summary
Introduced
02/06/2025
02/06/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
104th General Assembly
Bill Summary
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity may award grants to match the funds received by a business through an SBIR/STTR Phase I proposal up to a maximum of $75,000 (currently, $50,000). Provides that the Department of Commerce and Economic Opportunity may award grants to match the funds received by a business through an SBIR/STTR Phase II proposal up to a maximum of $250,000. Provides that 50% of the total Phase II grant shall be remitted to the business upon submission by the business of the Phase II final report to the federal funding agency. Provides that a business may receive only one such grant per year. Provides that, over its lifetime, a business may receive a maximum of 2 such awards.
AI Summary
This bill amends the Illinois Department of Commerce and Economic Opportunity Law to enhance the state's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program. The bill increases the maximum grant amount for Phase I proposals from $50,000 to $75,000 and introduces a new provision for Phase II proposals with a maximum grant of $250,000. For Phase I grants, 75% will be disbursed upon receiving the federal award, with the remaining 25% paid after submitting the Phase II application and having the Phase I report accepted. For Phase II grants, 50% will be paid upon receiving the federal award, with the remaining 50% released after submitting the final report to the federal funding agency. The bill limits businesses to one grant per year for each type of proposal (Phase I and Phase II) and caps lifetime awards at one Phase I grant and two Phase II grants. To be eligible, businesses must be for-profit, Illinois-based companies that have received a federal SBIR/STTR award, conduct at least 51% of their research in Illinois, and meet other specified requirements. The goal of these grants is to foster job creation and economic development by supporting innovative small businesses in the state.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1918&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| Senate Amendment 001 | https://www.ilga.gov/legislation/104/SB/10400SB1918sam001.htm |
| BillText | https://www.ilga.gov/legislation/104/SB/10400SB1918.htm |
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