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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB3176
Introduced 2/6/2004, by Ira I. Silverstein SYNOPSIS AS INTRODUCED:
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20 ILCS 700/2003 |
from Ch. 127, par. 3702-3 |
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Amends the Technology Advancement and Development Act. Removes a requirement that Challenge Grants be recommended for funding by the Illinois
Science and Technology Advisory Committee and the Illinois
Coalition. Also, removes authorization for the Departments of Commerce and Economic Opportunity and Natural Resources to cooperate with and provide support to the Illinois
Science and Technology Advisory Committee and the Illinois
Coalition. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB3176 |
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LRB093 18908 RCE 44643 b |
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| AN ACT concerning economic development.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Technology Advancement and Development Act |
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| is amended by changing Section 2003 as follows:
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| (20 ILCS 700/2003) (from Ch. 127, par. 3702-3)
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| Sec. 2003. Grant evaluation and amounts.
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| (a) The Department shall evaluate grant applications based |
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| upon
criteria provided under this Section. The Department shall |
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| not award any
Challenge Grant that is not recommended for |
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| funding by the Illinois
Science and Technology Advisory |
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| Committee and the Illinois
Coalition. In determining which |
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| grant
applicants shall be awarded a Challenge Grant, the |
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| Department shall conduct
an evaluation of prior compliance with |
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| loan or grant agreements for any
grant applicant previously |
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| funded by the Department. In addition, the
Department shall |
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| consider the following criteria in determining grant
awards: |
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| the relationship of a proposed advanced technology project to |
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| the
State's future economic growth; the qualifications and |
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| expertise of
consultants, firms or organizations undertaking |
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| the effort; the potential
for leveraging federal or private |
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| research dollars, or both, for the
initiative; the extent of
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| the capacity of the applicant or the applicant partnership or |
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| consortium to
finance the initiative; the potential for |
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| adapting, commercializing or
adopting the results of the |
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| applicant's project for the economic benefit of
the State; and |
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| the likelihood that the project has a potential for creating
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| new jobs or retaining current jobs in the State.
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| (b) The Director of the Department shall determine the |
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| level of the
grant award and shall determine the share of total |
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| directly attributable
costs of an advanced technology project |
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| which may be considered for funding
under this Article.
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