Chapter 30 — FINANCE

(30 ILCS 750/8-7) (from Ch. 127, par. 2708-7) Sec. 8-7. Public Infrastructure Construction Loan Revolving Fund. (a) There is hereby created within the State Treasury the Public Infrastructure Construction Loan Revolving Fund ("Fund"). The Department shall have the authority to ma…

(30 ILCS 750/8-8) (from Ch. 127, par. 2708-8) Sec. 8-8. Confidentiality. Any documentary materials or data made or received by any member, agent, or employee of the Department, to the extent that such material or data consist of trade secrets, or commercial or financial informati…

(30 ILCS 750/8-9) (from Ch. 127, par. 2708-9) Sec. 8-9. Federal Programs. The Department is authorized to accept and expend federal monies pursuant to this Article except that the terms and conditions hereunder which are inconsistent with or prohibited by the federal authorizatio…

(30 ILCS 750/9-1) (from Ch. 127, par. 2709-1) Sec. 9-1. This Article shall be known and may be cited as the "Small Business Development Act". (Source: P.A. 84-109.)

(30 ILCS 750/9-10) (from Ch. 127, par. 2709-10) Sec. 9-10. Federal Programs. (a) The Department is authorized to accept and expend federal moneys pursuant to this Article except that the terms and conditions hereunder which are inconsistent with, prohibited by, or more restrictiv…

(30 ILCS 750/9-11) Sec. 9-11. Port Development Revolving Loan Program. (1) There is created in the State Treasury the Port Development Revolving Loan Fund, referred to in this Section as the Fund. Moneys in the Fund may be appropriated for the purposes of the Port Development Rev…

(30 ILCS 750/9-2) (from Ch. 127, par. 2709-2) Sec. 9-2. Definitions. The following terms, whenever used or referred to in this Article, shall have the following meanings ascribed to them, except where the context clearly requires otherwise: (a) "Financial intermediary" means a co…

(30 ILCS 750/9-3) (from Ch. 127, par. 2709-3) Sec. 9-3. Powers and duties. The Department has the power: (a) To make loans or equity investments to small businesses, and to make loans or grants or investments to or through financial intermediaries. The loans and investments shall…

(30 ILCS 750/9-4) (from Ch. 127, par. 2709-4) Sec. 9-4. Intermediary agreements and loans. Any loan made pursuant to this Article shall: (a) Be made only if a participating lender or other investor also provides a portion of the financing with respect to the project. The particip…

(30 ILCS 750/9-4.1) (from Ch. 127, par. 2709-4.1) Sec. 9-4.1. Applications for loans. All applications for loans to small businesses shall be submitted to the Department on forms and subject to filing fees prescribed by the Department. The Department shall conduct such investigat…

(30 ILCS 750/9-4.2) (from Ch. 127, par. 2709-4.2) Sec. 9-4.2. Illinois Capital Revolving Loan Fund. (a) There is hereby created the Illinois Capital Revolving Loan Fund, hereafter referred to in this Article as the "Capital Fund" to be held as a separate fund within the State Tre…

(30 ILCS 750/9-4.2a) Sec. 9-4.2a. Rural micro-business loans. (a) In order to increase the growth of small rural businesses, the rural micro-business loan program is created and shall be administered by the Department of Commerce and Economic Opportunity, subject to appropriation…

(30 ILCS 750/9-4.3) (from Ch. 127, par. 2709-4.3) Sec. 9-4.3. Minority, veteran, female and disability loans. (a) In the making of loans for minority, veteran, female or disability small businesses, as defined below, the Department is authorized to employ different criteria in li…

(30 ILCS 750/9-4.4) Sec. 9-4.4. Financial intermediary agreements. (a) The Department is authorized to exercise its powers and duties set forth in this Article through various financial intermediary agreements to assist young firms, including business start-ups and micro-enterpri…

(30 ILCS 750/9-4.5) Sec. 9-4.5. (Repealed). (Source: P.A. 88-670, eff. 12-2-94. Repealed by P.A. 100-621, eff. 7-20-18.)

(30 ILCS 750/9-4.6) Sec. 9-4.6. Financial intermediary applications. (a) Before implementing any financial intermediary program component, the Department may establish rules including, but not limited to, application, review, and approval procedures; form of documentation, servic…

(30 ILCS 750/9-4.7) Sec. 9-4.7. Military Reservist Business Assistance Loan Program. (a) As used in this Section: "Period of military conflict" means (i) a period of war declared by Congress; (ii) a period of national emergency declared by Congress or by the President; or (iii) a…

(30 ILCS 750/9-4.8) Sec. 9-4.8. State Small Business Credit Initiative Fund. (a) There is hereby created the State Small Business Credit Initiative Fund, also referred to in this Article as the "SSBCI Fund", as a special fund in the State treasury. The purpose of the SSBCI Fund i…

(30 ILCS 750/9-5) (from Ch. 127, par. 2709-5) Sec. 9-5. Equity Investments. Any equity investment shall: (a) Be made only if a participating lender or other investor also provides a portion of the financing with respect to the project. The participating lender's or other investor…

(30 ILCS 750/9-5.1) (from Ch. 127, par. 2709-5.1) Sec. 9-5.1. Applications for Illinois Equity Investments. (a) All applications for the Illinois Equity Investments to or on behalf of small businesses shall be submitted to the Department on forms and subject to filing fees prescr…

(30 ILCS 750/9-5.2) (from Ch. 127, par. 2709-5.2) Sec. 9-5.2. Illinois Equity Fund. (a) There is created the Illinois Equity Fund, to be held as a separate fund within the State Treasury. The purpose of the Illinois Equity Fund is to make equity investments in Illinois. All finan…

(30 ILCS 750/9-5.3) Sec. 9-5.3. Equity intermediary agreements. (a) The Department is authorized to exercise its powers and duties set forth in this Article through equity intermediary agreements to assist young, high risk, technology based firms, including business start-ups. (b…

(30 ILCS 750/9-6) (from Ch. 127, par. 2709-6) Sec. 9-6. Technical Assistance Grants. Any grant made pursuant to this Article shall: (a) Be made only if a recipient not-for-profit organization also provides a portion of the financing with respect to the technical assistance projec…

(30 ILCS 750/9-6.1) (from Ch. 127, par. 2709-6.1) Sec. 9-6.1. Applications for grants. (a) All applications for grants to not-for-profit organizations shall be submitted to the Department on forms prescribed by the Department. The Department shall conduct such investigation and o…

(30 ILCS 750/9-7) (from Ch. 127, par. 2709-7) Sec. 9-7. Hold Harmless. Nothing in this Article shall be construed as creating any rights of a competitor of an approved borrower or any applicant whose application is denied by the Department to challenge any application which is ac…

(30 ILCS 750/9-8) (from Ch. 127, par. 2709-8) Sec. 9-8. Confidentiality. Any documentary materials or data made or received by any member, agent or employee of the Department, to the extent that such material or data consists of trade secrets, commercial, or financial information…

(30 ILCS 750/9-9) (from Ch. 127, par. 2709-9) Sec. 9-9. Annual Report. On January 1 of each year, the Department shall report on its operations of the Illinois Capital Revolving Loan Fund and the Illinois Equity Fund for the preceding fiscal year to the Governor and the General A…

(30 ILCS 751/1) Sec. 1. Short title. This Act may be cited as the Invest in Illinois Act. (Source: P.A. 102-1125, eff. 2-3-23.)

(30 ILCS 751/10) Sec. 10. Definitions. As used in this Act: "Agreement" means an agreement between an applicant and the Department under Section 30 of this Act. "Applicant" means a taxpayer that operates or plans to operate an eligible business in the State. "Business" means a so…

(30 ILCS 751/1000) Sec. 1000. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/15) Sec. 15. Eligibility. (a) The Department may make non-competitive economic incentive awards, including, but not limited to, grants and loans, to assist applicants that pledge to make capital investments and create new jobs in this State or retain jobs in this Sta…

(30 ILCS 751/20) Sec. 20. Application. An applicant seeking an economic incentive under this Act shall submit a detailed application to the Department. The application must, at a minimum, contain the following information: (1) the location of the project; (2) the amount of the ca…

(30 ILCS 751/25) Sec. 25. Review of application. The Department shall determine which projects will benefit the State and are eligible to receive an economic incentive under this Act. In making this determination, the Department may consider: (1) the number of jobs to be created …

(30 ILCS 751/30) Sec. 30. Agreement. (a) Upon approval of an application under this Act, the Department shall enter into an agreement with the applicant that shall include, at a minimum, the following: (1) a detailed description of the project that is the subject of the agreement…

(30 ILCS 751/32) Sec. 32. General Assembly notification. The Department shall notify the President of the Senate, or his or her designee, and the Speaker of the House of Representatives, or his or her designee, when awards for the purposes of this Act are nearing final negotiatio…

(30 ILCS 751/35) Sec. 35. Penalties. (a) If the applicant fails to comply with the performance conditions set forth in an agreement entered into under this Act, then the applicant may be required to repay some or all of the grant, loan, or other economic incentive awarded to the …

(30 ILCS 751/40) Sec. 40. Powers of the Department. The Department, in addition to those powers granted under the Civil Administrative Code of Illinois, is granted and shall have all the powers necessary or convenient to administer the program established under this Act and to ca…

(30 ILCS 751/45) Sec. 45. Annual report. On or before July 1 of each year, the Department shall submit to the General Assembly and the Governor a report on the program established under this Act. The report shall include information on the number of agreements that were entered i…

(30 ILCS 751/5) Sec. 5. Purpose. The General Assembly finds that the State must encourage and promote the retention and expansion of existing businesses and industry within the State and recruit and attract new businesses and industry to the State by providing businesses with rea…

(30 ILCS 751/50) Sec. 50. Statutory exemptions. Awards of economic incentives made pursuant to this Act are exempt from the Corporate Accountability for Tax Expenditures Act, the Illinois Works Jobs Program Act, and Section 45 of the State Finance Act, and any rules adopted under…

(30 ILCS 751/55) Sec. 55. Vendor diversity report. Each applicant shall, no later than April 15 of each taxable year for which an agreement under this Act between the applicant and the Department is in effect, report on the diversity of the vendors used by the applicant. The repo…

(30 ILCS 751/900) Sec. 900. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/905) Sec. 905. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/910) Sec. 910. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/915) Sec. 915. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/920) Sec. 920. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/925) Sec. 925. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/930) Sec. 930. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/935) Sec. 935. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)

(30 ILCS 751/940) Sec. 940. (Amendatory provisions; text omitted). (Source: P.A. 102-1125, eff. 2-3-23; text omitted.)