Illinois General Assembly - Bill Status for SB2946
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 Bill Status of SB2946  102nd General Assembly


Short Description:  TECH DEV ACCT-GRANT AUTHORITY

Senate Sponsors
Sen. Suzy Glowiak Hilton - Mattie Hunter - Linda Holmes - Iris Y. Martinez, Napoleon Harris, III, Christopher Belt, Antonio Muñoz, Laura M. Murphy, Michael E. Hastings, Jennifer Bertino-Tarrant and Adriane Johnson

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 265/10
30 ILCS 265/11
30 ILCS 265/20


Synopsis As Introduced
Amends the Technology Development Act. Removes a provision specifying that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 10% of the total investments in the fund. Provides that distributions from a TDA II-Recipient Fund, in an amount not to exceed the commitment amount and total distributions received, may be reinvested into a specified account without being counted against the 5% cap. Provides that specified moneys in the Technology Development Fund may be provided as grants to technology businesses in order to foster, accelerate, and scale technology innovation in Illinois. Modifies the term "technology business" to expand the meaning of technology oriented or emerging activity. Makes conforming changes. Effective immediately.

Actions 
DateChamber Action
  2/4/2020SenateFiled with Secretary by Sen. Suzy Glowiak Hilton
  2/4/2020SenateFirst Reading
  2/4/2020SenateReferred to Assignments
  2/11/2020SenateAssigned to Commerce and Economic Development
  2/19/2020SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
  2/19/2020SenateAdded as Co-Sponsor Sen. Napoleon Harris, III
  2/20/2020SenateDo Pass Commerce and Economic Development; 010-000-000
  2/20/2020SenatePlaced on Calendar Order of 2nd Reading February 25, 2020
  2/20/2020SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  2/25/2020SenateAdded as Co-Sponsor Sen. Christopher Belt
  2/26/2020SenateAdded as Co-Sponsor Sen. Antonio Muñoz
  2/27/2020SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  2/27/2020SenateAdded as Co-Sponsor Sen. Michael E. Hastings
  3/5/2020SenateAdded as Co-Sponsor Sen. Jennifer Bertino-Tarrant
  3/25/2020SenateRule 2-10 Third Reading Deadline Established As May 7, 2020
  4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/23/2020SenateRule 2-10 Third Reading Deadline Established As May 15, 2020
  4/30/2020SenateRule 2-10 Third Reading Deadline Established As May 22, 2020
  5/7/2020SenateRule 2-10 Third Reading Deadline Established As May 29, 2020
  5/15/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 31, 2020
  10/21/2020SenateAdded as Co-Sponsor Sen. Adriane Johnson
  12/17/2020SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
  1/13/2021SenateSession Sine Die

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