HB 5621

  • Illinois House Bill
  • 103rd Regular Session
  • Introduced in House Apr 19, 2024
  • Passed House Apr 18, 2024
  • Senate
  • Governor

Build Illinois Act-Loan Limit

Abstract

Amends the Build Illinois Act. Provides that the amount of small business loans made to minority persons, veterans, females, or persons with a disability under the Act shall not exceed $2,000,000 (rather than $400,000) or 50% of the business project costs unless the Director of Commerce and Economic Development determines that a waiver of these limits is required to meet the purposes of the Act. Provides that eligible projects under those provisions include refinancing current debt if the loan will refinance a loan previously made by a lender that is unaffiliated with the financial intermediary making the new loan and the proceeds of the refinance transaction are not used to finance an extraordinary dividend or other distribution. Senate Committee Amendment No. 1 Deletes reference to: 30 ILCS 750/9-4.3 Adds reference to: 30 ILCS 750/1-1 from Ch. 127, par. 2701-1 Replaces everything after the enacting clause. Amends the Build Illinois Act. Makes a technical change in a Section concerning the short title.

Bill Sponsors (12)

Votes


Actions


Jun 26, 2024

Senate

Pursuant to Senate Rule 3-9(b) / Referred to Assignments

May 25, 2024

Senate

Rule 2-10 Third Reading Deadline Established As May 26, 2024

May 24, 2024

Senate

Rule 2-10 Third Reading Deadline Established As May 25, 2024

May 17, 2024

Senate

Rule 2-10 Third Reading/Passage Deadline Established As May 24, 2024

May 16, 2024

Senate

Second Reading

Senate

Placed on Calendar Order of 3rd Reading May 17, 2024

May 15, 2024

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Senate

Placed on Calendar Order of 2nd Reading May 16, 2024

Senate

Do Pass as Amended Executive; 007-004-000

Senate

Senate Committee Amendment No. 1 Adopted

Senate

Senate Committee Amendment No. 1 Assignments Refers to Executive

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon

May 14, 2024

Senate

Alternate Chief Sponsor Changed to Sen. Don Harmon

May 10, 2024

Senate

Rule 2-10 Committee Deadline Established As May 17, 2024

May 01, 2024

Senate

Rule 2-10 Committee Deadline Established As May 10, 2024

Senate

Assigned to Executive

Apr 19, 2024

Senate

Arrive in Senate

Senate

Placed on Calendar Order of First Reading

Senate

Chief Senate Sponsor Sen. Celina Villanueva

Senate

First Reading

Senate

Referred to Assignments

Apr 18, 2024

House

Added Co-Sponsor Rep. Dagmara Avelar

House

Third Reading - Short Debate - Passed 104-000-000

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Chief Co-Sponsor Changed to Rep. Kam Buckner

House

Added Chief Co-Sponsor Rep. Kam Buckner

Apr 17, 2024

House

Second Reading - Short Debate

House

Held on Calendar Order of Second Reading - Short Debate

Apr 11, 2024

House

Added Co-Sponsor Rep. Janet Yang Rohr

House

Added Co-Sponsor Rep. Jennifer Sanalitro

House

Added Co-Sponsor Rep. Blaine Wilhour

House

Added Co-Sponsor Rep. Suzanne M. Ness

House

Added Chief Co-Sponsor Rep. Jay Hoffman

House

Added Chief Co-Sponsor Rep. Edgar Gonzalez, Jr.

Apr 08, 2024

House

Added Co-Sponsor Rep. Lilian Jiménez

House

Added Chief Co-Sponsor Rep. Anne Stava-Murray

Apr 04, 2024

House

Do Pass / Short Debate Small Business, Tech Innovation, and Entrepreneurship Committee; 012-000-000

House

Placed on Calendar 2nd Reading - Short Debate

Mar 12, 2024

House

Assigned to Small Business, Tech Innovation, and Entrepreneurship Committee

Feb 09, 2024

House

Filed with the Clerk by Rep. Carol Ammons

House

Referred to Rules Committee

House

First Reading

Bill Text

Bill Text Versions Format
Introduced HTML PDF
Engrossed HTML PDF
Senate Amendment 001 HTML PDF

Related Documents

Document Format
No related documents.

Sources

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