House Sponsors: FLOWERS-FEIGENHOLTZ-SCOTT-DART, HOWARD, KENNER AND SILVA. Short description: MINORITY-FRANCHISE EQUITY Synopsis of Bill as introduced: Creates the Minority and Female Franchise Equity Investment Act. Authorizes the Attorney General to administer a program of financial assistance to enable minority and female owned businesses to purchase franchises. Amends the Franchise Disclosure Act of 1987 to increase certain franchise fees. Amends the State Finance Act to create the necessary special fund within the State treasury. CORRECTIONAL NOTE Minimal fiscal and prison population impact on DOC. FISCAL NOTE (Attorney General) A separate bureau would require an annual budget of $727,651 initially. Subsequent supplemental funding would be necessary as revenues generated would be insufficient for full funding. HOUSE AMENDMENT NO. 1. Deletes reference to: 30 ILCS 105/5.449 new Deletes everything. Creates the Minority and Female Franchise Investment Act. Provides that the Director of Commerce and Community Affairs shall administer a program to encourage the development of franchises by minorities and women. Sets the powers and duties of the Director with respect to the program. Sets qualifications for persons participating in the program. Creates the Illinois Franchise Trust Fund to make loans to qualifying persons. Contains other provisions. Amends the Franchise Disclosure Act of 1987 to increase certain franchise fees. STATE MANDATES FISCAL NOTE, H-AM 1 HB621, amended by H-am 1, fails to create a State mandate. HOME RULE NOTE, H-AM 1 HB621, amended by H-am 1, fails to preempt home rule authority. FISCAL NOTE, H-AM 1 (DCCA) Fiscal impact cannot be determined at this time. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status