Bill > SB3725

This bill amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act to allow private funding given as sponsorship for the University of Illinois System Diverse Supplier Development Program (DSDP) to count towards the program's goals. The DSDP is a program designed to help minority, women, and disabled-owned businesses grow. Under this bill, these sponsorship funds, referred to as "dollars toward goal attainment," will be recognized if they are distributed directly to eligible graduates of the DSDP as business advancement funding, without administrative fees, and if the graduates hold certifications with both the Business Enterprise Program and the Illinois Commission on Equity and Inclusion. Additionally, entities providing sponsorship must have met their own state contract goals or have an approved waiver, and they must clearly allocate the funds if they are contracting with multiple state entities to avoid double-counting. The DSDP will be required to report annually on the sponsorship and funding initiative to the Commission on Equity and Inclusion, detailing moneys received, sponsoring entities, and graduates who received funding. This provision applies to graduating cohorts after the bill's passage, and the funds will be treated as reciprocal sponsorships for tax purposes, not charitable donations.

Government Affairs

https://www.ilga.gov/Legislation/BillStatus?DocNum=3725&GAID=18&DocTypeID=SB&SessionID=114&GA=104