Fabio
104 lines
5.9 KiB
Markdown
104 lines
5.9 KiB
Markdown
---
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type: "Bill"
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title: "BUILD ILLINOIS ACT-LOAN LIMIT"
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description: "Amends the Build Illinois Act. Provides that the amount of small business loans made to minority persons, veterans, females, or persons with a disability under the Act shall not exceed $2,000,000 (rather than $400,000) or 50% of the business project costs unless the Director of Commerce and Economic Development determines that a waiver of these limits is required to meet the purposes of the Act. Provides that eligible projects under those provisions include refinancing current debt if the loan will refinance a loan previously made by a lender that is unaffiliated with the financial intermediary making the new loan and the proceeds of the refinance transaction are not used to finance an extraordinary dividend or other distribution."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "103rd"
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identifier: "SB 3807"
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citation: "Illinois SB 3807 (103rd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Carol Ammons", "Celina Villanueva"]
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version_count: 3
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action_count: 34
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vote_count: 4
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first_action: "2024-02-09"
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last_action: "2024-08-09"
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source: "openstates"
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source_identifier: "ocd-bill/fab5c62a-03b8-46a8-8a23-cbe6b1824a2d"
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source_url: "https://beta.ilga.gov/Legislation/BillStatus?DocNum=3807&GAID=17&DocTypeID=SB&LegId=154035&SessionID=112"
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source_hash: "97f89cedd23bbd92dc5c8a19e63e955f8001ffb3a787f4abc8331cf30e86e8c9"
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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 SB 3807 (103rd) — BUILD ILLINOIS ACT-LOAN LIMIT
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Amends the Build Illinois Act. Provides that the amount of small business loans made to minority persons, veterans, females, or persons with a disability under the Act shall not exceed $2,000,000 (rather than $400,000) or 50% of the business project costs unless the Director of Commerce and Economic Development determines that a waiver of these limits is required to meet the purposes of the Act. Provides that eligible projects under those provisions include refinancing current debt if the loan will refinance a loan previously made by a lender that is unaffiliated with the financial intermediary making the new loan and the proceeds of the refinance transaction are not used to finance an extraordinary dividend or other distribution.
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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](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3807.pdf)
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2. **Engrossed** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3807eng.pdf)
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3. **Enrolled** (enrolled) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3807enr.pdf)
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## Votes
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- Third Reading — **109–0** (pass) · lower
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- Third Reading — **54–3** (pass) · lower
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- Small Business, Tech Innovation — **10–0** (pass) · lower
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- Executive — **11–0** (pass) · lower
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## Sponsors
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- Carol Ammons — primary (person)
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- Celina Villanueva — primary (person)
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- Brandun Schweizer — cosponsor (person)
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- Curtis J. Tarver, II — cosponsor (person)
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- Dagmara Avelar — cosponsor (person)
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- Kevin Schmidt — cosponsor (person)
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- Mary Edly-Allen — cosponsor (person)
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- Paul Faraci — cosponsor (person)
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- Yolonda Morris — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2024-02-09** Filed with Secretary by Sen. Celina Villanueva `filing`
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- **2024-02-09** First Reading `reading-1`
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- **2024-02-09** Referred to Assignments
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- **2024-02-28** Assigned to Executive `referral-committee`
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- **2024-02-28** Added as Chief Co-Sponsor Sen. Paul Faraci
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- **2024-03-07** Do Pass Executive; 011-000-000
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- **2024-03-07** Placed on Calendar Order of 2nd Reading March 12, 2024 `reading-2`
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- **2024-03-14** Second Reading `reading-2`
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- **2024-03-14** Placed on Calendar Order of 3rd Reading March 20, 2024
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- **2024-04-10** Placed on Calendar Order of 3rd Reading **
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- **2024-04-11** Added as Co-Sponsor Sen. Mary Edly-Allen
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- **2024-04-12** Third Reading - Passed; 054-003-000 `passage, reading-3`
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- **2024-04-12** Arrived in House `introduction`
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- **2024-04-15** Chief House Sponsor Rep. Carol Ammons
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- **2024-04-15** First Reading `reading-1`
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- **2024-04-15** Referred to Rules Committee
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- **2024-04-24** Assigned to Small Business, Tech Innovation, and Entrepreneurship Committee `referral-committee`
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- **2024-05-02** Do Pass / Short Debate Small Business, Tech Innovation, and Entrepreneurship Committee; 010-000-000
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- **2024-05-02** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2024-05-16** Second Reading - Short Debate `reading-2`
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- **2024-05-16** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2024-05-17** Third Reading/Final Action Deadline Extended-9(b) May 24, 2024
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- **2024-05-22** Added Alternate Chief Co-Sponsor Rep. Dagmara Avelar
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- **2024-05-23** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2024-05-23** Third Reading - Short Debate - Passed 109-000-000 `passage, reading-3`
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- **2024-05-23** Passed Both Houses
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- **2024-05-23** Added Alternate Chief Co-Sponsor Rep. Curtis J. Tarver, II
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- **2024-05-23** Added Alternate Chief Co-Sponsor Rep. Yolonda Morris
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- **2024-05-23** Added Alternate Chief Co-Sponsor Rep. Brandun Schweizer
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- **2024-05-23** Added Alternate Co-Sponsor Rep. Kevin Schmidt
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- **2024-06-21** Sent to the Governor `executive-receipt`
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- **2024-08-09** Governor Approved `executive-signature`
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- **2024-08-09** Effective Date January 1, 2025
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- **2024-08-09** Public Act . . . . . . . . . 103-1051 `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/fab5c62a-03b8-46a8-8a23-cbe6b1824a2d`. Confidence: reported (aggregated from official Illinois legislature records).
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