INVEST IL-COUNTRIES OF CONCERN

Illinois General Assembly - Full Text of SB3155

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3155

Introduced 2/2/2026, by Sen. Neil Anderson

SYNOPSIS AS INTRODUCED:

30 ILCS 751/51 new

Amends the Invest in Illinois Act. Provides that no award of economic
incentives may be made under the Act to an entity if (i) the entity is
organized under the laws of or has its principal place of business in a
foreign country of concern or (ii) the government of a foreign country of
concern has a controlling interest in the entity.
LRB104 19268 HLH 32714 b

A BILL FOR

SB3155
LRB104 19268 HLH 32714 b
1

AN ACT concerning finance.

2

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

4

Section 5.
The Invest in Illinois Act is amended by adding
5
Section 51 as follows:

6

(30 ILCS 751/51 new)
7

Sec. 51.
Countries of concern.

8

(a) Notwithstanding any other provision of law, no award
9
of economic incentives may be made under this Act to an entity
10
if (i) the entity is organized under the laws of or has its
11
principal place of business in a foreign country of concern or
12
(ii) the government of a foreign country of concern has a
13
controlling interest in the entity.
14

(b) As used in this Section:

15

"Controlling interest" means possession of the power to
16
direct or cause the direction of the management or policies of
17
a company, whether through ownership of securities, by
18
contract, or otherwise. A person or entity that directly or
19
indirectly has the right to vote 25% or more of the voting
20
interests of the company or is entitled to 25% or more of the
21
company's profits is presumed to possess a controlling
22
interest.

23

"Foreign country of concern" means the People's Republic

SB3155
- 2 -
LRB104 19268 HLH 32714 b
1
of China, the Russian Federation, the Islamic Republic of
2
Iran, the Democratic People's Republic of Korea, the Republic
3
of Cuba, Venezuela, or the Syrian Arab Republic, including any
4
agency of or any other entity of significant control of such
5
foreign country of concern.

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