Bill Status of SB 3205   100th General Assembly

Short Description:  TREASURER-TECH DEVELOPMENT

Senate Sponsors
Sen. Don Harmon-Patricia Van Pelt-Iris Y. Martinez

House Sponsors
(Rep. John Connor-David McSweeney-Anna Moeller-Natalie A. Manley-Jonathan Carroll, Fred Crespo, Laura Fine, Stephanie A. Kifowit, Peter Breen and David S. Olsen)


Last Action  View All Actions

DateChamber Action
  8/24/2018SenatePublic Act . . . . . . . . . 100-1081

Statutes Amended In Order of Appearance
30 ILCS 265/5
30 ILCS 265/11

Synopsis As Introduced
Amends the Technology Development Act. Provides that the State Treasurer may segregate a portion of the Treasurer's State investment portfolio that at no time shall be greater than 5% (rather than 2%) of the portfolio, in the Technology Development Account IIa. Provides further requirements regarding investment in Technology Development Account IIa. Provides that the Treasurer may solicit proposals from entities to manage and be the general partner of a separate fund consisting of investments from private sector investors that must invest, at the direction of the general partner (rather than Treasurer), in tandem with Technology Development Account IIa in a pro-rata portion. Provides that moneys in Technology Development Account IIa may be invested by the State Treasurer to provide venture capital to technology businesses, including co-investments. Provides that in no case shall more than 15% (rather than 10%) of the capital in the Technology Development Account IIa be invested in firms based outside of Illinois. Requires any Technology Development Account II-Recipient Fund to report the specified additional information to the Treasurer on a quarterly or annual basis as determined by the Treasurer. Removes language prohibiting the State Treasurer from investing more than one-third of Technology Development Account II in any given calendar year. Modifies the purpose of the Act. Makes conforming and technical changes. Defines terms.

Senate Committee Amendment No. 1
Provides that the State Treasurer shall (rather than may) segregate a portion of the Treasurer's State investment portfolio, that at no time shall be greater than 5% of the portfolio, in the Technology Development Account IIa (TDA IIa). Provides that the aggregate investment in TDA IIa and the aggregate commitment of investment capital in a TDA II-Recipient Fund shall at no time be greater than 5% of the State's investment portfolio (removes language specifying at the time of deposit). Specifies that all or a portion of the moneys in TDA IIa shall (rather than may) be invested by the State Treasurer to provide venture capital to technology businesses, including co-investments, seeking to locate, expand, or remain in Illinois by placing money with Illinois venture capital firms for investment by the venture capital firms in technology businesses. Provides that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 15% of the total TDA IIa account balance (currently, shall not exceed 15% of the total investments in the fund). Adds an immediate effective date.

Actions 
DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Don Harmon
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAssigned to Commerce and Economic Development
  4/6/2018SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  4/6/2018SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/10/2018SenateSenate Committee Amendment No. 1 Assignments Refers to Commerce and Economic Development
  4/11/2018SenateAdded as Chief Co-Sponsor Sen. Patricia Van Pelt
  4/12/2018SenateSenate Committee Amendment No. 1 Adopted
  4/12/2018SenateDo Pass as Amended Commerce and Economic Development; 010-000-000
  4/12/2018SenatePlaced on Calendar Order of 2nd Reading April 17, 2018
  4/18/2018SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  4/23/2018SenateSecond Reading
  4/23/2018SenatePlaced on Calendar Order of 3rd Reading April 24, 2018
  4/26/2018SenateThird Reading - Passed; 054-000-000
  4/26/2018HouseArrived in House
  4/26/2018HouseChief House Sponsor Rep. John Connor
  4/26/2018HouseFirst Reading
  4/26/2018HouseReferred to Rules Committee
  4/26/2018HouseAdded Alternate Chief Co-Sponsor Rep. David McSweeney
  4/26/2018HouseAdded Alternate Chief Co-Sponsor Rep. Anna Moeller
  4/26/2018HouseAdded Alternate Chief Co-Sponsor Rep. Natalie A. Manley
  4/26/2018HouseAdded Alternate Chief Co-Sponsor Rep. Jonathan Carroll
  4/26/2018HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
  4/27/2018HouseAdded Alternate Co-Sponsor Rep. Laura Fine
  4/27/2018HouseAdded Alternate Co-Sponsor Rep. Stephanie A. Kifowit
  5/3/2018HouseAdded Alternate Co-Sponsor Rep. Peter Breen
  5/7/2018HouseAssigned to State Government Administration Committee
  5/16/2018HouseDo Pass / Short Debate State Government Administration Committee; 007-000-000
  5/18/2018HousePlaced on Calendar 2nd Reading - Short Debate
  5/21/2018HouseSecond Reading - Short Debate
  5/21/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/25/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018
  5/28/2018HouseAdded Alternate Co-Sponsor Rep. David S. Olsen
  5/28/2018HouseThird Reading - Short Debate - Passed 113-000-000
  5/28/2018SenatePassed Both Houses
  6/26/2018SenateSent to the Governor
  8/24/2018SenateGovernor Approved
  8/24/2018SenateEffective Date August 24, 2018
  8/24/2018SenatePublic Act . . . . . . . . . 100-1081

Back To Top