Bill Status of HB 1960   102nd General Assembly

Short Description:  BLACK WALL STREET PROGRAM

House Sponsors
Rep. Thaddeus Jones, Nicholas K. Smith, Debbie Meyers-Martin and Carol Ammons

Senate Sponsors
(Sen. Napoleon Harris, III-Doris Turner-Jacqueline Y. Collins-John Connor, Patricia Van Pelt-Elgie R. Sims, Jr., Adriane Johnson and Christopher Belt)


Last Action  View All Actions

DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.935 new

Synopsis As Introduced
Creates the Black Wall Street Program Act. Requires the Department of Commerce and Economic Opportunity to create and administer the Black Wall Street Program to provide loans and financial assistance to designated communities for the creation of Black Wall Street Business Districts. Specifies further requirements concerning Program eligibility and the disbursement of loan funds under the Program. Requires each municipality receiving a loan under the Program to establish a municipal investment program by which loan funds are dispersed to qualified African American business entities and persons for the purpose of establishing Black Wall Street Business Districts. Allows for the use of loan funds to invest in, issue, or sell bonds for the purpose of the construction of Black Wall Street Business Districts and all related matters. Requires the Department to compile and make available to the public a database of qualified African American contractors and engineers. Requires the Department to create and administer a Black Wall Street Investment Hub for the purposes of providing specified assistance to African American business entities and persons in establishing Black Wall Street businesses. Provides for the adoption of administrative rules. Creates the Black Wall Street Fund as a special fund in the State treasury for specified purposes. Defines terms. Makes conforming changes.

Actions 
DateChamber Action
  2/16/2021HouseFiled with the Clerk by Rep. Thaddeus Jones
  2/17/2021HouseFirst Reading
  2/17/2021HouseReferred to Rules Committee
  2/24/2021HouseAdded Co-Sponsor Rep. Nicholas K. Smith
  3/9/2021HouseAssigned to Economic Opportunity & Equity Committee
  3/17/2021HouseAdded Co-Sponsor Rep. Debbie Meyers-Martin
  3/17/2021HouseDo Pass / Consent Calendar Economic Opportunity & Equity Committee; 008-000-000
  3/18/2021HousePlaced on Calendar 2nd Reading - Consent Calendar
  4/8/2021HouseAdded Co-Sponsor Rep. Carol Ammons
  4/14/2021HouseSecond Reading - Consent Calendar
  4/14/2021HouseHeld on Calendar Order of Second Reading - Consent Calendar
  4/14/2021HousePlaced on Calendar Order of 3rd Reading - Consent Calendar
  4/16/2021HouseThird Reading - Consent Calendar - First Day
  4/21/2021HouseThird Reading - Consent Calendar - Passed 117-000-000
  4/21/2021SenateArrive in Senate
  4/21/2021SenatePlaced on Calendar Order of First Reading April 22, 2021
  4/29/2021SenateChief Senate Sponsor Sen. Napoleon Harris, III
  4/29/2021SenateFirst Reading
  4/29/2021SenateReferred to Assignments
  5/4/2021SenateAssigned to Commerce
  5/4/2021SenateAdded as Alternate Chief Co-Sponsor Sen. Doris Turner
  5/7/2021SenateAdded as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins
  5/10/2021SenateRe-referred to Assignments
  5/10/2021SenateRe-assigned to Executive
  5/11/2021SenateAdded as Alternate Chief Co-Sponsor Sen. John Connor
  5/14/2021SenateAdded as Alternate Co-Sponsor Sen. Elgie R. Sims, Jr.
  5/19/2021SenateDo Pass Executive; 013-000-000
  5/19/2021SenatePlaced on Calendar Order of 2nd Reading May 20, 2021
  5/19/2021SenateAdded as Alternate Co-Sponsor Sen. Patricia Van Pelt
  5/20/2021SenateAdded as Alternate Chief Co-Sponsor Sen. Elgie R. Sims, Jr.
  5/20/2021SenateSecond Reading
  5/20/2021SenatePlaced on Calendar Order of 3rd Reading May 21, 2021
  5/21/2021SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
  5/21/2021SenateSenate Floor Amendment No. 1 Referred to Assignments
  5/21/2021SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Napoleon Harris, III
  5/21/2021SenateSenate Floor Amendment No. 2 Referred to Assignments
  5/25/2021SenateSenate Floor Amendment No. 1 Pursuant to Senate Rule 3-8 (b-1) this amendment will remain in the Committee on Assignments.
  5/25/2021SenateSenate Floor Amendment No. 2 Pursuant to Senate Rule 3-8 (b-1) this amendment will remain in the Committee on Assignments.
  5/30/2021SenateAdded as Alternate Co-Sponsor Sen. Adriane Johnson
  5/30/2021SenateAdded as Alternate Co-Sponsor Sen. Christopher Belt
  5/31/2021SenateRule 2-10 Third Reading Deadline Established As June 15, 2021
  6/15/2021SenateRule 3-9(a) / Re-referred to Assignments
  1/10/2023HouseSession Sine Die

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