Governor Pat Quinn today issued the following statement regarding Senate passage of House Bill 3267, which gives Disadvantaged Business Enterprises (DBE's) throughout Illinois the opportunity to receive loan assistance from the Illinois Department of Transportation. The legislation was proposed by the Quinn Administration, and sponsored by Senator Mattie Hunter and Representatives Will Davis and La Shawn Ford:
"I am pleased that the House and Senate passed this measure that provides a more level playing field for ready and willing firms to participate on state construction projects," Governor Quinn said. "This legislation will support jobs and encourage business growth in Illinois. We are committed to helping disadvantaged business enterprises build capacity and compete for economic opportunities."
HB 3267 creates the Disadvantaged Business Revolving Loan and Grant Program. Many DBEs cannot obtain the financing necessary to buy equipment or obtain insurance to participate in state construction projects. The state's interest is protected because the line of credit authorized under the legislation must be repaid before the DBE can receive any profit from the project. The legislation was supported by the Illinois Road and Transit Builders; Laborers' Midwest Region, Local 150; and the Indiana, Illinois, Iowa Foundation for Fair Contracting. There was no committee opposition.