Bill Status of HB3394 9th General Assembly
Short Description: IL EMERGING TECHNOLOGY ACT
Rep. Darlene J. Senger - Dwight Kay - Mike Fortner
| 12/3/2014||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Illinois Emerging Technology Act. Provides for the creation of the Emerging Technology Advisory Panel. Provides that the Emerging Technology Advisory Panel shall consist of 9 members. Sets forth the appointment, terms, and duties of the members. Provides that the Department of Commerce and Economic Opportunity, with the assistance of the Emerging Technology Advisory Panel, shall establish the Illinois Emerging Technology Program to make grants, loans, and equity investments from the Illinois Emerging Technology Fund to entrepreneurs involved with emerging technologies. Amends the Deposit of State Moneys Act. Requires that the State Comptroller direct and the State Treasurer transfer from the General Revenue Fund to the Illinois Emerging Technology Fund an amount no less than $75,000,000 and no more than $100,000,000. Amends the State Finance Act to create the Illinois Emerging Technology Fund as a special fund in the State treasury.