Illinois SB2982 allocates $700,000 for employee ownership education and support for small businesses.
Illinois SB2982 appropriates $700,000 from the General Revenue Fund to the Department of Commerce and Economic Opportunity. The funds are designated for a grant to the Illinois Center for Employee Ownership. This grant aims to expand education, outreach, and technical assistance related to employee ownership transitions. It also supports small businesses in evaluating and pursuing succession through employee ownership. Effective July 1, 2026.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.