Bill > SB3155

This bill amends the Invest in Illinois Act, which provides economic incentives to businesses. Specifically, it adds a new section that prohibits any awards of economic incentives to a business if that business is either organized in or has its main operations in a "foreign country of concern" or if the government of such a country has a "controlling interest" in the business. A "controlling interest" is defined as having the power to direct a company's management or policies, with a presumption of control if a person or entity owns 25% or more of the voting shares or is entitled to 25% or more of the company's profits. The bill explicitly lists the "foreign countries of concern" as the People's Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Republic of Cuba, Venezuela, and the Syrian Arab Republic, including any entities significantly controlled by these governments.

https://www.ilga.gov/Legislation/BillStatus?DocNum=3155&GAID=18&DocTypeID=SB&SessionID=114&GA=104