90th General Assembly
Summary of HB2061
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House Sponsors:

Senate Sponsors:

Short description: 
DCCA-SMALL BUSINESS GRANTS                                                 

Synopsis of Bill as introduced:
        Amends the Civil Administrative Code of Illinois  and  the  State      
   Finance  Act  to  create  the Small Business Incubator Fund.  Provides      
   that the Director of Commerce and Community Affairs may make grants to      
   small business incubators dedicated to the successful  development  of      
   entrepreneurial  companies.  Provides that the grants shall not exceed      
   50% of the State income taxes paid in the previous  calendar  year  by      
   qualified  businesses  leasing  space  from  eligible  small  business      
   incubators.  Provides that an amount equal to 50% of these taxes shall      
   be  annually  appropriated  to  the  fund.  Establishes an application      
   process  for  grants  and  limitations  on  the  use  of  the  grants.      
   Effective immediately.                                                      
          STATE MANDATES FISCAL NOTE                                           
          HB2061 fails to create a State mandate.                              
          FISCAL NOTE (Dept. of Revenue)                                       
          The Dept. cannot estimate how many businesses qualify or the         
          amount of State income paid by such businesses, nor estimate         
          the amount of money that will be diverted from GRF to the Small      
          Business Incubator Fund annually.                                    
        SENATE AMENDMENT NO. 2.                                                
        Sets a limit on the amount of the grant given to a small business      
   incubator.  Provides that 5% of the amount appropriated into the Small      
   Business Incubator  Fund  shall  be  allotted  to  the  Department  of      
   Commerce  and  Community  Affairs to administer, oversee, and evaluate      
   the small business incubator grant process and outcome.  Provides that      
   the small business incubator grant process is repealed on December 31,      
   2002.  Provides  that  the  evaluation  of  the  grant  process  shall      
   recommend its continuation or its repeal and shall be submitted to the      
   Governor and the General Assembly before December 31, 2001.                 
Last action on Bill: TOTAL VETO STANDS

   Last action date: 97-10-30

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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