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HB5264 - 104th General Assembly
DCEO-SMALL BUSINESS LOANS
Last Action
Statutes Amended In Order of Appearance
20 ILCS 605/605-1119 new
30 ILCS 105/5.1038 new
Synopsis As Introduced
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall establish a loan program to provide low interest loans to small businesses that have been negatively impacted by federal immigration enforcement. Provides that the Department may make those loans from the Federal Immigration Recovery Fund and may administer the program directly through the Fund or enter into agreements with banks, credit unions, nonprofit loan administrations, or community development financial institutions. Amends the State Finance Act to create the Federal Immigration Recovery Fund. Effective immediately.
House Floor Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Provides that the Department of Commerce and Economic Opportunity shall establish a loan program to provide low interest loans to small businesses that have been negatively impacted by an economic shock (in the introduced bill, federal immigration enforcement). Renames the Federal Immigration Recovery Fund the Economic Recovery Fund. Provides that the Department of Commerce and Economic Opportunity is authorized to provide participating lenders with an administrative or origination fee, in an amount determined by the Department, to cover the costs of loan origination and servicing. Provides that the State shall provide a 100% guarantee on loans issued under the amendatory Act. Provides that participating lenders shall act as originators and servicers of loans and shall not be required to deploy their own capital. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/05/2026 | House | Filed with the Clerk by Rep. Elizabeth "Lisa" Hernandez |
| 2/10/2026 | House | First Reading |
| 2/10/2026 | House | Referred to Rules Committee |
| 3/18/2026 | House | Assigned to Economic Opportunity & Equity Committee |
| 3/25/2026 | House | Do Pass / Short Debate Economic Opportunity & Equity Committee; 005-002-000 |
| 3/26/2026 | House | Placed on Calendar 2nd Reading - Short Debate |
| 4/10/2026 | House | Second Reading - Short Debate |
| 4/10/2026 | House | Held on Calendar Order of Second Reading - Short Debate |
| 4/14/2026 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Elizabeth "Lisa" Hernandez |
| 4/14/2026 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 4/15/2026 | House | House Floor Amendment No. 1 Rules Refers to Economic Opportunity & Equity Committee |
| 4/15/2026 | House | House Floor Amendment No. 1 Recommends Be Adopted Economic Opportunity & Equity Committee; 005-002-000 |
| 4/17/2026 | House | House Floor Amendment No. 1 Adopted |
| 4/17/2026 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 4/17/2026 | House | Third Reading - Short Debate - Passed 063-034-000 |
| 4/21/2026 | Senate | Arrive in Senate |
| 4/21/2026 | Senate | Placed on Calendar Order of First Reading |
| 4/21/2026 | Senate | Chief Senate Sponsor Sen. Karina Villa |
| 4/21/2026 | Senate | First Reading |
| 4/21/2026 | Senate | Referred to Assignments |
| 4/28/2026 | Senate | Assigned to Appropriations |
| 5/08/2026 | Senate | Rule 2-10 Committee Deadline Established As May 15, 2026 |
| 5/15/2026 | Senate | Rule 2-10 Committee Deadline Established As May 22, 2026 |