Bill Status of HB 1874   97th General Assembly


Short Description:  IL EMERGING TECHNOLOGY ACT

House Sponsors
Rep. Tom Cross-Darlene J. Senger-Dwight Kay

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
15 ILCS 520/22.3 new
30 ILCS 105/5.786 new

Synopsis As Introduced
Creates the Illinois Emerging Technology Act. Provides for the creation of the Emerging Technology Advisory Panel. Provides that the Emerging Technology Advisory Panel shall consist of 9 members. Sets forth the appointment, terms, and duties of the members. Provides that the Department of Commerce and Economic Opportunity, with the assistance of the Emerging Technology Advisory Panel, shall establish the Illinois Emerging Technology Program to make grants, loans, and equity investments from the Illinois Emerging Technology Fund to entrepreneurs involved with emerging technologies. Amends the Deposit of State Moneys Act. Requires that the State Comptroller direct and the State Treasurer transfer from the General Revenue Fund to the Illinois Emerging Technology Fund an amount no less than $75,000,000 and no more than $100,000,000. Amends the State Finance Act to create the Illinois Emerging Technology Fund as a special fund in the State treasury.

Actions 
DateChamber Action
  2/16/2011HouseFiled with the Clerk by Rep. Tom Cross
  2/16/2011HouseFirst Reading
  2/16/2011HouseReferred to Rules Committee
  2/22/2011HouseAssigned to Executive Committee
  3/1/2011HouseAdded Chief Co-Sponsor Rep. Darlene J. Senger
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  3/24/2011HouseAdded Chief Co-Sponsor Rep. Dwight Kay
  1/8/2013HouseSession Sine Die

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