Illinois General Assembly - Bill Status for HB5420

Creates the Microloan Program Act. Authorizes the Director of Commerce and Economic Opportunity to (i) make loans to eligible intermediaries for the purpose of making short-term, fixed rate loans to certain business concerns, (ii) make grants to those intermediaries to provide marketing, management, and technical assistance to small business concerns, and (iii) make grants to non-profit entities for the purpose of providing marketing, management, and technical assistance to low-income individuals under certain circumstances. Specifies criteria that eligible intermediaries must satisfy. Sets forth requirements for loans made to intermediaries; marketing, management, and technical assistance grants to intermediaries; private sector borrowing technical assistance grants; and loans to small business concerns from eligible intermediaries. Requires the Department to file certain reports with the General Assembly. Amends the State Finance Act to create the Business Loan and Investment Fund as a special fund in the State treasury. Authorizes the Department, subject to appropriation, to use the moneys in the Fund to carry out the purposes of the Microloan Program Act.

Replaces everything after the enacting clause. Amends the State Finance Act, the Civil Administrative Code of Illinois, the Illinois Income Tax Act, the Illinois Insurance Code, the Children's Health Insurance Program Act, the Covering ALL KIDS Health Insurance Act, the Illinois Public Aid Code, and the Illinois Vehicle Code. Requires the Governor to create a unified budget report identifying the budgets of all State agencies offering long-term care services to persons in either institutional or community-based settings. Contains provisions concerning a 2-year moratorium on the expansion of the medical assistance program and other health benefits programs; income limits under the medical assistance program, ALL KIDS, and the Children's Health Insurance program; co-payments for medicaid recipients; managed care enrollments; implementation of the Eligibility Verification and Enrollment (EVE) System; and other matters. Repeals a provision concerning an ad hoc committee appointed by the Department of Healthcare and Family Services and the committee's evaluation of delivery of prescription pharmaceuticals through prepaid capitation plans. Contains provisions concerning fiscal year limitations on certain expenditures. Effective immediately.

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