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Tom Cullerton’s initiative to create new jobs signed into law

tc crowdfundSPRINGFIELD- New businesses struggling to raise money to take their companies to the next level will soon have another method to find funding.  

State Senator Tom Cullerton’s (D-Villa Park) initiative to make Illinois more business-friendly by instituting intrastate crowdfunding exemptions was signed into law today.

“Small businesses are the backbone of our economy. If we want to continue to grow as a state, we need to continue to give small businesses the tools to succeed,” said Cullerton. “This initiative will create a vital partnership between investors and small businesses to spur economic development in our communities.”

Crowdfunding is funding a project or venture by raising many small amounts of money from a large number of people. In exchange for funding, investors receive a small ownership interest in the enterprise.

Cullerton hopes this measure will further encourage local investment and economic development opportunities.

“We need to continue to embrace innovative and fresh business practices to promote job creation in Illinois,” said Cullerton.  “Intrastate crowdfunding gives businesses the resources to find financial support without accumulating loads of debt, while giving the average person an opportunity to invest in companies they support.”

House Bill 3429 creates an Illinois intrastate exemption, which allows Illinois residents to directly invest in Illinois small businesses online.  Currently, 15 states have already passed similar legislation, including neighboring states such as Indiana, Wisconsin and Michigan.

House Bill 3429 was signed into law on July 29 and goes into effect on January 1, 2016

Tom Cullerton meets with area business leaders

tcullerton swd visitADDISON- Since March of 1980, SWD, Inc. has continued to make investments in Addison. The recognized leader in the metal finishing and fastener sorting fields lent their facility for a round-table discussion between state and local leaders, area manufacturers and businesses to discuss how they can work together to expand business opportunities in DuPage County.

State Senator Tom Cullerton (D-Villa Park) recognizes partnerships between businesses and government are essential to growing our economy and creating good-paying jobs.

“Constant communication between all levels of government and business is essential in generating opportunities to expand our economy and promote economic development in our communities,” said Cullerton.

Cullerton, Representative Deb Conroy (D-Villa Park) and Mayor of Addison Rich Veenstra met with representatives from a number of area business leaders including NOW Foods and Walgreens to find ways to keep Illinois competitive.

PHOTO: Dick Delawder, Chairman of SWD Inc.’s Board; Addison Mayor Rich Veenstra; State Representative Deb Conroy (D-Villa Park); Matt Delawder, Sales Manager and Partner of SWD Inc.; Tim Delawder, Vice President of SWD Inc.; State Senator Tom Cullerton (D-Villa Park) and Rick Delawder, President of SWD Inc.

Tom Cullerton pushes for responsible solution

hied-exec-hrngCHICAGO- In light of the continuous news of scandals and misuse of taxpayer dollars on state universities and community college campuses, the Senate’s Subcommittee on Executive Compensation held their first meeting.

State Senator Tom Cullerton (D-Villa Park) grilled College of DuPage witnesses on their efforts to prevent a repeat of abuses of state dollars on their campus.

“We need to take steps to maintain the integrity of our public community colleges and universities. There needs to be reforms to ensure taxpayer dollars are spent wisely and responsibly,” Cullerton said.

Cullerton is committed to reforming abuses at our community colleges and universities to keep institutions credible and costs affordable for students.

Five initiatives were discussed today to protect state dollars at Illinois public universities and community colleges:

Community College Trustee Training (Senate Bill 2157) – requires new college board trustees to complete four hours of professional development training that range from information on labor laws, open meetings act, freedom of information regulations, ethics and financial and accountability oversight.

External Audits (Senate Bill 2155) –amends existing laws to require the Auditor General to audit one-third of all community colleges every year.

Preventing Lame-Duck Decisions (Senate Bill 2158) – prohibits community college boards from entering into a new employee contract or change existing employee contracts 60 days prior to Election Day for trustees and extends through the lame-duck period until the first meeting of the new board.

In 2009, President Breuder’s contract extension was approved by a lame-duck board.

Severance Packages inclusion in Pension Checks (Senate Bill 2156) – Changes the existing pension code to not allow severance payments to be classified as pensionable earnings.

Transparency at Community Colleges and State Universities (Senate Bill 2159) –Promotes transparency by requiring contract terms and annual performance reviews of executives to be made public. This initiative also forbids contract buyouts in cases of pending criminal charges.

“I look forward to working with committee members in instituting safeguards to guarantee these abuses do not occur in the future,” said Cullerton.

Tom Cullerton’s environmentally friendly initiative signed into law

Tom Cullerton's environmentally friendly initiative signed into lawSPRINGFIELD - State agencies will soon be taking steps to become more environmentally friendly.

A new law sponsored by State Senator Tom Cullerton (D-Villa Park) will require state agencies that are responsible for public land to examine policies to see if composting materials would help reduce storm water run-off and improve the quality of the land.

“Composting is an effective method to stop pollution, cut costs and clean up contamination,” said Cullerton. “It’s our duty to continue to look for methods to protect Illinois’ ecosystem. Every small step we take makes a huge difference for generations to come.”

Sen. Tom Cullerton

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23rd Legislative District

Years served: 2013 - Present

Committee assignments: Energy and Public Utilities; Insurance; Labor; State Government; Transportation; Veterans Affairs (Chairperson); Sub. on Utility Rate Regulations (Sub-Chairperson).

Biography: Born Sept. 20, 1969; studied at the University of Kansas; former village president and trustee of Villa Park; married (wife Stacey), three sons.

Associated Representatives:
Deb Conroy
Diane Pappas