PARKER. 20 ILCS 605/46.70 new 30 ILCS 105/5.480 new Amends the Civil Administrative Code of Illinois and the State Finance Act to create the Small Business Incubator Fund. Provides that the Director of Commerce and Community Affairs may make grants to small business incubators dedicated to the successful development of entrepreneurial companies. Provides that the grants shall not exceed 50% of the State income taxes paid in the previous calendar year by qualified businesses leasing space from eligible small business incubators. Provides that an amount equal to 50% of these taxes shall be annually appropriated to the fund. Establishes an application process for grants and limitations on the use of the grants. Provides that the small business incubator grant process is repealed on December 31, 2003. Provides that the evaluation of the grant process shall recommend its continuation or its repeal and shall be submitted to the Governor and the General Assembly before December 31, 2002. Effective immediately. 98-01-14 S FIRST READING 98-01-14 S REFERRED TO SENATE RULES COMMITTEE RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary