Illinois General Assembly - Full Text of Public Act 096-0656

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Public Act 096-0656

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Public Act 0656 96TH GENERAL ASSEMBLY

Public Act 096-0656

HB0436 Enrolled LRB096 07997 RCE 18101 b

    AN ACT concerning finance.

    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:

    Section 5. The Department of Commerce and Economic
Opportunity Law of the Civil Administrative Code of Illinois is
amended by adding Section 605-416 as follows:

    (20 ILCS 605/605-416 new)
    Sec. 605-416. Loans to qualified ex-offenders.
    (a) The Department of Commerce and Economic Opportunity may
establish an ex-offender business ownership grant and loan
program. Funding for this program shall come from the
Ex-Offender Fund. The Department shall provide grants to
organizations and entities that work with ex-offenders and
facilitate the reentry of ex-offenders into society.
Organizations wishing to participate in the program must
present an application to the Department in order to receive
funding.
    (b) Funding distributed from the Ex-Offender Fund may be
used only for the following purposes:
        (1) For the awarding of grants to organizations and
    entities to provide low interest loans to ex-offenders so
    that these individuals may start and operate their own
    businesses that have a positive impact on society. The
    maximum amount of a loan funded by a grant under this
    Section that an ex-offender may receive is $5,000.
        (2) For the awarding of grants to entities or
    organizations assisting ex-offenders, so that individual
    ex-offenders may develop business plans to start up their
    own businesses. These grants are to be used for the sole
    purpose of acquiring a business plan developed by a
    credible source. In order to receive these grants,
    qualified ex-offenders must submit an application and
    provide 50% of the cost to develop the business plan.
        (3) For the administration costs of the program.
    (c) For purposes of this Section, "qualified ex-offender"
means any person who:
        (1) is an eligible offender, as defined under Section
    5-5.5-5 of the Unified Code of Corrections;
        (2) was sentenced to a period of incarceration in an
    Illinois adult correctional center; and
        (3) presents an application and a professional
    business plan to the organization or entity that is making
    the loan.

    Section 10. The State Finance Act is amended by adding
Section 5.719 as follows:

    (30 ILCS 105/5.719 new)
    Sec. 5.719. The Ex-Offender Fund.

    Section 99. Effective date. This Act takes effect January
1, 2010.

Effective Date: 1/1/2010

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