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HB 2698 Illinois House · 100th Regular Session

SMALL BUSINESS DEVELOPMENT

Summary
Amends the Build Illinois Act. Provides that the Department of Commerce and Economic Opportunity may also make loans or equity investments to small businesses with moneys in the State Small Business Credit Initiative Fund (currently, the Department make only make such loans and equity investments with moneys in the Build Illinois Bond Fund, the Illinois Capital Revolving Fund, or the Illinois Equity Revolving Fund). Provides that the Department of Commerce and Economic Opportunity may make loans to small businesses of up to $2,000,000 (currently, $750,000) per project. Provides that moneys collected from the fees imposed under this Act connected with the Capital Fund shall be deposited into the Capital Fund. Provides that loans under the minority, veteran, female, and persons with a disability loan program shall not exceed $400,000 (currently, $100,000) without a waiver from the Director of Commerce and Economic Opportunity. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2017
Committee Review
May 2017
House Passage
May 2017
Senate Passage
May 2017
Signed into Law
Aug 2017
Introduced Apr 25, 2017 Signed Aug 25, 2017
Floor votes · Senate May 31, 2017 · House Apr 24, 2017

How they voted

47–0
Passed · 4 other
Total votes 51
May 31, 2017
D Democratic31
28 Yea 3
90% Yea
R Republican20
19 Yea 1
95% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
52
Key actions
8
Committee
8
Amendments
2
Aug 25, 2017
Signed into law
Governor Approved
lower
May 31, 2017
Lower · Passed
Passed Both Houses
lower
May 31, 2017
Senate · Passed
Senate Vote: pass (47-0-4)
senate
May 11, 2017
Upper · Passed
Do Pass Commerce and Economic Development; 007-000-000
upper
May 5, 2017
Committee
Assigned to Commerce and Economic Development
upper
May 2, 2017
Committee
Referred to Assignments
upper
Apr 25, 2017
Introduced
Arrive in Senate
upper
Apr 24, 2017
House · Passed
House Vote: pass (100-1-4)
house
Mar 29, 2017
Lower · Passed
Do Pass as Amended / Short Debate Executive Committee; 011-000-000
lower
Mar 29, 2017
Lower · Passed
House Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
lower
Mar 13, 2017
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Executive Committee
lower
Mar 10, 2017
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Mar 10, 2017
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Arthur Turner
lower
Feb 22, 2017
Committee
Assigned to Executive Committee
lower
Feb 8, 2017
Committee
Referred to Rules Committee
lower
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.