TDA II legislation passes the Senate for the fourth time; effort now focused in the House

TDA II legislation passes the Senate for the fourth time; effort now focused in the House

March 2, 2011

IVCA is once again working on legislation to continue and expand the successful Technology Development Account (TDA I) approved by the Illinois General Assembly in 2003. The Governor's office has already indicated support of the legislation so we expect his signing the bill into law if it passes the General Assembly.

Senator Dan Kotowski took the initiative early on and introduced SB 107 authorizing TDA II but with a 3% allocation of the Treasurer's investment portfolio rather than the 2% allocation that was previously approved by the Senate. Reasoning that passing the legislation would be streamlined by having the new bill identical to what legislators have seen the last 3 years, IVCA worked closely with the Treasurer's Office and Senator Kotowski to gain agreement on the 2% allocation and the Senator graciously agreed to amend his bill. The bill was amended and heard in the Senate State Government and Veteran's Affairs Committee on February 9 and passed by a vote of 9-0. New State Treasurer Dan Rutherford testified in favor of the bill and IVCA, the Governor's Office, the Treasurer's Office, iBIO and BIO all indicated their support of the bill. SB 107 was then passed by the Senate by a vote of 45 to 3 on February 17th (with additional sponsors Holmes, Duffy, Murphy, Althoff, Noland, Wilhelmi and Dillard).

IVCA worked with the Treasurer's Office to have the bill introduced separately in the House early on by two new legislators in order to start focusing our efforts on House leadership. HB 1381 was introduced on February 9 by freshman Republican Chris Nybo (with freshman Democrat Daniel Biss as the second sponsor along with House Republican Leader Tom Cross). It was then referred to the Executive Committee where it remains. Once SB 107 came over from the Senate it became the primary TDA II bill. Nybo again was the first and chief sponsor along with Tom Cross and two democrats Daniel Biss and Elaine Nekritz. The bill has been referred to Rules. The challenge remains to convince House leadership to move the bill out of Rules and onto the House floor where we believe there is strong support for the program.

Freshmen Biss and Nybo have been working the bill hard - “ gathering information and data from IVCA and its members and becoming very well versed on the program. They have met with House Majority Leader Barbara Flynn Currie once and plan to meet with her again this week and next. We do have an earlier start on House action with the early Senate passage of SB 107. IVCA will continue to work with the bill's chief sponsors to help persuade House leadership to move the bill.