SB3155

Illinois SB3155 prohibits economic incentives for entities linked to countries of concern.

Illinois SB3155 amends the Invest in Illinois Act to prevent the awarding of economic incentives to entities organized under the laws of or with principal business in countries of concern. These include China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. Additionally, it blocks incentives for entities where a government of these countries holds a controlling interest. A controlling interest is defined as the power to direct management or policies, whether through ownership, contract, or other means.