Fabio
144 lines
11 KiB
Markdown
144 lines
11 KiB
Markdown
---
|
||
type: "Bill"
|
||
title: "NEW MARKETS-REQUIREMENTS"
|
||
description: "Amends the New Markets Development Program Act. Provides that, to be considered a \"qualified equity investment\" under the Act, 100% (currently, 85%) of the cash purchase price of the investment must be used by the issuer to make qualified low-income community investments in the State of Illinois. Requires qualified community development entities to submit an annual job creation report. Provides that the application for certification as a qualified community development entity must include the amount of qualified equity investment authority the applicant agrees to designate as a federal qualified equity investment under Section 45D of the Internal Revenue Code. Provides that no qualified active low-income community business that receives a qualified low-income community investment from a qualified community development entity that issues qualified equity investments under the Act may directly or indirectly (i) own or have the right to acquire an ownership interest in a qualified community development entity or member or affiliate of a qualified community development entity or (ii) loan to or invest in a qualified community development entity or member or affiliate of a qualified community development entity. Provides that the annual cap on credits under the Act is $50,000,000 (currently, $20,000,000). Effective immediately."
|
||
jurisdiction: "us/states/il"
|
||
legislature: "Illinois General Assembly"
|
||
session: "100th"
|
||
identifier: "SB 652"
|
||
citation: "Illinois SB 652 (100th)"
|
||
classification: ["bill"]
|
||
subjects: []
|
||
status: "enacted"
|
||
primary_sponsors: []
|
||
version_count: 3
|
||
action_count: 76
|
||
vote_count: 3
|
||
first_action: "2017-01-25"
|
||
last_action: "2017-08-25"
|
||
source: "openstates"
|
||
source_identifier: "ocd-bill/c4bbb91b-56bd-4faa-859b-856ab7a0495a"
|
||
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=652&GAID=14&DocTypeID=SB&LegId=100893&SessionID=91&GA=100"
|
||
source_hash: "ac1e1713be3b049d69d284483b3211bdf51d064af55cae1ad70bce58ce1c7ca7"
|
||
vintage: "2026-07-01"
|
||
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
|
||
retrieved_at: "2026-07-06"
|
||
confidence: "reported"
|
||
tags: ["legislation", "bill", "us-il"]
|
||
---
|
||
|
||
# Illinois SB 652 (100th) — NEW MARKETS-REQUIREMENTS
|
||
|
||
Amends the New Markets Development Program Act. Provides that, to be considered a "qualified equity investment" under the Act, 100% (currently, 85%) of the cash purchase price of the investment must be used by the issuer to make qualified low-income community investments in the State of Illinois. Requires qualified community development entities to submit an annual job creation report. Provides that the application for certification as a qualified community development entity must include the amount of qualified equity investment authority the applicant agrees to designate as a federal qualified equity investment under Section 45D of the Internal Revenue Code. Provides that no qualified active low-income community business that receives a qualified low-income community investment from a qualified community development entity that issues qualified equity investments under the Act may directly or indirectly (i) own or have the right to acquire an ownership interest in a qualified community development entity or member or affiliate of a qualified community development entity or (ii) loan to or invest in a qualified community development entity or member or affiliate of a qualified community development entity. Provides that the annual cap on credits under the Act is $50,000,000 (currently, $20,000,000). Effective immediately.
|
||
|
||
## Version chain
|
||
|
||
The bill's text revisions, in order — the diff chain from filing to enrollment.
|
||
|
||
1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB0652&GA=100&SessionId=91&DocTypeId=SB&LegID=100893&DocNum=652&GAID=14&Session=&print=true)
|
||
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB0652eng&GA=100&SessionId=91&DocTypeId=SB&LegID=100893&DocNum=652&GAID=14&Session=&print=true)
|
||
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000SB0652enr&GA=100&SessionId=91&DocTypeId=SB&LegID=100893&DocNum=652&GAID=14&Session=&print=true)
|
||
|
||
## Votes
|
||
|
||
- Third Reading — **51–1** (pass) · upper
|
||
- Third Reading — **111–0** (pass) · lower
|
||
- Concurrence — **53–0** (pass) · upper
|
||
|
||
## Sponsors
|
||
|
||
- Camille Y. Lilly — cosponsor (person)
|
||
- Carol Ammons — cosponsor (person)
|
||
- Daniel V. Beiser — cosponsor (person)
|
||
- James F. Clayborne, Jr. — primary (person)
|
||
- Jay Hoffman — cosponsor (person)
|
||
- Justin Slaughter — cosponsor (person)
|
||
- Marcus C. Evans, Jr. — cosponsor (person)
|
||
- Sonya M. Harper — cosponsor (person)
|
||
|
||
## Timeline
|
||
|
||
The legislative action history — every referral, reading, and vote.
|
||
|
||
- **2017-01-25** Filed with Secretary by Sen. James F. Clayborne, Jr. `filing`
|
||
- **2017-01-25** First Reading `reading-1`
|
||
- **2017-01-25** Referred to Assignments `referral-committee`
|
||
- **2017-01-26** Added as Chief Co-Sponsor Sen. Antonio Muñoz
|
||
- **2017-02-01** Assigned to Commerce and Economic Development `referral-committee`
|
||
- **2017-02-07** Added as Chief Co-Sponsor Sen. Linda Holmes
|
||
- **2017-02-09** Added as Co-Sponsor Sen. Cristina Castro
|
||
- **2017-02-09** Added as Co-Sponsor Sen. Toi W. Hutchinson
|
||
- **2017-03-01** Added as Co-Sponsor Sen. Patricia Van Pelt
|
||
- **2017-03-02** Do Pass Commerce and Economic Development; 009-000-000 `committee-passage`
|
||
- **2017-03-02** Placed on Calendar Order of 2nd Reading March 7, 2017
|
||
- **2017-03-02** Senate Floor Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr. `amendment-introduction`
|
||
- **2017-03-02** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
|
||
- **2017-03-02** Added as Co-Sponsor Sen. Neil Anderson
|
||
- **2017-03-07** Senate Floor Amendment No. 1 Assignments Refers to Commerce and Economic Development
|
||
- **2017-03-07** Added as Co-Sponsor Sen. Jil Tracy
|
||
- **2017-03-08** Senate Floor Amendment No. 2 Filed with Secretary by Sen. James F. Clayborne, Jr. `amendment-introduction`
|
||
- **2017-03-08** Senate Floor Amendment No. 2 Referred to Assignments `referral-committee`
|
||
- **2017-03-15** Senate Floor Amendment No. 2 Assignments Refers to Commerce and Economic Development
|
||
- **2017-03-16** Senate Floor Amendment No. 2 Recommend Do Adopt Commerce and Economic Development; 011-000-000
|
||
- **2017-03-28** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
|
||
- **2017-03-28** Senate Floor Amendment No. 1 Be Approved for Consideration Assignments
|
||
- **2017-03-30** Second Reading `reading-2`
|
||
- **2017-03-30** Senate Floor Amendment No. 2 Adopted; Clayborne `amendment-passage`
|
||
- **2017-03-30** Placed on Calendar Order of 3rd Reading April 4, 2017
|
||
- **2017-04-27** Third Reading - Passed; 051-001-000 `reading-3, passage`
|
||
- **2017-04-27** Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
|
||
- **2017-04-28** Arrived in House `introduction`
|
||
- **2017-04-28** Chief House Sponsor Rep. Lou Lang
|
||
- **2017-04-28** First Reading `reading-1`
|
||
- **2017-04-28** Referred to Rules Committee `referral-committee`
|
||
- **2017-05-09** Assigned to Executive Committee `referral-committee`
|
||
- **2017-05-09** Added Alternate Co-Sponsor Rep. Daniel V. Beiser
|
||
- **2017-05-11** Added Alternate Chief Co-Sponsor Rep. Arthur Turner
|
||
- **2017-05-11** Added Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
|
||
- **2017-05-11** Added Alternate Co-Sponsor Rep. Jay Hoffman
|
||
- **2017-05-15** Added Alternate Chief Co-Sponsor Rep. LaToya Greenwood
|
||
- **2017-05-17** Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
|
||
- **2017-05-17** Added Alternate Co-Sponsor Rep. Justin Slaughter
|
||
- **2017-05-19** Committee Deadline Extended-Rule 9(b) May 26, 2017
|
||
- **2017-05-19** House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
|
||
- **2017-05-19** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
|
||
- **2017-05-26** Added Alternate Chief Co-Sponsor Rep. William Davis
|
||
- **2017-05-26** Final Action Deadline Extended-9(b) May 31, 2017
|
||
- **2017-05-28** House Committee Amendment No. 2 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
|
||
- **2017-05-28** House Committee Amendment No. 2 Referred to Rules Committee `referral-committee`
|
||
- **2017-05-28** House Committee Amendment No. 3 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
|
||
- **2017-05-28** House Committee Amendment No. 3 Referred to Rules Committee `referral-committee`
|
||
- **2017-05-29** House Committee Amendment No. 4 Filed with Clerk by Rep. Lou Lang `amendment-introduction`
|
||
- **2017-05-29** House Committee Amendment No. 4 Referred to Rules Committee `referral-committee`
|
||
- **2017-05-30** House Committee Amendment No. 4 Rules Refers to Executive Committee
|
||
- **2017-05-30** House Committee Amendment No. 4 Adopted in Executive Committee; by Voice Vote `amendment-passage`
|
||
- **2017-05-30** Do Pass as Amended / Short Debate Executive Committee; 011-000-000 `committee-passage`
|
||
- **2017-05-30** House Committee Amendment No. 1 Tabled Pursuant to Rule 40 `amendment-failure`
|
||
- **2017-05-30** House Committee Amendment No. 2 Tabled Pursuant to Rule 40 `amendment-failure`
|
||
- **2017-05-30** House Committee Amendment No. 3 Tabled Pursuant to Rule 40 `amendment-failure`
|
||
- **2017-05-30** Placed on Calendar 2nd Reading - Short Debate
|
||
- **2017-05-30** Second Reading - Short Debate `reading-2`
|
||
- **2017-05-30** Held on Calendar Order of Second Reading - Short Debate `reading-2`
|
||
- **2017-05-31** Placed on Calendar Order of 3rd Reading - Short Debate
|
||
- **2017-05-31** Third Reading - Short Debate - Passed 111-000-000 `reading-3, passage`
|
||
- **2017-05-31** Added Alternate Co-Sponsor Rep. Camille Y. Lilly
|
||
- **2017-05-31** Added Alternate Co-Sponsor Rep. Sonya M. Harper
|
||
- **2017-05-31** Added Alternate Co-Sponsor Rep. Carol Ammons
|
||
- **2017-05-31** Secretary's Desk - Concurrence House Amendment(s) 4
|
||
- **2017-05-31** Placed on Calendar Order of Concurrence House Amendment(s) 4 - May 31, 2017
|
||
- **2017-05-31** House Committee Amendment No. 4 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr. `filing`
|
||
- **2017-05-31** House Committee Amendment No. 4 Motion to Concur Referred to Assignments `referral-committee`
|
||
- **2017-05-31** House Committee Amendment No. 4 Motion to Concur Be Approved for Consideration Assignments
|
||
- **2017-05-31** House Committee Amendment No. 4 Senate Concurs 053-000-000
|
||
- **2017-05-31** Senate Concurs
|
||
- **2017-05-31** Passed Both Houses
|
||
- **2017-06-29** Sent to the Governor `executive-receipt`
|
||
- **2017-08-25** Governor Approved `executive-signature`
|
||
- **2017-08-25** Effective Date August 25, 2017
|
||
- **2017-08-25** Public Act . . . . . . . . . 100-0408 `became-law`
|
||
|
||
## Source
|
||
|
||
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c4bbb91b-56bd-4faa-859b-856ab7a0495a`. Confidence: reported (aggregated from official Illinois legislature records).
|
||
|