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20 ILCS 3965/ Illinois Economic Development Board Act.

(20 ILCS 3965/0.01) (from Ch. 127, par. 3950)     Sec. 0.01. Short title. This Act may be cited as the Illinois Economic Development Board Act. (Source: P.A. 86‑1475.)

(20 ILCS 3965/1) (from Ch. 127, par. 3951)     Sec. 1. The General Assembly finds that the Illinois economy, although diversifying, is shifting to a service‑based economy and is still highly vulnerable to fluctuations in the national economy. Illinois' long‑term economic development policy and current efforts to respond to an increasingly global economy would benefit from formal private sector analysis and input.     An essential first step to assist the Illinois economy in responding to changing global economic trends is to establish a public and private consensus on a long‑term economic development strategy that recognizes both the competitive position and needs of our key businesses and industries and the need to establish new businesses and industries. A unique partnership between the private and public sectors can attract new businesses and encourage greater investment in Illinois. (Source: P.A. 86‑1430.)

    (20 ILCS 3965/2)(from Ch. 127, par. 3952)
    Sec. 2. The Illinois Economic Development Board, referred to in this Act as the board, is hereby created within the Department of Commerce and Economic Opportunity. The board is charged with the responsibility of assisting the Department with creating a long‑term economic development strategy for the State, designed to spur economic growth, enhance opportunities for core Illinois industries, encourage new job creation and investment, that is consistent with the preservation of the State's quality of life and environment.
(Source: P.A. 94‑793, eff. 5‑19‑06.)

    (20 ILCS 3965/3)(from Ch. 127, par. 3953)
    Sec. 3. The board shall be composed of citizens from both the private and public sectors who are actively engaged in organizations and businesses that support economic expansion, industry enhancement and job creation. The board shall be composed of the following persons:
        (a) the Governor or his or her designee;
        (b) four members of the General Assembly, one each

appointed by the President of the Senate, the Speaker of the House of Representatives, and the minority leaders of the Senate and House of Representatives;

(c) 20 members appointed by the Governor including

representatives of small business, minority owned companies, women owned companies, manufacturing, economic development professionals, and citizens at large.

(d) (blank);         (e) (blank);         (f) (blank);         (g) (blank);         (h) (blank);         (i) (blank);         (j) (blank);         (k) (blank);         (l) (blank);         (m) (blank).     The Director of Commerce and Economic Opportunity shall serve as an ex officio member of the board.     The Governor shall appoint the members of the board specified in subsection (c) of this Section, subject to the advice and consent of the Senate, within 30 days after the effective date of this Act. The first meeting of the board shall occur within 60 days after the effective date of this Act.     The Governor shall appoint a chairperson and a vice chairperson of the board. Members shall serve 2‑year terms. The position of a legislative member shall become vacant if the member ceases to be a member of the General Assembly. A vacancy in a board position shall be filled by the original appointing authority.     The board shall include representation from each of the State's geographic areas.     The board shall meet quarterly or at the call of the chair and shall create subcommittees as needed to deal with specific issues and concerns. Members shall serve without compensation but may be reimbursed for expenses. (Source: P.A. 94‑793, eff. 5‑19‑06; 95‑331, eff. 8‑21‑07.)

(20 ILCS 3965/4) (from Ch. 127, par. 3954)     Sec. 4. The board has the following responsibilities and powers:     (a) to secure and encourage substantial private sector, community and citizen support in the analysis of economic development opportunities and development of specific recommendations for economic growth;     (b) to assist the Department's research efforts to identify and analyze key businesses and industries to determine their potential for expansion, diversification and production of value‑added goods;     (c) to propose an appropriate State role in new product development, venture capital formation and research and development;     (d) to evaluate the performance of existing State economic development efforts for consistency, effectiveness and coordination, as well as for their effect on job creation, and to evaluate the long‑term benefits to the State of these efforts;     (e) to propose, along with other State, local and private groups, new methods to increase public and private partnerships to foster economic development efforts;     (f) assist the Department's efforts to develop a long‑term economic development strategy based on consensus goals and principles, an in‑depth analysis of market opportunities, private sector support and investment, and specific private and public economic development measures that have a substantial potential to increase employment;     (g) assist the Department's efforts to study the key components of the State's business climate as they relate to the long‑term development strategy including, but not limited to, education and training, energy, existing environmental conditions, research and development, capital, land, transportation, advanced communications, taxes and regulations with an analysis of their linkages to the State's economy;     (h) to review the various economic development policy recommendations made by other agencies or organizations and recommend to the Governor and legislature those strategies, policies and programs it deems to be in the best interest of the State by January 1, 1991, and thereafter by January 1 of each year; and     (i) to make specific recommendations for the establishment of public‑private cooperative efforts in economic development and State‑local cooperative efforts, including, but not limited to, the need for establishing formal working relationships, whether by contract or otherwise, for purposes of engaging in joint, cooperative economic development activities. (Source: P.A. 86‑1430.)

    (20 ILCS 3965/4.5)
    Sec. 4.5. Additional duties. In addition to those duties granted under Section 4, the Illinois Economic Development Board shall:
        (1) Establish a Business Investment Location

Development Committee for the purpose of making recommendations for designated economic development projects. At the request of the Board, the Director of Commerce and Economic Opportunity or his or her designee; the Director of the Governor's Office of Management and Budget, or his or her designee; the Director of Revenue, or his or her designee; the Director of Employment Security, or his or her designee; and an elected official of the affected locality, such as the chair of the county board or the mayor, may serve as members of the Committee to assist with its analysis and deliberations.

(2) Establish a Business Regulatory Review Committee

to generate private sector analysis, input, and guidance on methods of regulatory assistance and review. At the determination of the Board, individual small business owners and operators; national, State, and regional organizations representative of small firms; and representatives of existing State or regional councils of business may be designated as members of this Business Regulatory Review Committee.

(Source: P.A. 94‑793, eff. 5‑19‑06.)

(20 ILCS 3965/5) (from Ch. 127, par. 3955)     Sec. 5. The Department's Economic Development and Research staffs will assist the board in its functions as it deems necessary in order to carry out its duties and responsibilities. (Source: P.A. 86‑1430.)

(20 ILCS 3965/6) (from Ch. 127, par. 3956)     Sec. 6. This Act shall take effect January 1, 1990. (Source: P.A. 86‑1430.)