Illinois General Assembly - Bill Status for SB3655
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 Bill Status of SB3655  96th General Assembly

Short Description:  FINANCE-TECHNOLOGY ACCOUNT

Senate Sponsors
Sen. Dan Kotowski - Dan Rutherford, Deanna Demuzio, Emil Jones, III, Heather Steans, Mike Jacobs, A. J. Wilhelmi, Linda Holmes, John M. Sullivan, Toi W. Hutchinson, Jacqueline Y. Collins, Terry Link and Ira I. Silverstein

House Sponsors
(Rep. Barbara Flynn Currie - Robert F. Flider)

Last Action
DateChamber Action
  6/23/2010SenatePublic Act . . . . . . . . . 96-0937

Statutes Amended In Order of Appearance
30 ILCS 265/11 new


Synopsis As Introduced
Amends the Technology Development Act. Authorizes the State Treasurer to segregate up to 2% of the Treasurer's investment portfolio in the Technology Development Account IIa. Authorizes investments from the account to provide venture capital to help attract, assist, and retain quality technology businesses in Illinois. Contains provisions concerning soliciting proposals from entities to manage and be the General Partner of Technology Development Account IIb, consisting of investments from the private sector that must invest, at the direction of the Treasurer, in tandem with TDA IIa. Sets restrictions and conditions. Effective immediately.

House Committee Amendment No. 1
Deletes reference to:
30 ILCS 265/11
Adds reference to:
35 ILCS 5/201from Ch. 120, par. 2-201

Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Provides that the research and development credit applies for taxable years ending on or after December 31, 2004, and ending prior to January 1, 2011 (now, the credit sunsets on December 31, 2009 under the Act's automatic sunset provisions). Provides that the research and development credit may not be carried forward to any taxable year ending on or after January 1, 2011. Effective immediately.

Actions 
DateChamber Action
  2/11/2010SenateFiled with Secretary by Sen. Dan Kotowski
  2/11/2010SenateFirst Reading
  2/11/2010SenateReferred to Assignments
  2/24/2010SenateAssigned to Commerce
  2/25/2010SenateAdded as Co-Sponsor Sen. Deanna Demuzio
  3/4/2010SenateDo Pass Commerce; 009-000-000
  3/4/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010
  3/10/2010SenateAdded as Co-Sponsor Sen. Emil Jones, III
  3/10/2010SenateSecond Reading
  3/10/2010SenatePlaced on Calendar Order of 3rd Reading March 11, 2010
  3/12/2010SenateAdded as Co-Sponsor Sen. Heather Steans
  3/12/2010SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford
  3/15/2010SenateAdded as Co-Sponsor Sen. Mike Jacobs
  3/15/2010SenateAdded as Co-Sponsor Sen. A. J. Wilhelmi
  3/15/2010SenateAdded as Co-Sponsor Sen. Linda Holmes
  3/15/2010SenateAdded as Co-Sponsor Sen. John M. Sullivan
  3/15/2010SenateAdded as Co-Sponsor Sen. Toi W. Hutchinson
  3/15/2010SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  3/15/2010SenateAdded as Co-Sponsor Sen. Terry Link
  3/15/2010SenateAdded as Co-Sponsor Sen. Ira I. Silverstein
  3/15/2010SenateThird Reading - Passed; 045-000-000
  3/15/2010HouseArrived in House
  3/15/2010HouseChief House Sponsor Rep. Barbara Flynn Currie
  3/15/2010HousePlaced on Calendar Order of First Reading
  3/16/2010HouseFirst Reading
  3/16/2010HouseReferred to Rules Committee
  4/28/2010HouseFinal Action Deadline Extended-9(b) May 7, 2010
  4/28/2010HouseAssigned to Executive Committee
  5/5/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Executive Committee
  5/5/2010HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
  5/5/2010HouseDo Pass as Amended / Short Debate Executive Committee; 011-000-000
  5/5/2010HousePlaced on Calendar 2nd Reading - Short Debate
  5/5/2010HouseSecond Reading - Short Debate
  5/5/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/6/2010HouseThird Reading - Short Debate - Passed 116-000-000
  5/6/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/6/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 6, 2010
  5/6/2010HouseAdded Alternate Chief Co-Sponsor Rep. Robert F. Flider
  5/6/2010SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Dan Kotowski
  5/6/2010SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/6/2010SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
  5/6/2010SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 010-000-000
  5/6/2010SenateHouse Committee Amendment No. 1 Senate Concurs 058-000-000
  5/6/2010SenatePassed Both Houses
  6/4/2010SenateSent to the Governor
  6/23/2010SenateGovernor Approved
  6/23/2010SenateEffective Date June 23, 2010
  6/23/2010SenatePublic Act . . . . . . . . . 96-0937

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