IL HJR0106

Requests that the Central Management Services Business Enterprise Council include equity ownership held by silent investors of the same special classification when calculating majority ownership for MBE, WBE, VOB, and SDVOB companies.

Directs the Business Enterprise Council to count silent investor equity toward company control calculations when those investors have granted controlling authority to persons of the relevant special classification.

Acknowledges that small businesses commonly raise capital by selling equity to angel investors and venture capitalists who typically have no role in company operations or control.

Addresses concerns about fraudulent applications for special classification designations by ensuring proper calculations of ownership and control.