SB 1522

  • Illinois Senate Bill
  • 96th Regular Session
  • Introduced in Senate Mar 31, 2009
  • Passed Senate Mar 31, 2009
  • House
  • Governor

Emerging Technology Investment

Abstract

Creates the Emerging Technology Industries Act. Requires the Department of Commerce and Economic Opportunity to establish and maintain a program to award grants to emerging-technology enterprises in the State. Sets forth eligibility requirements and funding priorities for awarding the grants, and sets forth procedures for awarding the grants. Requires written contracts in which the emerging-technology enterprise guarantees that it will perform the actions expected to be performed. Sets dollar limits on matching funds for federal Small Business Innovative Research (SBIR) grants and total grant matching funds per year. Limits total credits to $15,000,000 in any one State fiscal year. Amends the State Finance Act to create the Emerging Technology Grant Fund. Amends the Illinois Income Tax Act. Creates an income tax credit for qualified investors who make an investment in an emerging technology enterprise in the State. Provides that the Department of Commerce and Economic Opportunity must certify the amount of the credit and sets forth the procedures for the application and certification of the credit. Sets forth provisions for the revocation and recapture of the tax credit. Contains other provisions. Effective immediately.

Bill Sponsors (33)

Votes


Actions


Jan 12, 2011

Senate

Session Sine Die

Dec 16, 2009

House

Added Alternate Co-Sponsor Rep. Timothy L. Schmitz

House

Added Alternate Co-Sponsor Rep. Fred Crespo

Sep 23, 2009

Senate

Added as Co-Sponsor Sen. A. J. Wilhelmi

Jun 23, 2009

House

Added Alternate Co-Sponsor Rep. William D. Burns

May 31, 2009

House

Rule 19(a) / Re-referred to Rules Committee

May 29, 2009

House

Final Action Deadline Extended-9(b) May 31, 2009

House

Added Alternate Co-Sponsor Rep. Al Riley

May 22, 2009

House

Final Action Deadline Extended-9(b) May 29, 2009

May 20, 2009

House

Added Alternate Co-Sponsor Rep. Sidney H. Mathias

May 19, 2009

House

Added Alternate Co-Sponsor Rep. Careen M. Gordon

House

Added Alternate Co-Sponsor Rep. Michael J. Zalewski

May 14, 2009

House

Added Alternate Co-Sponsor Rep. Robert F. Flider

House

Added Alternate Co-Sponsor Rep. Eddie Washington

May 13, 2009

House

Assigned to Revenue & Finance Committee

May 08, 2009

House

Rule 19(a) / Re-referred to Rules Committee

May 06, 2009

House

Added Alternate Co-Sponsor Rep. Elizabeth Coulson

House

Added Alternate Co-Sponsor Rep. Kay Hatcher

May 05, 2009

House

Added Alternate Co-Sponsor Rep. Jim Watson

House

Added Alternate Co-Sponsor Rep. Randy Ramey, Jr.

Apr 28, 2009

House

Added Alternate Co-Sponsor Rep. Angelo Saviano

House

Added Alternate Co-Sponsor Rep. Michael P. McAuliffe

Apr 23, 2009

House

Added Alternate Co-Sponsor Rep. William Davis

House

Added Alternate Co-Sponsor Rep. Kathleen A. Ryg

House

Added Alternate Co-Sponsor Rep. Julie Hamos

House

Added Alternate Co-Sponsor Rep. David E. Miller

Apr 22, 2009

House

Added Alternate Co-Sponsor Rep. Naomi D. Jakobsson

House

Added Alternate Co-Sponsor Rep. Jehan A. Gordon

Apr 21, 2009

House

Added Alternate Co-Sponsor Rep. Jim Durkin

House

Added Alternate Co-Sponsor Rep. Karen May

House

Added Alternate Co-Sponsor Rep. Lou Lang

House

Added Alternate Co-Sponsor Rep. Karen A. Yarbrough

House

Added Alternate Co-Sponsor Rep. Ronald A. Wait

House

Added Alternate Co-Sponsor Rep. Kevin Joyce

House

Added Alternate Co-Sponsor Rep. John A. Fritchey

Apr 14, 2009

House

Added Alternate Chief Co-Sponsor Rep. Maria Antonia Berrios

House

Assigned to Revenue & Finance Committee

House

Added Alternate Co-Sponsor Rep. Michael W. Tryon

House

Added Alternate Co-Sponsor Rep. Dave Winters

House

Added Alternate Co-Sponsor Rep. Annazette Collins

House

Added Alternate Co-Sponsor Rep. Sara Feigenholtz

House

Added Alternate Chief Co-Sponsor Rep. Mark L. Walker

Apr 02, 2009

House

Added Alternate Chief Co-Sponsor Rep. Mike Fortner

Apr 01, 2009

House

Alternate Chief Sponsor Changed to Rep. Susana A. Mendoza

House

Referred to Rules Committee

House

First Reading

House

Added Alternate Chief Co-Sponsor Rep. Keith Farnham

House

Chief House Sponsor Rep. Keith Farnham

Mar 31, 2009

Senate

Added as Co-Sponsor Sen. Jeffrey M. Schoenberg

House

Placed on Calendar Order of First Reading

House

Arrived in House

Senate

Third Reading - Passed; 054-000-000

Senate

Added as Co-Sponsor Sen. Kirk W. Dillard

Senate

Added as Co-Sponsor Sen. Heather Steans

Senate

Added as Co-Sponsor Sen. Pamela J. Althoff

Senate

Added as Chief Co-Sponsor Sen. Susan Garrett

Mar 24, 2009

Senate

Added as Chief Co-Sponsor Sen. Linda Holmes

Senate

Placed on Calendar Order of 3rd Reading March 25, 2009

Senate

Second Reading

Mar 06, 2009

Senate

Do Pass Revenue; 009-000-000

Senate

Placed on Calendar Order of 2nd Reading March 10, 2009

Mar 05, 2009

Senate

Added as Co-Sponsor Sen. Louis S. Viverito

Senate

Added as Chief Co-Sponsor Sen. Chris Lauzen

Senate

Added as Co-Sponsor Sen. Matt Murphy

Senate

Added as Co-Sponsor Sen. Randall M. Hultgren

Feb 25, 2009

Senate

Assigned to Revenue

Feb 19, 2009

Senate

Added as Chief Co-Sponsor Sen. Dan Kotowski

Feb 18, 2009

Senate

Referred to Assignments

Senate

Filed with Secretary by Sen. Michael W. Frerichs

Senate

First Reading

Bill Text

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Sources

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