SB2198 aims to enhance opportunities for small businesses in Illinois by creating a financing program and set-asides for state contracts.
SB2198 establishes a small business financing program to provide low-interest financing to small businesses that secure state contracts. It also mandates that a fair proportion of construction, supply, and service contracts be designated as small business set-asides. The bill requires the Department of Commerce and Economic Opportunity to create this financing program, subject to appropriation. Additionally, it tasks the Department of Central Management Services with developing a scorecard for assessing bids from businesses with annual gross sales under $15,000,000.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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