Illinois 2023-2024 Regular Session

Illinois House Bill HB2318 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2318 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 20 ILCS 3820/5 Amends the Illinois Investment and Development Authority Act. Makes a technical change in a Section concerning the purpose of the Act. LRB103 30462 HLH 56895 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2318 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED: 20 ILCS 3820/5 20 ILCS 3820/5 Amends the Illinois Investment and Development Authority Act. Makes a technical change in a Section concerning the purpose of the Act. LRB103 30462 HLH 56895 b LRB103 30462 HLH 56895 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2318 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
3	3	20 ILCS 3820/5 20 ILCS 3820/5
4	4	20 ILCS 3820/5
5	5	Amends the Illinois Investment and Development Authority Act. Makes a technical change in a Section concerning the purpose of the Act.
6	6	LRB103 30462 HLH 56895 b LRB103 30462 HLH 56895 b
7	7	LRB103 30462 HLH 56895 b
8	8	A BILL FOR
9	9	HB2318LRB103 30462 HLH 56895 b HB2318 LRB103 30462 HLH 56895 b
10	10	HB2318 LRB103 30462 HLH 56895 b
11	11	1 AN ACT concerning State government.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Illinois Investment and Development
15	15	5 Authority Act is amended by changing Section 5 as follows:
16	16	6 (20 ILCS 3820/5)
17	17	7 Sec. 5. Purpose. The The purpose of this Act is to create a
18	18	8 State entity to support the creation and growth of community
19	19	9 development financial institutions, which provide access to
20	20	10 capital for business development, capital investments, and
21	21	11 other financing to expand private sector activities in
22	22	12 economically disadvantaged communities and for low income
23	23	13 people, by providing grants, loans, and technical assistance
24	24	14 to CDFIs. Assistance by this entity would (i) expand financial
25	25	15 services and capital access in economically disadvantaged
26	26	16 communities, (ii) provide support for the creation of new
27	27	17 small businesses and new jobs in economically disadvantaged
28	28	18 communities, (iii) create opportunities for banks to get a
29	29	19 federal incentive for investments in a CDFI, (iv) increase
30	30	20 this State's share of the money distributed annually by the
31	31	21 federal Community Development Financial Institutions Fund, and
32	32	22 (v) create a new partnership between the State, banks and
33	33	23 thrifts, and CDFIs.
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2318 Introduced , by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
38	38	20 ILCS 3820/5 20 ILCS 3820/5
39	39	20 ILCS 3820/5
40	40	Amends the Illinois Investment and Development Authority Act. Makes a technical change in a Section concerning the purpose of the Act.
41	41	LRB103 30462 HLH 56895 b LRB103 30462 HLH 56895 b
42	42	LRB103 30462 HLH 56895 b
43	43	A BILL FOR
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49	49	20 ILCS 3820/5
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53	53	LRB103 30462 HLH 56895 b
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63	63	HB2318 LRB103 30462 HLH 56895 b
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66	66	HB2318- 2 -LRB103 30462 HLH 56895 b HB2318 - 2 - LRB103 30462 HLH 56895 b
67	67	HB2318 - 2 - LRB103 30462 HLH 56895 b
68	68	1 (Source: P.A. 92-864, eff. 6-1-03.)
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74	74	HB2318 - 2 - LRB103 30462 HLH 56895 b