Bill Status of SB 323   94th General Assembly

Short Description:  DCEO-RESERVIST BUSINESS LOAN

Senate Sponsors
Sen. Arthur J. Wilhelmi, Martin A. Sandoval, Gary G. Dahl and Mike Jacobs

House Sponsors
(Rep. Naomi D. Jakobsson-Linda Chapa LaVia-Mike Boland-Jack McGuire-Patrick J Verschoore, Kathleen A. Ryg, Jack D. Franks, John E. Bradley, Robert F. Flider, Daniel V. Beiser and Wyvetter H. Younge)


Last Action  View All Actions

DateChamber Action
  8/8/2005SenatePublic Act . . . . . . . . . 94-0485

Statutes Amended In Order of Appearance
20 ILCS 605/605-413 new

Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Military Reservist Business Assistance Loan Program to make loans to small businesses (i) that lose an owner, a manager, or a key employee due to a period of military conflict and (ii) that will experience economic injury as a result of the loss of that owner, manager, or key employee. Authorizes the Department to accept grants, loans, or appropriations and associated contracts and agreements for purposes similar to this program. Limits the total amount of any loan awarded under the program to $150,000. Requires the Department to adopt rules concerning the administration of the program and to create a competitive application procedure. Effective immediately.

Senate Committee Amendment No. 1
Defines "small business" to mean a business with 25 (now, 50) or fewer employees. Requires the Department and the borrower to arrange for the repayment of the loan within 30 days after the owner, manager, or key employee returns to non-active duty status or 3 years after the date on which the loan was awarded, whichever is sooner.

Senate Floor Amendment No. 2
Deletes reference to:
20 ILCS 605/605-413 new
Adds reference to:
30 ILCS 750/9-4.7 new

Replaces everything after the enacting clause. Amends the Build Illinois Act. Creates the Military Reservist Business Assistance Loan Program. Authorizes the Department of Commerce and Economic Opportunity to make loans to small businesses (i) that lose an owner or a key employee due to a period of military conflict and (ii) that will experience substantial economic injury as a result of the loss of that owner or key employee. Authorizes the Department to accept grants, loans, or appropriations and enter into contracts and agreements for purposes of this program. Limits the total amount of any loan awarded under the program to $150,000. Effective immediately.

Actions 
DateChamber Action
  2/15/2005SenateFiled with Secretary by Sen. Arthur J. Wilhelmi
  2/15/2005SenateFirst Reading
  2/15/2005SenateReferred to Rules
  2/17/2005SenateAssigned to Commerce & Economic Development
  2/24/2005SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Arthur J. Wilhelmi
  2/24/2005SenateSenate Committee Amendment No. 1 Referred to Rules
  3/1/2005SenateSenate Committee Amendment No. 1 Rules Refers to Commerce & Economic Development
  3/3/2005SenatePostponed - Commerce & Economic Development
  3/9/2005SenatePostponed - Commerce & Economic Development
  3/17/2005SenateSenate Committee Amendment No. 1 Adopted
  3/17/2005SenateDo Pass as Amended Commerce & Economic Development; 010-000-000
  3/17/2005SenatePlaced on Calendar Order of 2nd Reading April 6, 2005
  4/6/2005SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Arthur J. Wilhelmi
  4/6/2005SenateSenate Floor Amendment No. 2 Referred to Rules
  4/7/2005SenateSenate Floor Amendment No. 2 Rules Refers to Commerce & Economic Development
  4/8/2005SenateSenate Floor Amendment No. 2 Recommend Do Adopt Commerce & Economic Development; 006-000-000
  4/8/2005SenateAdded as Co-Sponsor Sen. Martin A. Sandoval
  4/11/2005SenateSecond Reading
  4/11/2005SenateSenate Floor Amendment No. 2 Adopted; Wilhelmi
  4/11/2005SenatePlaced on Calendar Order of 3rd Reading April 12, 2005
  4/12/2005SenateAdded as Co-Sponsor Sen. Gary G. Dahl
  4/14/2005SenateAdded as Co-Sponsor Sen. Mike Jacobs
  4/14/2005SenateThird Reading - Passed; 056-000-000
  4/14/2005HouseArrived in House
  4/14/2005HousePlaced on Calendar Order of First Reading
  4/14/2005HouseChief House Sponsor Rep. Naomi D. Jakobsson
  4/14/2005HouseFirst Reading
  4/14/2005HouseReferred to Rules Committee
  4/27/2005HouseAssigned to International Trade & Commerce Committee
  5/4/2005HouseDo Pass / Short Debate International Trade & Commerce Committee; 015-000-000
  5/5/2005HousePlaced on Calendar 2nd Reading - Short Debate
  5/10/2005HouseSecond Reading - Short Debate
  5/10/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/17/2005HouseAdded Alternate Chief Co-Sponsor Rep. Linda Chapa LaVia
  5/17/2005HouseThird Reading - Short Debate - Passed 105-000-011
  5/17/2005SenatePassed Both Houses
  5/17/2005HouseAdded Alternate Chief Co-Sponsor Rep. Mike Boland
  5/17/2005HouseAdded Alternate Chief Co-Sponsor Rep. Jack McGuire
  5/17/2005HouseAdded Alternate Chief Co-Sponsor Rep. Patrick J Verschoore
  5/17/2005HouseAdded Alternate Co-Sponsor Rep. Kathleen A. Ryg
  5/17/2005HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks
  5/18/2005HouseAdded Alternate Co-Sponsor Rep. John E. Bradley
  5/18/2005HouseAdded Alternate Co-Sponsor Rep. Robert F. Flider
  5/18/2005HouseAdded Alternate Co-Sponsor Rep. Daniel V. Beiser
  5/18/2005HouseAdded Alternate Co-Sponsor Rep. Wyvetter H. Younge
  6/15/2005SenateSent to the Governor
  8/8/2005SenateGovernor Approved
  8/8/2005SenateEffective Date August 8, 2005
  8/8/2005SenatePublic Act . . . . . . . . . 94-0485

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