Fabio
113 lines
7.4 KiB
Markdown
113 lines
7.4 KiB
Markdown
---
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type: "Bill"
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title: "SMALL BUSINESS DEVELOPMENT"
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description: "Amends the Build Illinois Act. Provides that the Department of Commerce and Economic Opportunity may also make loans or equity investments to small businesses with moneys in the State Small Business Credit Initiative Fund (currently, the Department make only make such loans and equity investments with moneys in the Build Illinois Bond Fund, the Illinois Capital Revolving Fund, or the Illinois Equity Revolving Fund). Provides that the Department of Commerce and Economic Opportunity may make loans to small businesses of up to $2,000,000 (currently, $750,000) per project. Provides that moneys collected from the fees imposed under this Act connected with the Capital Fund shall be deposited into the Capital Fund. Provides that loans under the minority, veteran, female, and persons with a disability loan program shall not exceed $400,000 (currently, $100,000) without a waiver from the Director of Commerce and Economic Opportunity. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "100th"
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identifier: "HB 2698"
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citation: "Illinois HB 2698 (100th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 50
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vote_count: 2
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first_action: "2017-02-08"
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last_action: "2017-08-25"
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source: "openstates"
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source_identifier: "ocd-bill/a63e8383-ca92-48bc-8ec9-ab4808b8e924"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2698&GAID=14&DocTypeID=HB&LegId=103993&SessionID=91&GA=100"
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source_hash: "82801292bcb28f7b2d6c00c7b1a3665a401918d13536b9e3d0e837ab867ab560"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 2698 (100th) — SMALL BUSINESS DEVELOPMENT
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Amends the Build Illinois Act. Provides that the Department of Commerce and Economic Opportunity may also make loans or equity investments to small businesses with moneys in the State Small Business Credit Initiative Fund (currently, the Department make only make such loans and equity investments with moneys in the Build Illinois Bond Fund, the Illinois Capital Revolving Fund, or the Illinois Equity Revolving Fund). Provides that the Department of Commerce and Economic Opportunity may make loans to small businesses of up to $2,000,000 (currently, $750,000) per project. Provides that moneys collected from the fees imposed under this Act connected with the Capital Fund shall be deposited into the Capital Fund. Provides that loans under the minority, veteran, female, and persons with a disability loan program shall not exceed $400,000 (currently, $100,000) without a waiver from the Director of Commerce and Economic Opportunity. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB2698&GA=100&SessionId=91&DocTypeId=HB&LegID=103993&DocNum=2698&GAID=14&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB2698eng&GA=100&SessionId=91&DocTypeId=HB&LegID=103993&DocNum=2698&GAID=14&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB2698enr&GA=100&SessionId=91&DocTypeId=HB&LegID=103993&DocNum=2698&GAID=14&Session=&print=true)
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## Votes
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- Third Reading — **55–0** (pass) · upper
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- Third Reading — **111–1** (pass) · lower
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## Sponsors
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- Arthur Turner — primary (person)
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- Kimberly A. Lightford — cosponsor (person)
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- Michael Connelly — cosponsor (person)
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- Thomas Cullerton — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2017-02-08** Filed with the Clerk by Rep. Arthur Turner `filing`
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- **2017-02-08** First Reading `reading-1`
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- **2017-02-08** Referred to Rules Committee `referral-committee`
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- **2017-02-22** Assigned to Executive Committee `referral-committee`
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- **2017-02-22** Added Chief Co-Sponsor Rep. Linda Chapa LaVia
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- **2017-02-28** Added Co-Sponsor Rep. Elizabeth Hernandez
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- **2017-03-10** House Committee Amendment No. 1 Filed with Clerk by Rep. Arthur Turner `amendment-introduction`
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- **2017-03-10** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2017-03-13** House Committee Amendment No. 1 Rules Refers to Executive Committee
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- **2017-03-29** House Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote `amendment-passage`
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- **2017-03-29** Do Pass as Amended / Short Debate Executive Committee; 011-000-000 `committee-passage`
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- **2017-03-29** Placed on Calendar 2nd Reading - Short Debate
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- **2017-03-29** Added Chief Co-Sponsor Rep. Barbara Wheeler
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- **2017-04-07** Second Reading - Short Debate `reading-2`
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- **2017-04-07** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2017-04-07** Remove Chief Co-Sponsor Rep. Barbara Wheeler
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- **2017-04-07** Added Chief Co-Sponsor Rep. Keith R. Wheeler
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- **2017-04-10** Added Co-Sponsor Rep. Mark Batinick
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- **2017-04-24** Third Reading - Short Debate - Passed 111-001-000 `reading-3, passage`
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- **2017-04-24** Added Chief Co-Sponsor Rep. Carol Ammons
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- **2017-04-24** Added Chief Co-Sponsor Rep. Stephanie A. Kifowit
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- **2017-04-24** Added Co-Sponsor Rep. Melissa Conyears-Ervin
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- **2017-04-24** Added Co-Sponsor Rep. LaToya Greenwood
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- **2017-04-24** Added Co-Sponsor Rep. Robert Martwick
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- **2017-04-24** Added Co-Sponsor Rep. Jehan Gordon-Booth
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- **2017-04-24** Added Co-Sponsor Rep. Elgie R. Sims, Jr.
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- **2017-04-25** Arrive in Senate `introduction`
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- **2017-04-25** Placed on Calendar Order of First Reading April 26, 2017 `reading-1`
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- **2017-05-01** Chief Senate Sponsor Sen. Toi W. Hutchinson
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- **2017-05-01** Added as Alternate Chief Co-Sponsor Sen. Karen McConnaughay
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- **2017-05-02** First Reading `reading-1`
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- **2017-05-02** Referred to Assignments `referral-committee`
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- **2017-05-02** Added as Alternate Chief Co-Sponsor Sen. Andy Manar
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- **2017-05-03** Added as Alternate Co-Sponsor Sen. Kimberly A. Lightford
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- **2017-05-04** Added as Alternate Chief Co-Sponsor Sen. Chuck Weaver
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- **2017-05-05** Assigned to Commerce and Economic Development `referral-committee`
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- **2017-05-05** Added as Alternate Co-Sponsor Sen. Michael Connelly
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- **2017-05-11** Do Pass Commerce and Economic Development; 007-000-000 `committee-passage`
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- **2017-05-11** Placed on Calendar Order of 2nd Reading May 12, 2017
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- **2017-05-12** Added as Alternate Chief Co-Sponsor Sen. Cristina Castro
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- **2017-05-23** Second Reading `reading-2`
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- **2017-05-23** Placed on Calendar Order of 3rd Reading May 24, 2017
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- **2017-05-26** Rule 2-10 Third Reading Deadline Established As May 31, 2017 `reading-3`
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- **2017-05-31** Third Reading - Passed; 055-000-000 `reading-3, passage`
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- **2017-05-31** Added as Alternate Co-Sponsor Sen. Thomas Cullerton
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- **2017-05-31** Passed Both Houses
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- **2017-06-29** Sent to the Governor `executive-receipt`
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- **2017-08-25** Governor Approved `executive-signature`
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- **2017-08-25** Effective Date August 25, 2017
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- **2017-08-25** Public Act . . . . . . . . . 100-0377 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a63e8383-ca92-48bc-8ec9-ab4808b8e924`. Confidence: reported (aggregated from official Illinois legislature records).
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