SPRINGFIELD — To help youth formerly in DCFS care achieve their higher education goals, State Senator Sara Feigenholtz spearheaded a new law providing scholarship recipients with greater flexibility in how they use the funding.

“By incentivizing diverse career paths, we’re making it easier for students to receive assistance as long as they are in good standing and working toward a degree, certificate or graduation,” said Feigenholtz (D-Chicago). “This flexibility supports greater access to higher education opportunities for former youth in care across our state.”

Provides new tools for business corridor improvements

SPRINGFIELD — A new law sponsored by State Senator Sara Feigenholtz provides a flexible financing tool for the bustling retail and hospitality district along the Magnificent Mile and across Chicago.

“The Magnificent Mile, the gateway to high-end retail from Oak Street to Wacker Drive, is poised to overcome the challenges of the pandemic and evolving consumer habits,” said Feigenholtz (D-Chicago). “This new law provides a tool to fuel its recovery.” 

Senate Bill 3679 permits property owners to petition the city to create a Business Improvement District – or BID – to collectively fund improvement projects through a self-imposed surcharge on commercial property owners. Since the law only applies to commercial properties, residential property owners are safeguarded from paying additional fees.

SPRINGFIELD — To give downtown Chicago business owners a concrete path to address the needs of their communities and generate revenue that can be used to revitalize business corridors across the city, State Senator Sara Feigenholtz advanced legislation that would allow for the creation of Business Improvement Districts.

“After three years of work, we are giving Magnificent Mile business owners the freedom to chart their own path on a downtown revitalization plan,” said Feigenholtz (D-Chicago). “Through Business Improvement Districts, our vibrant city centers will have the flexibility and authority to direct their own spending, development and revival.”

Senate Bill 3679 would set the foundation for Chicago businesses to form a Business Improvement District – or BID – and collectively fund improvement projects. Business owners would have direct oversight on how the funds are utilized for projects within the district. BIDs only apply to commercial properties, meaning homeowners and residential properties would not pay any additional fees.

SPRINGFIELD — State oversight authorities could soon have clarity in order to hold financial institutions accountable for deceptive practices under legislation sponsored by State Senator Sara Feigenholtz.

“Throughout my career, I have prioritized strengthening corporate and consumer transparency,” said Feigenholtz (D-Chicago). “Taking on the financial sector is the next step to continue fostering a fair and equitable business environment in Chicago and throughout the state.”

Feigenholtz’s measure seeks to modernize the law regulating entities like credit unions, currency exchanges, pawnbrokers, collection agencies and payday lenders in Illinois. The legislation would provide the Division of Financial Institutions at the Department of Financial and Professional Regulation with more substantial enforcement authority so the agency can investigate complaints against the entities it licenses.