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Hastings works to create new Illinois jobs

Published: Wednesday, October 25, 2017 03:40 PM

hastings 012617SPRINGFIELD- Illinois startups may soon have a new tax credit available, thanks to State Senator Michael E. Hastings (D-Tinley Park).

Hastings joined the Illinois State Senate in voting to override the governor’s veto of Senate Bill 1462, which creates a new tax credit to reimburse new startup businesses for state fees associated with forming a new business in Illinois.

“The investments we make in small businesses spur economic development and new jobs for our communities,” Hastings said. “Our communities win when small businesses thrive in Illinois.”

The tax credit will reimburse beginning entrepreneurs who are forming new businesses in the information service, biotechnology and green technology business sectors for state fees associated with starting a new business in Illinois.

The Department of Commerce and Economic Development will administer the program. The program is capped at a total of $500,000 in reimbursements. 

Hastings was shocked by Governor Rauner’s veto of legislation that may help build Illinois’ economy.

“I was surprised the self-described ‘business governor’ did not embrace new legislation to enhance Illinois’ economy and encourage new residents to invest in our communities,” Hastings said. “Growing our economy is not a partisan issue. It is our responsibility to work together to create new jobs and encourage entrepreneurs to choose Illinois as their home.”

Hastings says the Department of Commerce and Economic Development will evaluate the program’s effectiveness and report back to the General Assembly and governor to ensure the tax credit is achieving its goal.  At that time the General Assembly can work together to enhance and change the tax credit to make sure it is meeting the needs of local residents.

Senate Bill 1462 passed the Senate and now heads to the House for consideration.

Link measure gives ex-offenders a second chance at success

Published: Wednesday, October 25, 2017 03:38 PM

link 022817 314SPRINGFIELD – Waukegan School Board Member and former Township Trustee Jeff McBride was the top vote-getter in his school board race in April, but now his eligibility is being challenged because of a crime he committed nearly four decades ago.

In 1980, Jeff McBride made a mistake. He was battling drug addiction and stole a Cool Tote Air Conditioner from a J.C. Penney store. McBride was charged with felony theft and was sentenced to probation and court-ordered addiction treatment.

Scott Bennett fights for student debt relief

Published: Wednesday, October 25, 2017 03:34 PM

bennett 052517SPRINGFIELD -- State Senator Scott Bennett (D-Champaign) voted today to protect Illinois college students from crushing college debt.

The Illinois Senate voted to override Governor Rauner’s veto of Senate Bill 1351, which creates the Student Loan Bill of Rights and prohibits predatory loan servicers from engaging in any unfair or deceptive practices towards any students and parents.

“At a time where many young people are graduating from college with crippling debt, we need to make sure that students understand their rights and have access to proper resources,” Bennett said. “This legislation is a good first step to take in helping students and their families from falling behind on payments or defaulting on their loans.”

Bennett sponsored the Student Loan Bill of Rights to ensure that students and their families receive clear information about the money they borrow for higher education and how their student loans are serviced.

Over the past decade, student loan debt has doubled to become the largest form of unsecured consumer debt in the country with more than 40 million borrowers owing over $1.4 trillion. Nearly 70 percent of graduates leave college with an average debt burden of $30,000, and one-in-four borrowers are behind on their payments or in default.

Senate Bill 1351 also aims to crack down on the student loan servicing industry that has made it more difficult and more expensive for borrowers to repay their loans.

“Going to college should not be the financial burden that it has become,” Bennett said. “Every student in Illinois should have the opportunity to advance or complete their education without the fear of debilitating debt upon graduation.”

Castro stands up for economic program to help businesses start and stay here

Published: Wednesday, October 25, 2017 03:31 PM

castro 050417SPRINGFIELD – Senator Cristina Castro (D-Elgin) worked with the Illinois State Senate to override the governor’s veto on Senate Bill 1462 to bring a new economic development program to Illinois. 

Senate Bill 1462 would create an Entrepreneur Learner's Permit pilot program to encourage and assist beginning entrepreneurs in certain business sectors by reimbursing them for state fees associated with forming a business.

“It’s important to utilize this opportunity to help entrepreneurs start their businesses here in our state and stay here,” said Castro. “I am excited to continue fighting for economic development opportunities like this to make our state a better place to do business.”

Currently, entrepreneurs must pay several fees for licenses and permits.  Senate Bill 1462 allows for reimbursement of those fees in hopes of making it easier to start a new business in Illinois. It reimburses state fees for first-time business owners of information services, biotechnology and green technology businesses.

“Governor Rauner is a business man, but he is struggling to recognize the importance of new jobs,” said Castro. “Information Service, biotechnology and innovative green industries are the jobs of our future.  It’s important we work together to embrace these industries and modernize Illinois’ economy.”

Senate Bill 1462 was overridden by the Senate with bipartisan support and moves to the House for reconsideration.

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