James F. Clayborne, Jr.
- Democratic
Primary
Amends the New Markets Development Program Act. Provides that, to be considered a "qualified equity investment" under the Act, 100% (currently, 85%) of the cash purchase price of the investment must be used by the issuer to make qualified low-income community investments in the State of Illinois. Requires qualified community development entities to submit an annual job creation report. Provides that the application for certification as a qualified community development entity must include the amount of qualified equity investment authority the applicant agrees to designate as a federal qualified equity investment under Section 45D of the Internal Revenue Code. Provides that no qualified active low-income community business that receives a qualified low-income community investment from a qualified community development entity that issues qualified equity investments under the Act may directly or indirectly (i) own or have the right to acquire an ownership interest in a qualified community development entity or member or affiliate of a qualified community development entity or (ii) loan to or invest in a qualified community development entity or member or affiliate of a qualified community development entity. Provides that the annual cap on credits under the Act is $50,000,000 (currently, $20,000,000). Effective immediately.
Public Act . . . . . . . . . 100-0408
Effective Date August 25, 2017
Governor Approved
Sent to the Governor
House Committee Amendment No. 4 Motion to Concur Be Approved for Consideration Assignments
House Committee Amendment No. 4 Motion to Concur Referred to Assignments
House Committee Amendment No. 4 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr.
Placed on Calendar Order of Concurrence House Amendment(s) 4 - May 31, 2017
Secretary's Desk - Concurrence House Amendment(s) 4
Added Alternate Co-Sponsor Rep. Carol Ammons
Added Alternate Co-Sponsor Rep. Sonya M. Harper
Added Alternate Co-Sponsor Rep. Camille Y. Lilly
Placed on Calendar Order of 3rd Reading - Short Debate
Third Reading - Short Debate - Passed 111-000-000
Passed Both Houses
Senate Concurs
House Committee Amendment No. 4 Senate Concurs 053-000-000
Held on Calendar Order of Second Reading - Short Debate
Second Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
House Committee Amendment No. 3 Tabled Pursuant to Rule 40
House Committee Amendment No. 2 Tabled Pursuant to Rule 40
House Committee Amendment No. 1 Tabled Pursuant to Rule 40
Do Pass as Amended / Short Debate Executive Committee; 011-000-000
House Committee Amendment No. 4 Adopted in Executive Committee; by Voice Vote
House Committee Amendment No. 4 Rules Refers to Executive Committee
House Committee Amendment No. 4 Filed with Clerk by Rep. Lou Lang
House Committee Amendment No. 4 Referred to Rules Committee
House Committee Amendment No. 2 Filed with Clerk by Rep. Lou Lang
House Committee Amendment No. 3 Filed with Clerk by Rep. Lou Lang
House Committee Amendment No. 2 Referred to Rules Committee
House Committee Amendment No. 3 Referred to Rules Committee
Added Alternate Chief Co-Sponsor Rep. William Davis
Final Action Deadline Extended-9(b) May 31, 2017
House Committee Amendment No. 1 Referred to Rules Committee
Committee Deadline Extended-Rule 9(b) May 26, 2017
House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang
Added Alternate Co-Sponsor Rep. Justin Slaughter
Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
Added Alternate Chief Co-Sponsor Rep. LaToya Greenwood
Added Alternate Co-Sponsor Rep. Jay Hoffman
Added Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
Added Alternate Chief Co-Sponsor Rep. Arthur Turner
Assigned to Executive Committee
Added Alternate Co-Sponsor Rep. Daniel V. Beiser
Chief House Sponsor Rep. Lou Lang
Referred to Rules Committee
First Reading
Arrived in House
Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
Third Reading - Passed; 051-001-000
Senate Floor Amendment No. 2 Adopted; Clayborne
Placed on Calendar Order of 3rd Reading April 4, 2017
Second Reading
Senate Floor Amendment No. 1 Be Approved for Consideration Assignments
Senate Floor Amendment No. 1 Referred to Assignments
Senate Floor Amendment No. 2 Recommend Do Adopt Commerce and Economic Development; 011-000-000
Senate Floor Amendment No. 2 Assignments Refers to Commerce and Economic Development
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Filed with Secretary by Sen. James F. Clayborne, Jr.
Added as Co-Sponsor Sen. Jil Tracy
Senate Floor Amendment No. 1 Assignments Refers to Commerce and Economic Development
Do Pass Commerce and Economic Development; 009-000-000
Added as Co-Sponsor Sen. Neil Anderson
Senate Floor Amendment No. 1 Referred to Assignments
Senate Floor Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr.
Placed on Calendar Order of 2nd Reading March 7, 2017
Added as Co-Sponsor Sen. Patricia Van Pelt
Added as Co-Sponsor Sen. Cristina Castro
Added as Co-Sponsor Sen. Toi W. Hutchinson
Added as Chief Co-Sponsor Sen. Linda Holmes
Assigned to Commerce and Economic Development
Added as Chief Co-Sponsor Sen. Antonio Muñoz
First Reading
Referred to Assignments
Filed with Secretary by Sen. James F. Clayborne, Jr.
| Bill Text Versions | Format |
|---|---|
| Enrolled | HTML |
| Engrossed | HTML |
| Introduced | HTML |
| Document | Format |
|---|---|
| Public Act | |
| House Amendment 004 | |
| House Amendment 003 | |
| House Amendment 002 | |
| House Amendment 001 | |
| Senate Amendment 002 | |
| Senate Amendment 001 |
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