Here is a list of positive measures that passed the House and Senate this year and are awaiting Governor Quinn’s signature:

SB 107, Updated Telecommunications Policies
Our state’s telecommunications laws are 25-years old, and these outdated policies are hindering investment in new technologies that could create thousands of jobs for Illinois residents and help support emerging technology companies.  Recognizing the important need to update these laws to spur broadband deployment, economic growth and job creation in Illinois, the House and Senate passed SB 107 unanimously.

SB 3655, the Technology Development Act
The technology sector is creating more quality, high-paying jobs than nearly any other sector in our economy.  Creating an environment where companies can grow and consumers have access to new products and services is part of ITP’s mission.

This amendment to the Technology Development Act works to attract, assist, and retain quality technology businesses in Illinois by authorizing the State Treasurer to allocate up to 2% of the Treasurer’s investment portfolio in the Technology Development Account IIa, which will be used to invest in Illinois-based companies.

SB 3638, Illinois Innovation Zone Act

The Illinois Innovation Zone Act specifies criteria for an area, usually an area with higher concentrations of technology businesses and entrepreneurs, to qualify as an Innovation Zone.  Innovation Zones help existing technology companies grow in Illinois and also attract new businesses to our state through tax incentives, loans and financial assistance.

We are confident Governor Quinn will join the state legislature in supporting these technology initiatives by signing these important bills into law.

Unfortunately another bill ITP supported, SB 3654, the Emerging Technology Industries Act, did not pass this year, but we will continue to promote forward-thinking policies that support investment and growth in Illinois technology companies and services.

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