SPRINGFIELD – A bipartisan measure to help first-time business owners in Illinois was approved by the Illinois Senate today. The entrepreneur learner’s permit program was introduced by State Sen. Linda Holmes, a Democrat from Aurora.
“There has been a lot of talk about making Illinois more business friendly, but not enough action,” Holmes said. “This legislation encourages first-time small business owners to set up in Illinois by giving them incentives. It is important that we as lawmakers do whatever we can to strengthen Illinois’ economy in real and tangible ways.”
The entrepreneur learner’s permit would encourage small business growth by reimbursing first-time business owners for certain costs paid to the state for licensing and permits. The Illinois legislation creates a pilot version of a similar program established by the Connecticut State Legislature in July of 2016.
The measure, Senate Bill 1462, has been approved by the Illinois Senate and now moves to the House of Representatives.
State Sen. Jennifer Bertino-Tarrant (D-Shorewood) participated in a groundbreaking ceremony for a project that will bring businesses and jobs to Shorewood.
The plan, which Bertino-Tarrant pushed for, will allow for land at the northwest corner of the intersection of Routes 59 and 52 in Shorewood to be redeveloped.
“More businesses and jobs will be coming to Shorewood,” Bertino-Tarrant said. “This initiative is good for the community, and I look forward to continuing to support projects that will enhance economic development throughout my district.”
Businesses will find it easier to operate in Illinois under legislation sponsored by Senator Don Harmon (D-Oak Park) that was signed into law Thursday.
House Bill 4361 is a broad, comprehensive modernization of Illinois’ Limited Liability Company Act, which last was rewritten in 1994. The law had been updated in a piecemeal fashion since then, but it was due for a sweeping update.
The measure, which had bipartisan support in the legislature, is another effort to make Illinois a more business friendly state.
“This update to Illinois’ LLC Act not only modernizes some of our laws, it also eliminates unclear or contradictory rules that can be frustrating for companies to navigate,” Harmon said. “It makes our laws more consistent with those of other states and enables Illinois to be a more attractive and inviting place for businesses to set up shop.”
The legislation was the result of a six-year project by the Institute of Illinois Business Law to update the state’s LLC Act. The project was prompted by the 2006 publication of the Revised Uniform Limited Liability Company Act by the National Conference of Commissioners on Uniform State Laws.
Joliet attorney Michael Hansen is past chairman of the Institute of Illinois Business Law, a group of about 40 corporate lawyers in Illinois who oversee the state’s business and corporate laws.
“Limited liability companies are now the favored business entity,” he said. “The changes to the Act will mean the formation in Illinois of more LLCs, while still providing necessary protections to the members of the LLC.”
Representatives Elaine Nekritz (D-Northbrook) and Carol Sente (D-Vernon Hills) sponsored the measure in the Illinois House.
SPRINGFIELD— Legislation that would help veterans become business owners was passed out of the Illinois Senate Thursday.
The measure, Senate Bill 324, would create a program at the Illinois Finance Authority that would allow veterans to apply and receive a business loan. The program would be similar to agribusiness and farming programs administered by the state treasurer.
State Senator Bill Haine (D-Alton), who is the chief co-sponsor of the measure, said that this initiative would help veterans to receive start-up capital they need to start their own businesses.
“This legislation would create a great program to help those who have served our country. There are so many veterans out there who face adversity when they return from service,” Haine said. “These are people who have great leadership skills, yet lack the resources to funnel those skills into a career that works for them. This measure would provide that avenue. I am happy to be a sponsor of this initiative, and I am happy be able to give back to the veteran community.”
Today, less than 7 percent of returning veterans own their own businesses.
Nearly 550 service members transition from military to civilian life each day, and an estimated 1 million veterans will settle into communities across our country within the next three to five years. This plan would help veterans readjust.
The measure was introduced by Senator Bertino-Tarrant (D-Shorewood). It passed the Senate on Thursday and will now go to the House for consideration.
SPRINGFIELD— Legislation that would help veterans become business owners was passed out of the Illinois Senate today by State Sen. Jennifer Bertino-Tarrant (D-Shorewood).
“There are many veterans who heroically serve our nation, gain valuable leadership and management skills yet can have a hard time starting a new career when they come home,” Bertino-Tarrant said. “My plan would help our veterans get the start-up capital they need to start their own businesses and create jobs for others.”
Bertino-Tarrant is working on her proposal with Lynn Lowder, a former Marine officer and advocate for veterans becoming small-business owners.
“In the nine years following World War II, 50 percent of veterans ended up in business for themselves,” Lowder said. “Unfortunately, fewer veterans now are able to start a business. This initiative is the key missing piece that would give our veterans the tools they need to become entrepreneurs.”
Today, less than seven percent of returning veterans own their own businesses.
Nearly 550 service members transition from military to civilian life each day, and an estimated 1 million veterans will settle into communities across our country within the next three to five years.
“When our veterans come home, we need to make sure our veterans have the full support of our state as their service deserves,” Bertino-Tarrant said.
Bertino-Tarrant is sponsoring Senate Bill 324 that would create a program at the Illinois Finance Authority that would allow veterans to apply and receive a business loan. The program would be similar to agribusiness and farming programs administered by the State Treasurer.
Bertino-Tarrant advanced Senate Bill 324 out of the Illinois Senate today. It will now go to the Illinois House for approval.
State Senator Terry Link (D-Waukegan) joined a gathering of more than 100 business professionals and area lawmakers this week. The event, sponsored by the Green Oaks, Libertyville, Mundelein, Vernon Hills (GLMV) Chamber of Commerce, was an opportunity for an open dialogue on legislation aimed to improve the business environment in Illinois.
“Working side-by-side with the business community to keep a healthy economy and employment opportunities is one of my top priorities,” said Link. “I look forward to continuing to work with these entrepreneurial leaders to promote a thriving Illinois."
Sen. Link joined U.S. congressman Robert Dold and State Representatives Carol Sente and Ed Sullivan Jr. at the annual breakfast event.
JOLIET — State Senator Jennifer Bertino-Tarrant (D-Plainfield) partnered with the Illinois Department of Employment Security to hold a successful hiring fair this week.
“Job fairs are important for connecting employers with community members who are looking for work,” Bertino-Tarrant said. “I enjoyed meeting those who attended, and I look forward to having future events that will help people obtain employment.”
More than 50 people showed up to meet with representatives from participating businesses. The first hour of the hiring fair catered specifically to veterans.
“Our veterans have loyally served our nation, and I’m committed to doing what I can to make sure they’re employed,” Bertino-Tarrant said.
Details on Bertino-Tarrant’s upcoming events are on her website.