Bill Text: IL HR0038 | 2013-2014 | 98th General Assembly | Introduced
Bill Title: Requests that the State of Illinois Central Management Services' Business Enterprise Program Council include the equity ownership of silent investors of the same special classification in the calculations of the majority ownership of a company and to include silent investor equity when calculating control of a company when the silent investors have given controlling authority to one or more persons of that classification.
Spectrum: Partisan Bill (Democrat 16-0)
Status: (Failed) 2014-12-03 - Session Sine Die [HR0038 Detail]
Download: Illinois-2013-HR0038-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, The State of Illinois has deemed it important to | ||||||
| 3 | undo historical prejudices by creating special classifications | ||||||
| 4 | for businesses that are majority owned and operated by | ||||||
| 5 | minorities (MBE), females (WBE), or veterans (VOB and SDVOB); | ||||||
| 6 | and
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| 7 | WHEREAS, The State of Illinois' procurement policies | ||||||
| 8 | commonly request that goals be met by MBE, WBE, and VOB/SDVOB | ||||||
| 9 | businesses; and
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| 10 | WHEREAS, The State of Illinois has defined a special | ||||||
| 11 | classification company as a company that is at least 51% owned | ||||||
| 12 | by a special classification individual or a group of special | ||||||
| 13 | classification individuals and is actually controlled by the | ||||||
| 14 | same special individual or group of individuals; and
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| 15 | WHEREAS, The State of Illinois Central Management | ||||||
| 16 | Services' Business Enterprise Program Council has been charged | ||||||
| 17 | with the task of determining whether a company meets the | ||||||
| 18 | criteria for a special classification; and
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| 19 | WHEREAS, There have been well documented cases of | ||||||
| 20 | fraudulent MBE, WBE, SDVOB, and VOD companies being created; it | ||||||
| 21 | is the responsibility of the Business Enterprise Program to | ||||||
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| 1 | continue to oppose these applications for special | ||||||
| 2 | classification; and
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| 3 | WHEREAS, Small businesses in the present day marketplace | ||||||
| 4 | will often sell equity in their company to investors, such as | ||||||
| 5 | angel investors and venture capitalists, in order to raise | ||||||
| 6 | capital; and
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| 7 | WHEREAS, It is acknowledged that equity investors in | ||||||
| 8 | companies often will have no say in the operation, control, or | ||||||
| 9 | direction of the company; therefore, be it
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| 10 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | ||||||
| 11 | NINETY-EIGHTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 12 | we request that the Central Management Services Business | ||||||
| 13 | Enterprise Program Council includes the equity ownership of | ||||||
| 14 | silent investors of the same special classification in the | ||||||
| 15 | calculations of the majority ownership of a company; and be it | ||||||
| 16 | further
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| 17 | RESOLVED, That we request that the Central Management | ||||||
| 18 | Services Business Enterprise Program Council include silent | ||||||
| 19 | investor equity when calculating control of a company when the | ||||||
| 20 | silent investors have given controlling authority to one or | ||||||
| 21 | more persons of that classification; and be it further
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| 1 | RESOLVED, That a suitable copy of this resolution be | ||||||
| 2 | delivered to the Central Management Services Business | ||||||
| 3 | Enterprise Program Council.
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