Latest News

Illinois State Treasurer Frerichs has launched the Illinois Growth and Innovation Fund (IGIF) 
In 2002 and 2011 the General Assembly passed legislation to allow the Treasurer's office to segregate up to 2% of the State’s investment portfolio in order to invest in venture capital firms located in Illinois and creating the Technology Development Act. The goal was to invest in technology businesses seeking to locate, expand or remain in Illinois.Investments made by the office have earned 27.8 million dollars and created an estimated 3,900 direct and indirect jobs. 

Through the newly created IGIF, the office will invest $222 million dollars from the State's investment portfolio in venture capital firms with a history of investing in Illinois technology companies expecting to create thousands of jobs. 

Illinois entrepreneurs can connect to technology funds by submitting their pitch books and investment proposals for review and evaluation at www.ilgif.com. Entrepreneurs will also find a number of helpful links on this website designed to expand their resource network.  
Grants are a form of financial federal assistance and are used to support critical recovery initiatives, innovative research, and many other programs to carry out a public purpose of support or stimulation. They are given out by various government agencies as authorized by law. Government organizations, educational organizations, non profit organizations, businesses, and even individuals may apply for grants. The following grants are open for application in May:

Observations and comments about state government by State Representative Robert W. Pritchard.
District Office 815-748-3494 or E-Mail to bob@pritchardstaterep.com
April 25, 2016

In This Issue:
Ø  Stop Gap Funding Breaks Gridlock
Ø  Department of Revenue Misclassifies Revenue
Ø  Several Constitutional Amendments Proposed
Ø  Many Bills Passed by Friday Deadline

Stop Gap Funding Breaks Gridlock
The gridlock over a FY2016 budget may be breaking.  Partial funding for higher education and a similar proposal for human service providers received legislative support last week.  SB2059 providing about $600 million in stop gap funding for higher education was approved last week by both chambers and signed by the Governor.  Comptroller Munger indicates she will process checks immediately for colleges, universities, MAP grants for students and funding for the Math and Science Academy (IMSA). 
The Senate approved a bill to provide about $400 million for human service programs and House members will meet this week to finalize the bipartisan agreement.
NIU Student Senators add their voices to Higher Education Lobby Day

The House today passed a fully funded bipartisan, compromise bill that allocates $600 million from the Educational Assistance Fund to provide stopgap funding for universities and community colleges, and to fund one semester of MAP grants for students.

"Senate Bill 2059 will use available revenue, not IOUs, to provide a lifeline to our struggling higher education institutions and the MAP program. Unlike past bills, this legislation is fully funded, meaning schools will get the money they need in the next few weeks. I'm incredibly pleased that this deal was reached and our students can make decisions about their educational futures with greater confidence. However, a lot of work remains to be done. This bipartisan, compromise effort is a good start and should be the template moving forward to find solutions for our deteriorating human services and a full budget."

Shortly after passage in the House, the Senate unanimously approved the bill. It will be sent to the Governor, where it is expected to be signed immediately.
Springfield, IL… Nearly a thousand college students who descended upon the capital today to advocate for higher education funding heard some promising news from legislators.  Representative Bob Pritchard (R-Sycamore) told the group that several bills are being negotiated for a stop-gap funding measure this week. Higher Education funding, including Monetary Assistance for low-income students, has been denied for over 10 months. Demonstrators lobbied legislators to shine a light on the damage the lack of a budget is having on education in Illinois.


Observations and comments about state government by State Representative Robert W. Pritchard.
District Office 815-748-3494 or E-Mail to bob@pritchardstaterep.com 
April 18, 2016
In This Issue:
  Ø  Budget Talks Commence
  Ø  Legislation Moves Forward
  Ø  Educating about the Profit Margins of Retailers
  Ø  Advocating for Adequate Education Funding
  Ø  Citizens Press Views on Issues

Budget Talks Commence
Despite the continued rhetoric of the Governor and Speaker of the House, there appears to be movement toward funding the rest of the 2016 budget.  Legislative leaders including Speaker Madigan met briefly with the Governor on Tuesday amid growing pressure from legislators for a solution.  Legislative budget staff and a few legislators are meeting to work out details.
In what some describe as a defensive move to criticism about inaction on a budget, Speaker Madigan took to the House floor Tuesday to give nearly a 10 minute prepared speech saying he has worked with 6 different governors over his 32 years as Speaker and is willing to work with Governor Rauner.  Nevertheless, Madigan also introduced yet another partisan spending bill, SB2046, to authorize $3.89 billion without any way to pay for it.  It was approved by the Senate and sent to the Governor.
To the Editor,

It was an idea heard in coffee shops around the state: “stop paying legislators.” Comptroller Leslie Munger must have heard the suggestion because over the weekend she announced that legislators will have to wait to be paid just like the state is making other providers wait.  I applaud the actions of the Comptroller and hope this will give the needed push for the legislature to pass a FY2016 budget.