Illinois General Assembly - Full Text of HB2073
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Full Text of HB2073  97th General Assembly




HB2073 EnrolledLRB097 08827 PJG 48957 b

1    AN ACT concerning finance.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The State Finance Act is amended by adding
5Sections 5.786 and 6z-87 as follows:
6    (30 ILCS 105/5.786 new)
7    Sec. 5.786. The Small Business Development Grant Fund.
8    (30 ILCS 105/6z-87 new)
9    Sec. 6z-87. The Small Business Development Grant Fund.
10    (a) The Small Business Development Grant Fund is created as
11a special fund in the State treasury. Subject to appropriation,
12the Department of Commerce and Economic Opportunity shall make
13grants from the Fund:
14        (1) to small businesses in the State that commit to
15    using the grant moneys to create additional jobs;
16        (2) to small businesses from outside of the State that
17    commit to relocate within the State; and
18        (3) for individual projects that create 100 or fewer
19    additional jobs.
20    (b) For the purposes of this Section, "small business"
21means a legal entity, including a corporation, partnership, or
22sole proprietorship that:



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1        (1) is formed for the purpose of making a profit;
2        (2) is independently owned and operated; and
3        (3) has fewer than 100 employees.
4    (c) In making grants under this Section, the Department of
5Commerce and Economic Opportunity shall give priority to
6minority owned businesses, female owned businesses, and
7businesses owned by a person with a disability, as those terms
8are defined in the Business Enterprise for Minorities, Females,
9and Persons with Disabilities Act.
10    (d) In making grants under this Section, the Department of
11Commerce and Economic Opportunity shall also give priority to
12small businesses that pledge not to pay any of the grant moneys
13to an executive of the business in the form of compensation
14above the executive's base salary.
15    (e) In making grants under this Section, the Department of
16Commerce and Economic Opportunity shall also give priority to
17small businesses that have as their primary purpose the
18provision of energy derived from renewable energy technology.
19For the purposes of this Section, "renewable energy technology"
20means any technology that exclusively relies on an energy
21source that is naturally regenerated over a short time and
22derived (i) directly from the sun, (ii) indirectly from the
23sun, or (iii) from moving water or other natural movements and
24mechanisms of the environment. The term "renewable energy
25technology" includes sources that rely on energy derived
26directly from the sun, on wind, geothermal, hydroelectric,



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1wave, or tidal energy, or on biomass or biomass-based waste
2products, including landfill gas. The term "renewable energy
3technology" does not include energy resources derived from
4fossil fuels, waste products from fossil fuels, or waste
5products from inorganic sources.
6    Section 99. Effective date. This Act takes effect upon
7becoming law.