	Assigned to Higher Education
3/20/2019	Senate	Postponed - Higher Education
3/22/2019	Senate	Rule 3-9(a) / Re-referred to Assignments
1/13/2021	Senate	Session Sine Die

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