Illinois General Assembly - Bill Status for SB0107
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 Bill Status of SB0107  9th General Assembly

Short Description:  FINANCE-TECHNOLOGY ACCOUNT

Senate Sponsors
Sen. Dan Kotowski - Linda Holmes - Pamela J. Althoff - Michael Noland - Michael W. Frerichs, Dan Duffy, Matt Murphy, A. J. Wilhelmi and Kirk W. Dillard

House Sponsors
(Rep. Daniel Biss - Tom Cross - Elaine Nekritz - Chris Nybo - La Shawn K. Ford, Mike Bost, Michelle Mussman, Keith Farnham, Fred Crespo, Robyn Gabel, Lou Lang, Adam Brown, Maria Antonia Berrios, Robert Rita, André M. Thapedi, William Davis, Al Riley, Anthony DeLuca, Karen A. Yarbrough, Michael J. Zalewski, Elizabeth Hernandez, Susana A. Mendoza, Naomi D. Jakobsson, Arthur Turner, Brandon W. Phelps, Constance A. Howard, Ann Williams, Sara Feigenholtz, Linda Chapa LaVia, Jack D. Franks, Jehan A. Gordon, Edward J. Acevedo, Deborah Mell, John D'Amico, Luis Arroyo, William Cunningham, Kelly Burke, Jason Barickman, William D. Burns, Carol A. Sente, Karen May, Daniel J. Burke, Cynthia Soto, Richard Morthland, Patricia R. Bellock, Michael W. Tryon, David Harris, Donald L. Moffitt, Darlene J. Senger, Jim Durkin, Roger L. Eddy, Robert W. Pritchard, Jim Sacia, Sandy Cole, Sidney H. Mathias, David Reis, Michael P. McAuliffe, Sandra M. Pihos, Franco Coladipietro, Dennis M. Reboletti, John D. Cavaletto, Thomas Morrison, Jerry L. Mitchell, Jim Watson, Pam Roth, Michael G. Connelly, Chad Hays, Kelly M. Cassidy, Dan Reitz, Camille Y. Lilly, Thaddeus Jones, Daniel V. Beiser, Greg Harris, Marlow H. Colvin, Lisa M. Dugan, Derrick Smith, Esther Golar, Kenneth Dunkin, Mike Fortner, Mark H. Beaubien, Jr. and Kimberly du Buclet)

Last Action
DateChamber Action
  7/25/2011SenatePublic Act . . . . . . . . . 97-0197

Statutes Amended In Order of Appearance
30 ILCS 265/11 new


Synopsis As Introduced
Amends the Technology Development Act. Authorizes the State Treasurer to segregate up to 3% of the Treasurer's investment portfolio in the Technology Development Account IIa. Authorizes investments from the account to provide venture capital to help attract, assist, and retain quality technology businesses in Illinois. Provides that the Treasurer may solicit proposals from entities to manage and be the General Partner of Technology Development Account IIb, a separate fund consisting of investments from private sector investors that must invest, at the direction of the Treasurer, in tandem with TDA IIa. Sets restrictions and conditions. Effective immediately.

Senate Committee Amendment No. 1
Provides that the State Treasurer may segregate a portion of the Treasurer's portfolio, that at no time shall be greater than 2% (instead of 3%) of the portfolio, in the Technology Development Account IIa.

House Committee Amendment No. 1
Provides that any fund created by an Illinois venture capital firm in which the State Treasurer places money from the Technology Development Account IIa ("TDA II-Recipient Fund") shall invest at least twice the aggregate amount of investable capital that is received from the State Treasurer in Illinois companies during the life of the fund. Provides that a TDA II-Recipient Fund shall report certain information to the Treasurer on a quarterly basis. Provides that, if a TDA II-Recipient Fund fails to invest the minimum amount in Illinois companies 180 days after delivery of notice, the Treasurer may elect to terminate any further commitment to make capital contributions to that fund.

Actions 
DateChamber Action
  1/27/2011SenateFiled with Secretary by Sen. Dan Kotowski
  1/27/2011SenateFirst Reading
  1/27/2011SenateReferred to Assignments
  1/27/2011SenateAssigned to State Government and Veterans Affairs
  2/8/2011SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Dan Kotowski
  2/8/2011SenateSenate Committee Amendment No. 1 Referred to Assignments
  2/8/2011SenateSenate Committee Amendment No. 1 Assignments Refers to State Government and Veterans Affairs
  2/8/2011SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
  2/9/2011SenateSenate Committee Amendment No. 1 Adopted
  2/9/2011SenateDo Pass as Amended State Government and Veterans Affairs; 009-000-000
  2/9/2011SenatePlaced on Calendar Order of 2nd Reading February 10, 2011
  2/16/2011SenateAdded as Co-Sponsor Sen. Dan Duffy
  2/16/2011SenateAdded as Co-Sponsor Sen. Matt Murphy
  2/16/2011SenateSecond Reading
  2/16/2011SenatePlaced on Calendar Order of 3rd Reading February 17, 2011
  2/16/2011SenateAdded as Chief Co-Sponsor Sen. Pamela J. Althoff
  2/17/2011SenateAdded as Chief Co-Sponsor Sen. Michael Noland
  2/17/2011SenateAdded as Co-Sponsor Sen. A. J. Wilhelmi
  2/17/2011SenateAdded as Co-Sponsor Sen. Kirk W. Dillard
  2/17/2011SenateAdded as Co-Sponsor Sen. Michael W. Frerichs
  2/17/2011SenateThird Reading - Passed; 045-003-000
  2/17/2011HouseArrived in House
  2/17/2011HousePlaced on Calendar Order of First Reading
  2/17/2011HouseChief House Sponsor Rep. Chris Nybo
  2/17/2011HouseFirst Reading
  2/17/2011HouseReferred to Rules Committee
  2/23/2011HouseAdded Alternate Chief Co-Sponsor Rep. Daniel Biss
  2/23/2011HouseAdded Alternate Chief Co-Sponsor Rep. Tom Cross
  2/23/2011HouseAdded Alternate Chief Co-Sponsor Rep. Elaine Nekritz
  3/16/2011HouseAdded Alternate Co-Sponsor Rep. Mike Bost
  3/16/2011HouseAdded Alternate Co-Sponsor Rep. Michelle Mussman
  3/28/2011HouseAssigned to Executive Committee
  3/29/2011HouseAlternate Chief Sponsor Changed to Rep. Daniel Biss
  3/29/2011HouseAlternate Chief Co-Sponsor Removed Rep. Daniel Biss
  3/29/2011HouseAdded Alternate Chief Co-Sponsor Rep. Chris Nybo
  3/29/2011HouseAdded Alternate Co-Sponsor Rep. Keith Farnham
  3/30/2011HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
  3/30/2011HouseAdded Alternate Co-Sponsor Rep. Robyn Gabel
  3/31/2011HouseAdded Alternate Chief Co-Sponsor Rep. La Shawn K. Ford
  3/31/2011HouseAdded Alternate Co-Sponsor Rep. Lou Lang
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. Adam Brown
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. Maria Antonia Berrios
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. Robert Rita
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. André M. Thapedi
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. William Davis
  4/1/2011HouseAdded Alternate Co-Sponsor Rep. Al Riley
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Anthony DeLuca
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Karen A. Yarbrough
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Michael J. Zalewski
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Elizabeth Hernandez
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Susana A. Mendoza
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Naomi D. Jakobsson
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Arthur Turner
  4/5/2011HouseAdded Alternate Co-Sponsor Rep. Brandon W. Phelps
  4/6/2011HouseAdded Alternate Co-Sponsor Rep. Constance A. Howard
  4/6/2011HouseAdded Alternate Co-Sponsor Rep. Ann Williams
  4/6/2011HouseAdded Alternate Co-Sponsor Rep. Sara Feigenholtz
  4/6/2011HouseAdded Alternate Co-Sponsor Rep. Linda Chapa LaVia
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Jehan A. Gordon
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Edward J. Acevedo
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Deborah Mell
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. John D'Amico
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Luis Arroyo
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. William Cunningham
  4/7/2011HouseAdded Alternate Co-Sponsor Rep. Kelly Burke
  4/11/2011HouseAdded Alternate Co-Sponsor Rep. Jason Barickman
  4/11/2011HouseAdded Alternate Co-Sponsor Rep. William D. Burns
  4/11/2011HouseAdded Alternate Co-Sponsor Rep. Carol A. Sente
  4/11/2011HouseAdded Alternate Co-Sponsor Rep. Karen May
  4/12/2011HouseAdded Alternate Co-Sponsor Rep. Daniel J. Burke
  4/12/2011HouseAdded Alternate Co-Sponsor Rep. Cynthia Soto
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Richard Morthland
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Patricia R. Bellock
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Michael W. Tryon
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. David Harris
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Donald L. Moffitt
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Darlene J. Senger
  4/27/2011HouseAdded Alternate Co-Sponsor Rep. Jim Durkin
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Roger L. Eddy
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Robert W. Pritchard
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Jim Sacia
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Sandy Cole
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Sidney H. Mathias
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. David Reis
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Michael P. McAuliffe
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Sandra M. Pihos
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Franco Coladipietro
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Dennis M. Reboletti
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. John D. Cavaletto
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Thomas Morrison
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Jerry L. Mitchell
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Jim Watson
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Pam Roth
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Michael G. Connelly
  4/28/2011HouseAdded Alternate Co-Sponsor Rep. Chad Hays
  5/5/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Daniel Biss
  5/5/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  5/13/2011HouseCommittee Deadline Extended-Rule 9(b) May 20, 2011
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Kelly M. Cassidy
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Dan Reitz
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Camille Y. Lilly
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Thaddeus Jones
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Daniel V. Beiser
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Greg Harris
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Marlow H. Colvin
  5/19/2011HouseAdded Alternate Co-Sponsor Rep. Lisa M. Dugan
  5/20/2011HouseAdded Alternate Co-Sponsor Rep. Derrick Smith
  5/20/2011HouseAdded Alternate Co-Sponsor Rep. Esther Golar
  5/20/2011HouseAdded Alternate Co-Sponsor Rep. Kenneth Dunkin
  5/20/2011HouseAdded Alternate Co-Sponsor Rep. Mike Fortner
  5/20/2011HouseAdded Alternate Co-Sponsor Rep. Mark H. Beaubien, Jr.
  5/20/2011HouseFinal Action Deadline Extended-9(b) May 27, 2011
  5/23/2011HouseHouse Committee Amendment No. 1 Rules Refers to Executive Committee
  5/23/2011HouseAdded Alternate Co-Sponsor Rep. Kimberly du Buclet
  5/25/2011HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
  5/25/2011HouseDo Pass as Amended / Short Debate Executive Committee; 011-000-000
  5/25/2011HousePlaced on Calendar 2nd Reading - Short Debate
  5/26/2011HouseSecond Reading - Short Debate
  5/26/2011HouseHeld on Calendar Order of Second Reading - Short Debate
  5/27/2011HouseFinal Action Deadline Extended-9(b) May 31, 2011
  5/31/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/31/2011HouseThird Reading - Short Debate - Passed 115-000-000
  5/31/2011SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/31/2011SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 31, 2011
  5/31/2011SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Dan Kotowski
  5/31/2011SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/31/2011SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to State Government and Veterans Affairs
  5/31/2011SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt State Government and Veterans Affairs; 007-000-000
  5/31/2011SenateSponsor Removed Sen. Michael W. Frerichs
  5/31/2011SenateAdded as Chief Co-Sponsor Sen. Michael W. Frerichs
  5/31/2011SenateHouse Committee Amendment No. 1 Senate Concurs 058-000-000
  5/31/2011SenatePassed Both Houses
  6/29/2011SenateSent to the Governor
  7/25/2011SenateGovernor Approved
  7/25/2011SenateEffective Date July 25, 2011
  7/25/2011SenatePublic Act . . . . . . . . . 97-0197

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