Illinois HB5264 establishes a loan program for small businesses negatively impacted by federal immigration enforcement.
HB5264 amends the Department of Commerce and Economic Opportunity Law to create a loan program for small businesses affected by federal immigration enforcement. Eligible businesses must have employed 50 or fewer persons and had gross receipts of $3,000,000 or less in the prior year. The loans, up to $50,000, are intended for recovery-related operating expenses such as rent, wages, inventory restocking, and equipment interest. The Department of Commerce and Economic Opportunity may administer the program directly or through agreements with financial institutions.
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- Legal Framework
- Critical Issues
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