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1 | AN ACT concerning finances.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 1. Short title. This Act may be cited as the | ||||||
5 | Emerging Technology Industries Grant Act. | ||||||
6 | Section 5. Purpose. It is the purpose of this Act to | ||||||
7 | develop and diversify the economy of the State of Illinois by: | ||||||
8 | (1) expediting the innovation and commercialization of | ||||||
9 | research; | ||||||
10 | (2) attracting, creating, or expanding private-sector | ||||||
11 | entities that will promote a substantial increase in | ||||||
12 | high-quality jobs; and | ||||||
13 | (3) increasing higher education applied technology | ||||||
14 | research capabilities. | ||||||
15 | Section 10. Definitions. As used in this Act: | ||||||
16 | "Department" means the Department of Commerce and Economic | ||||||
17 | Opportunity. | ||||||
18 | "Emerging technology enterprise" means a business concern | ||||||
19 | that is primarily engaged in an emerging technology industry. | ||||||
20 | "Emerging technology industry" includes, without | ||||||
21 | limitation, any industry related to: | ||||||
22 | (1) semiconductors;
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1 | (2) computer and software technology; | ||||||
2 | (3) energy; | ||||||
3 | (4) manufactured energy systems; | ||||||
4 | (5) micro-electromechanical systems; | ||||||
5 | (6) nanotechnology; | ||||||
6 | (7) biotechnology; | ||||||
7 | (8) medicine; | ||||||
8 | (9) life sciences;
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9 | (10) petroleum; | ||||||
10 | (11) aerospace;
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11 | (12) defense; and
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12 | (13) any other pursuit that is determined by the | ||||||
13 | Department to be an emerging technology industry.
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14 | "Fund" means the Emerging Technology Grant Fund | ||||||
15 | established under Section 20 of this Act. | ||||||
16 | Section 15. Eligibility. An emerging-technology enterprise | ||||||
17 | is eligible to receive a grant under this Act if the activity | ||||||
18 | to be funded:
(i) will result in the creation of new jobs in | ||||||
19 | this State; and
(ii) has the potential to result in the | ||||||
20 | advancement of a medicine or science. | ||||||
21 | Section 20. The Emerging Technology Grant Fund. The | ||||||
22 | Emerging Technology Grant Fund is created as a special fund in | ||||||
23 | the State treasury. From appropriations to the Department from | ||||||
24 | the Fund, the Department shall make grants to |
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1 | emerging-technology enterprises in the State as set forth under | ||||||
2 | this Act. Moneys received for the purposes of this Section, | ||||||
3 | including, without limitation, appropriations, repayments of | ||||||
4 | grant moneys, and gifts, grants, and awards from any public or | ||||||
5 | private entity, must be deposited into the Fund. Any interest | ||||||
6 | earnings that are attributable to moneys in the Fund must be | ||||||
7 | deposited into the Fund. | ||||||
8 | Section 25. Grant contracts. | ||||||
9 | (a) Before awarding a grant under this Act, the Department | ||||||
10 | shall enter into a written contract with the | ||||||
11 | emerging-technology enterprise to be awarded the grant money. | ||||||
12 | In the contract, the emerging-technology enterprise shall | ||||||
13 | guarantee that it will perform the actions expected to be | ||||||
14 | performed. The contract may specify that: | ||||||
15 | (1) If all or any portion of the amount of the grant is | ||||||
16 | used to build a capital improvement: | ||||||
17 | (A) the State retains a lien or other interest in | ||||||
18 | the capital improvement in proportion to the | ||||||
19 | percentage of the grant amount used to pay for the | ||||||
20 | capital improvements; and
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21 | (B) the recipient of the grant shall, if the | ||||||
22 | capital improvement is sold, (i) repay to the State the | ||||||
23 | grant money used to pay for the capital improvement, | ||||||
24 | with the interest at the rate and according to the | ||||||
25 | other terms provided by the agreement, and
(ii) share |
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1 | with the State a proportionate amount of any profit | ||||||
2 | realized from the sale; and | ||||||
3 | (2) If, as of the date certain provided in the | ||||||
4 | contract, the grant recipient has not used grant money | ||||||
5 | awarded under this Act for the purposes for which the grant | ||||||
6 | was intended, then the recipient shall repay that amount | ||||||
7 | and any related interest applicable under the agreement to | ||||||
8 | the State at the agreed rate and on the agreed terms. | ||||||
9 | (b) If an emerging-technology enterprise fails to perform | ||||||
10 | an action guaranteed by contract before a time specified by | ||||||
11 | contract, then the enterprise shall return all moneys received | ||||||
12 | from the Fund. | ||||||
13 | Section 30. Funding priority. In awarding money from the | ||||||
14 | Fund under this Act, priority shall be given to proposals that: | ||||||
15 | (1) involve emerging scientific or technology fields | ||||||
16 | that have a reasonable probability of enhancing the State's | ||||||
17 | national and global economic competitiveness; | ||||||
18 | (2) may result in a medical or scientific advancement;
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19 | (3) are collaborative between any combination of | ||||||
20 | private or nonprofit entities and public or private | ||||||
21 | agencies or institutions in the State;
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22 | (4) are matched with other available funds, including | ||||||
23 | funds from the private or nonprofit entity or institution | ||||||
24 | of higher education collaborating on the project; or
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25 | (5) have an economic development benefit to the State.
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1 | Section 35. Research Grant Matching. Amounts allocated | ||||||
2 | from the Fund for use as provided by this Act must be reserved | ||||||
3 | to match funding from research sponsors other than this State, | ||||||
4 | including federal research sponsors. The Department shall | ||||||
5 | determine proposals eligible for funding under this Act.
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6 | Section 40. Documentation of benefits.
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7 | (a) An emerging-technology enterprise that receives a | ||||||
8 | grant under this Act must document specific benefits that the | ||||||
9 | State may expect to gain as a result of the grant award. This | ||||||
10 | documentation must be completed and provided to the Department | ||||||
11 | before the emerging-technology enterprise may enter into | ||||||
12 | contract to receive funding under Section 25. | ||||||
13 | (b) The Department may terminate funding to an | ||||||
14 | emerging-technology enterprise if the enterprise fails to | ||||||
15 | realize a benefit specified in the contract, as determined by a | ||||||
16 | periodic review conducted by the Department.
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17 | Section 45. No rulemaking. Notwithstanding any other | ||||||
18 | rulemaking authority that may exist, neither the Governor nor | ||||||
19 | any agency or agency head under the jurisdiction of the | ||||||
20 | Governor has any authority to make or promulgate rules to | ||||||
21 | implement or enforce the provisions of this Act. If, however, | ||||||
22 | the Governor believes that rules are necessary to implement or | ||||||
23 | enforce the provisions of this Act, the Governor may suggest |
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1 | rules to the General Assembly by filing them with the Clerk of | ||||||
2 | the House and Secretary of the Senate and by requesting that | ||||||
3 | the General Assembly authorize such rulemaking by law, enact | ||||||
4 | those suggested rules into law, or take any other appropriate | ||||||
5 | action in the General Assembly's discretion. Nothing contained | ||||||
6 | in this Act shall be interpreted to grant rulemaking authority | ||||||
7 | under any other Illinois statute where such authority is not | ||||||
8 | otherwise explicitly given. For the purposes of this Section, | ||||||
9 | "rules" is given the meaning contained in Section 1-70 of the | ||||||
10 | Illinois Administrative Procedure Act, and "agency" and | ||||||
11 | "agency head" are given the meanings contained in Sections 1-20 | ||||||
12 | and 1-25 of the Illinois Administrative Procedure Act to the | ||||||
13 | extent that such definitions apply to agencies or agency heads | ||||||
14 | under the jurisdiction of the Governor. | ||||||
15 | Section 90. The State Finance Act is amended by adding | ||||||
16 | Section 5.708 as follows: | ||||||
17 | (30 ILCS 105/5.708 new) | ||||||
18 | Sec. 5.708. The Emerging Technology Grant Fund.
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19 | Section 99. Effective date. This Act takes effect upon | ||||||
20 | becoming law.
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