Illinois 101st Regular Session Status: Passed Senate 8 D cosponsors

SB 2946 — TECH DEV ACCT-GRANT AUTHORITY

Last action — Added as Chief Co-Sponsor Sen. Mattie Hunter

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 101st Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Technology Development Act. Removes a provision specifying that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 10% of the total investments in the fund. Provides that distributions from a TDA II-Recipient Fund, in an amount not to exceed the commitment amount and total distributions received, may be reinvested into a specified account without being counted against the 5% cap. Provides that specified moneys in the Technology Development Fund may be provided as grants to technology businesses in order to foster, accelerate, and scale technology innovation in Illinois. Modifies the term "technology business" to expand the meaning of technology oriented or emerging activity. Makes conforming changes. Effective immediately.

Bill Text

Action History

  1. Added as Chief Co-Sponsor Sen. Mattie Hunter

  2. Added as Co-Sponsor Sen. Adriane Johnson

  3. Rule 2-10 Third Reading/Passage Deadline Established As May 31, 2020

  4. Rule 2-10 Third Reading Deadline Established As May 29, 2020

  5. Rule 2-10 Third Reading Deadline Established As May 22, 2020

  6. Rule 2-10 Third Reading Deadline Established As May 15, 2020

  7. Pursuant to Senate Rule 3-9(b) / Referred to Assignments

  8. Rule 2-10 Third Reading Deadline Established As May 7, 2020

  9. Added as Co-Sponsor Sen. Jennifer Bertino-Tarrant

  10. Added as Co-Sponsor Sen. Michael E. Hastings

  11. Added as Co-Sponsor Sen. Laura M. Murphy

  12. Added as Co-Sponsor Sen. Antonio Muñoz

  13. Added as Co-Sponsor Sen. Christopher Belt

  14. Added as Chief Co-Sponsor Sen. Iris Y. Martinez

  15. Placed on Calendar Order of 2nd Reading February 25, 2020

  16. Do Pass Commerce and Economic Development; 010-000-000

  17. Added as Co-Sponsor Sen. Napoleon Harris, III

  18. Added as Chief Co-Sponsor Sen. Linda Holmes

  19. Assigned to Commerce and Economic Development

  20. Referred to Assignments

  21. First Reading

  22. Filed with Secretary by Sen. Suzy Glowiak Hilton

Sponsors

Sponsorship breakdown

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0 sponsors · 11 co-sponsors · 172 not signed on

Sponsors (0)

None.

Co-sponsors (11)

Not signed on (172)

172 members have not signed on to this bill.

Show all 172 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2946 do?
Amends the Technology Development Act. Removes a provision specifying that the investment of the State Treasurer in any fund created by an Illinois venture capital firm in which the State Treasurer places money shall not exceed 10% of the total investments in the fund. Provides that distributions from a TDA II-Recipient Fund, in an amount not to exceed the commitment amount and total distributions received, may be reinvested into a specified account without being counted against the 5% cap. Provides that specified moneys in the Technology Development Fund may be provided as grants to technology businesses in order to foster, accelerate, and scale technology innovation in Illinois. Modifies the term "technology business" to expand the meaning of technology oriented or emerging activity. Makes conforming changes. Effective immediately.
Who sponsors SB 2946?
SB 2946 is sponsored by Mattie Hunter (Democrat), Linda Holmes (Democrat), Iris Y. Martinez, Napoleon Harris III (Democrat), Christopher Belt (Democrat), Antonio Muñoz, Laura M. Murphy (Democrat), Michael E. Hastings (Democrat), Jennifer Bertino-Tarrant, Adriane L. Johnson (Democrat), and Suzy Glowiak Hilton (Democrat).
What is the current status of SB 2946?
This bill died with 101st Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2946?
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