Bill > SB2198

This bill aims to support small businesses in Illinois by creating a new financing program and modifying procurement regulations. Specifically, the Department of Commerce and Economic Opportunity will establish a low-interest financing program to help small businesses fulfill state contracts, subject to legislative funding appropriation. The bill also amends the Illinois Procurement Code to require the Department of Central Management Services to develop a scorecard for evaluating bids from businesses with annual gross sales under $15 million. Additionally, the bill clarifies and expands existing provisions about small business set-asides in state contracts, which are contracts specifically reserved for small businesses that meet certain criteria. These criteria include being independently owned and operated, with size limitations varying by industry type - for example, a wholesale business cannot exceed $13 million in annual sales, a retail or service business cannot exceed $8 million, a manufacturing business cannot employ more than 250 people, and a construction business cannot exceed $14 million in annual sales. The bill also mandates that state agencies designate between 25% and 40% of their annual construction contracts as small business set-asides and requires ongoing reporting and specialist support to help small businesses navigate state contract opportunities.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2198&GAID=18&DocTypeID=SB&SessionID=114&GA=104