Illinois 97th Regular Session Status: Enacted 1 D cosponsors

HB 5452 — IFA-VENTURE INVEST FUND LIMITS

Last action — Public Act . . . . . . . . . 97-0789

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

This bill has been enacted into law. Introduced February 09, 2012. Enacted.

Prognosis

Likely to advance 72% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority may (rather than shall) develop and maintain a list of firms located within the State that are available for purchase, merger, or acquisition. Provides that the Authority may (rather than shall) identify and study any laws or regulations that it finds handicaps or bars a needed health facility from participating in the benefits of the Act and may (rather than shall) recommend to the General Assembly actions to remedy any handicaps or bars to participation. Effective immediately.

Bill Text

What changed in the latest version

6 added · 6 removed

Plain-language change summary

The changes to Bill HB 5452 consist of replacing the term "Engrossed" with "Enrolled" in several lines. This modification indicates that the bill is moving forward in the legislative process and has been finalized for official publication and distribution. It matters because it signals to legislators and the public that the bill is ready for the next steps, bringing it closer to becoming law.

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HB5452 Engrossed LRB097 19625 PJG 64879 b AN ACT concerning State government.
HB5452 Enrolled LRB097 19625 PJG 64879 b AN ACT concerning State government.
(b) To enter into written agreements or contracts (including limited partnership agreements) with one or more professional investors or one or more seed capital investors, if any, for the purpose of establishing a pool of funds to be used exclusively as venture capital or seed capital HB5452 Engrossed - 2 - LRB097 19625 PJG 64879 b investments.
(b) To enter into written agreements or contracts (including limited partnership agreements) with one or more professional investors or one or more seed capital investors, if any, for the purpose of establishing a pool of funds to be used exclusively as venture capital or seed capital HB5452 Enrolled - 2 - LRB097 19625 PJG 64879 b investments.
(c) To make co-venture investments by entering into agreements with one or more professional investors or one or more seed capital investors, if any, who have formally agreed to invest at least 50% as much as the Authority invests in the HB5452 Engrossed - 3 - LRB097 19625 PJG 64879 b enterprise, for the purpose of providing venture capital or seed capital;
(c) To make co-venture investments by entering into agreements with one or more professional investors or one or more seed capital investors, if any, who have formally agreed to invest at least 50% as much as the Authority invests in the HB5452 Enrolled - 3 - LRB097 19625 PJG 64879 b enterprise, for the purpose of providing venture capital or seed capital;
The Authority and participating professional investors and seed capital investors shall share ratably in the profits earned in any form on the co-venture investment, but the Authority may, at its discretion, agree to pay to a participating professional investor a percentage, not to exceed 40% (computed on an annual basis), of cash and other property payable to the Authority as its pro-rata share of distributions to investors in the pool of funds, provided that (i) no amount shall be received by the participating professional investor upon sale or other disposition of qualified investments in the enterprises until recovery by the Authority of its investment and upon liquidation or withdrawal of the Authority from the pool of funds, the participating professional investor shall be obligated to refund any amount received by it from such percentage if necessary to allow the HB5452 Engrossed - 4 - LRB097 19625 PJG 64879 b Authority to recover its investment or (ii) the terms of payment of cash and other property to the Authority are no less favorable to the Authority than payments to other seed capital investors or professional investors (other than the professional investor) who are parties to the agreement or contract;
The Authority and participating professional investors and seed capital investors shall share ratably in the profits earned in any form on the co-venture investment, but the Authority may, at its discretion, agree to pay to a participating professional investor a percentage, not to exceed 40% (computed on an annual basis), of cash and other property payable to the Authority as its pro-rata share of distributions to investors in the pool of funds, provided that (i) no amount shall be received by the participating professional investor upon sale or other disposition of qualified investments in the enterprises until recovery by the Authority of its investment and upon liquidation or withdrawal of the Authority from the pool of funds, the participating professional investor shall be obligated to refund any amount received by it from such percentage if necessary to allow the HB5452 Enrolled - 4 - LRB097 19625 PJG 64879 b Authority to recover its investment or (ii) the terms of payment of cash and other property to the Authority are no less favorable to the Authority than payments to other seed capital investors or professional investors (other than the professional investor) who are parties to the agreement or contract;
(f) To make the investments of any funds held in reserves HB5452 Engrossed - 5 - LRB097 19625 PJG 64879 b or sinking funds, or any funds not required for immediate disbursement, as may be lawful investments for fiduciaries in the State;
(f) To make the investments of any funds held in reserves HB5452 Enrolled - 5 - LRB097 19625 PJG 64879 b or sinking funds, or any funds not required for immediate disbursement, as may be lawful investments for fiduciaries in the State;
1-1-04.) (20 ILCS 3501/840-20) HB5452 Engrossed - 6 - LRB097 19625 PJG 64879 b Sec.
1-1-04.) (20 ILCS 3501/840-20) HB5452 Enrolled - 6 - LRB097 19625 PJG 64879 b Sec.
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Action History

  1. Public Act . . . . . . . . . 97-0789

  2. Effective Date July 13, 2012

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 056-000-000

  7. Placed on Calendar Order of 3rd Reading May 3, 2012

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading April 24, 2012

  10. Do Pass State Government and Veterans Affairs; 005-000-000

  11. Assigned to State Government and Veterans Affairs

  12. Referred to Assignments

  13. First Reading

  14. Chief Senate Sponsor Sen. John G. Mulroe

  15. Placed on Calendar Order of First Reading

  16. Arrive in Senate

  17. Third Reading - Short Debate - Passed 108-000-000

  18. Placed on Calendar - Consideration Postponed

  19. Third Reading - Consideration Postponed

  20. Placed on Calendar Order of 3rd Reading - Short Debate

  21. Second Reading - Short Debate

  22. Added Co-Sponsor Rep. Monique D. Davis

  23. Placed on Calendar 2nd Reading - Short Debate

  24. Do Pass / Short Debate State Government Administration Committee; 018-000-000

  25. Assigned to State Government Administration Committee

  26. Referred to Rules Committee

  27. First Reading

  28. Filed with the Clerk by Rep. Robyn Gabel

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"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

Votes

Third Reading

Passed 56 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 45001
Democrat 8002
Republican 3000
Total 56003
% of votes cast 95%0%0%5%
How each member voted (59)
Member Party Vote
Forby — Yea
Mulroe — Yea
Haine — Yea
Hutchinson — Yea
Luechtefeld — Yea
Maloney — Yea
Brady — Yea
Clayborne — Yea
Jacobs — Yea
McGuire — Yea
Johnson, T. — Yea
Kotowski — Yea
LaHood — Yea
Jones, J. — Yea
Sullivan — Yea
Landek — Yea
Lauzen — Yea
Cullerton — Yea
McCann — Yea
Johnson, C. — Not Voting
McCarter — Yea
Meeks — Yea
Millner — Yea
Muñoz — Yea
Noland — Yea
Schoenberg — Yea
Crotty — Yea
Cultra — Yea
Dillard — Yea
Duffy — Yea
Frerichs — Yea
Garrett — Yea
Steans — Yea
Trotter — Yea
Pankau — Yea
Radogno — Yea
Raoul — Yea
Righter — Yea
Sandack — Yea
Sandoval — Yea
Silverstein — Yea
Link — Yea
Althoff — Yea
Martinez — Yea
Bivins — Yea
Bomke — Yea
David Koehler Democrat Yea
Don Harmon Democrat Not Voting
Emil Jones, III Democrat Yea
Eva-Dina Delgado Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Lakesia Collins Democrat Not Voting
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Dave Syverson Republican Yea
Kevin Schmidt Republican Yea
Sue Rezin Republican Yea

Official roll call →

Third Reading

Passed 108 Yea · 0 Nay · 9 Other
Party YeaNayPresentNot Voting
Unaffiliated 91006
Democrat 14001
Republican 3002
Total 108009
% of votes cast 92%0%0%8%
How each member voted (117)
Member Party Vote
Brauer — Yea
Brown — Yea
Carli — Yea
Cole — Yea
Colvin — Yea
Connelly — Yea
Costello — Yea
McAsey — Yea
Jakobsson — Yea
Jefferson — Yea
Kay — Yea
Krezwick — Yea
Leitch — Yea
Mell — Yea
Moffitt — Yea
Morthland — Yea
Lyons — Yea
Mulligan — Yea
Senger — Yea
Sente — Yea
Sommer — Yea
Soto — Yea
Thapedi — Yea
Bradley — Yea
Brady — Yea
McGuire — Yea
Burke, Daniel — Yea
Burke, Kelly — Yea
Sullivan — Yea
Harris, David — Yea
Cavaletto — Yea
Dugan — Yea
Dunkin — Yea
Durkin — Yea
Farnham — Yea
Flowers — Yea
Fortner — Yea
Franks — Yea
Gaffney — Yea
Golar — Yea
Harris, Greg — Yea
Madigan — Yea
May — Not Voting
Hernandez — Yea
McAuliffe — Not Voting
Howard — Yea
Watson — Yea
Nekritz — Yea
Williams — Yea
Nybo — Yea
Jones — Yea
Phelps — Yea
Pihos — Yea
Davis, Monique — Yea
Mitchell, Bill — Not Voting
Mitchell, Jerry — Not Voting
Tryon — Yea
Turner — Yea
Unes — Yea
Verschoore — Yea
Winters — Yea
Yarbrough — Yea
Zalewski — Yea
Coladipietro — Yea
Cross — Yea
Currie — Yea
D'Amico — Yea
Gordon — Not Voting
Hatcher — Yea
Hays — Yea
Jackson — Yea
Kosel — Yea
Osmond — Yea
Penny — Yea
Poe — Yea
Pritchard — Yea
Ramey — Not Voting
Reboletti — Yea
Reis — Yea
Riley — Yea
Roth — Yea
Sacia — Yea
Saviano — Yea
Schmitz — Yea
Lang — Yea
Acevedo — Yea
Arroyo — Yea
Barickman — Yea
Beiser — Yea
Bellock — Yea
Mathias — Yea
Berrios — Yea
Biss — Yea
Mautino — Yea
Bost — Yea
Chapa LaVia — Yea
Du Buclet — Yea
Anthony DeLuca Democrat Yea
Bill Cunningham Democrat Yea
Camille Y. Lilly Democrat Yea
Fred Crespo Democrat Yea
Julie A. Morrison Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Michelle Mussman Democrat Yea
Nicholas K. Smith Democrat Not Voting
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robyn Gabel Democrat Yea
Sara Feigenholtz Democrat Yea
William "Will" Davis Democrat Yea
Chapin Rose Republican Not Voting
Jil Tracy Republican Not Voting
Joe C. Sosnowski Republican Yea
Norine K. Hammond Republican Yea
Wayne A. Rosenthal Republican Yea

Official roll call →

Subjects

finance healthcare
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 HB 5452 do?
Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority may (rather than shall) develop and maintain a list of firms located within the State that are available for purchase, merger, or acquisition. Provides that the Authority may (rather than shall) identify and study any laws or regulations that it finds handicaps or bars a needed health facility from participating in the benefits of the Act and may (rather than shall) recommend to the General Assembly actions to remedy any handicaps or bars to participation. Effective immediately.
Who sponsors HB 5452?
HB 5452 is sponsored by Robyn Gabel (Democrat).
What is the current status of HB 5452?
This bill has been enacted into law. Introduced February 09, 2012. Enacted.
Where can I track HB 5452?
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