IL HB1957

Creates Illinois Institute for Entrepreneurship Education within Chicago State University effective January 1, 2012, with a 15-member board representing education, commerce, industry, government, and labor.

Board members include 2 Governor appointees (one minority/female), appointees from Senate President, Senate Minority Leader, House Speaker, House Minority Leader, Chicago State University, Board of Higher Education, State Board of Education, Department of Commerce and Economic Opportunity, Illinois Economics America chapter, and 3 business owner-entrepreneurs elected by majority vote of other 12 members.

Institute purposes include fostering entrepreneurship education growth, improving teacher preparation, developing innovative education materials, promoting business-education partnerships, and coordinating public and private sector efforts toward entrepreneurship education goals.

Institute granted powers to employ executive director and staff, own property, expend and receive funds, enter agreements with public and private entities, and request cooperation from State departments and agencies.

Abolishes prior Illinois Institute for Entrepreneurship Education at Illinois State University on January 1, 2012, transferring all its property, records, and assets to the new Chicago State University Institute; original Institute section repealed January 31, 2012.