ECONOMIC STABILITY COMMISSION

Illinois General Assembly - Full Text of HB5263

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Full Text of HB5263

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HB5263 - 104th General Assembly

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House Amendment 001

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HB5263 Engrossed
LRB104 18810 SPS 32253 b
1

AN ACT concerning State government.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 1.
Short title.
This Act may be cited as the
5
Economic Stabilization and Resilience Commission Act.

6

Section 5.
Economic Stabilization and Resilience
7
Commission.
8

(a) Subject to appropriation, there is created the
9
Economic Stabilization and Resilience Commission. The purpose
10
of the Commission is to research and recommend strategies to
11
disburse resources to deliver rapid liquidity to businesses
12
affected by immigration enforcement disruptions.
13

(b) The Commission shall be composed of the following
14
members appointed by the Governor:
15

(1) 3 representatives of the State, with expertise in
16

economic development, revenue, or workforce policy;
17

(2) one representative of a municipal government;
18

(3) one representative of a county government;
19

(4) 2 representatives of statewide or regional
20

business advocacy organizations, including chambers of
21

commerce;
22

(5) one representative with expertise in immigration
23

law or immigration policy; and

HB5263 Engrossed
- 2 -
LRB104 18810 SPS 32253 b
1

(6) one representative of a financial institution or
2

lending organization with experience serving small
3

businesses.
4

(c) The chairperson of the Commission shall be elected
5
from the Commission's membership by a simple majority vote of
6
the total membership of the Commission. The vice-chairperson
7
of the Commission shall be elected from the Commission's
8
membership by a simple majority vote of the total membership
9
of the Commission.
10

(d) The Governor shall make the initial appointments to
11
the Commission within 30 days after the effective date of this
12
Act.
13

(e) All members shall be appointed for terms of 3 years. No
14
member shall serve more than 2 consecutive terms. A member
15
shall serve until his or her successor is appointed and
16
qualified.
17

(f) Any vacancies in Commission membership shall be filled
18
in the same manner as initial appointments. Appointments to
19
fill vacancies occurring before the expiration of a term shall
20
be for the remainder of the unexpired term.
21

(g) Total membership of the Commission consists of the
22
number of members serving on the Commission not including any
23
vacant positions. A quorum shall consist of a simple majority
24
of total membership and shall be sufficient to conduct the
25
transaction of business of the Commission, unless stipulated
26
otherwise in the by-laws of the Commission.

HB5263 Engrossed
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LRB104 18810 SPS 32253 b
1

(h) The Department of Commerce and Economic Opportunity
2
shall provide administrative support to the Commission.
3

(i) The Commission shall meet at least quarterly through
4
December 31, 2027 and afterward shall meet at the discretion
5
of the chairperson.

6

Section 10.
Report.
No later than December 31, 2027, the
7
Commission shall create a report and submit it to the Governor
8
and the General Assembly. The report shall include:
9

(1) recommendations to improve coordination and
10

readiness for rapid economic stabilization during
11

localized or regional market disruptions caused by federal
12

policy actions, including recommendations related to the
13

establishment of shared response protocols, roles, and
14

responsibilities among the State government, units of
15

local government, businesses, and community
16

intermediaries;
17

(2) mechanisms for timely information-sharing and
18

outreach to affected businesses;
19

(3) coordination of capital deployment and business
20

assistance through trusted intermediaries; and
21

(4) strategies to ensure that economic stabilization
22

resources reach affected commercial corridors quickly and
23

efficiently during periods of federal immigration
24

enforcement activity.

25

Section 99.
Effective date.
This Act takes effect upon

HB5263 Engrossed
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LRB104 18810 SPS 32253 b
1
becoming law.

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