IVCA Provides Updates for State Legislative Issues - 05/25/22

Illinois Venture Capital Association Illinois Legislative Report
David Stricklin / Stricklin & Associates
Wednesday, May 25, 2022

IVCA BILL AWAITS GOV SIGNATURE
 
The IVCA bill to improve the Technology Development Account/Illinois Growth and Innovation Fund run by the Illinois Treasurer is nearing the deadline for action by the governor. SB 3777 was approved unanimously by the Illinois Senate and House. It was sent to Governor Pritzker on 4/29/22. The governor has 60 days from the time a bill is sent to his desk to act upon it. If no action is taken, it becomes law. The IVCA is in touch with the governor’s office, and we are not aware of any issues or objections to the bill. Often the governor uses a Friday afternoon to sign a host of bills which are relatively routine in nature or do not rise to the level of being part of a signing ceremony. We will keep you posted!
SB 3777 
TEXAS TRAGEDY/ILLINOIS POLICY
 
As the tragedy in Uvalde, Texas was unfolding yesterday candidates for the Republican nomination for governor were participating in a scheduled debate:
Republican candidates on crime, gunsillinois-republican-governor-candidates-debate-bailey-sullivan-rabine 
CENSUS REVISION ON ILLINOIS POPULATION
 
Revised number from the U.S. Census department say Illinois gained about 250,000 residents between 2010 and 2020. 250k+ 
Population trends are often cited as “proof” that one policy or another is positive or negative, especially taxes and economic policy.
crunching the numbers 
Buckley said any claim that residents are flocking in or out of Illinois based on a particular administration or policy is “balderdash.”
“The Midwest as a whole is not growing as fast as the Sunbelt. And so unless either the Democrats or the independents can do something about preventing the next polar vortex, I have a real strong suspicion that these claims of ‘we’re doing it right so people are moving in, we’re doing it wrong so people are moving out’ are quite overblown,” Buckley said.
The revised numbers are unlikely to settle that argument, though the state may be able to argue for additional federal resources to account for the increased population.
 
FEDERAL PROSECUTORS FURTHER DETAIL MADIGAN CASE
 
FEDS PURUSE FORMER SPEAKER 
OPINION