HB 5824

Abstract

Creates the Higher Education Supplier Diversity Act. Provides that every private institution of higher education approved by the Illinois Student Assistance Commission for the purposes of the Monetary Award Program shall submit a report on its voluntary supplier diversity program to the Department of Commerce and Economic Opportunity. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Office of Diversity and Economic Inclusion within the Department of Commerce and Economic Opportunity to assist diverse businesses through targeted programs, matchmaking workshops, resources, and outreach and promotional activities. Amends the Department of Central Management Services Law of the Civil Administrative Code of Illinois. Repeals a provision concerning the higher education supplier diversity report. Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that a taxpayer shall not receive a credit under the Act unless the taxpayer submits a required supplier diversity report. Amends the Illinois Insurance Code. Provides for insurance company supplier diversity reports. Defines terms. Makes other changes. Effective immediately.