90th General Assembly
Summary of SB1238
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Senate Sponsors:
PARKER.

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.  Provides      
   that the  small  business  incubator  grant  process  is  repealed  on      
   December  31, 2003.  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, 2002.      
   Effective immediately.                                                      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

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


   END OF INQUIRY 



 Full Text  Bill Status