IL SB2491

Creates a disadvantaged business revolving loan program administered by the Department of Transportation to provide low-interest loans to minority-owned, female-owned, and disadvantaged business enterprises for transportation construction contracts.

Establishes the Working Capital Revolving Loan Fund as a special state treasury fund, with loan repayments and appropriations deposited back into the fund to support ongoing lending.

Permits transfers of up to $3,000,000 per fiscal year from the Road Fund to the Working Capital Revolving Loan Fund for 10 years, with no transfers allowed if the fund balance reaches $6,000,000 or more.

Requires loan funds to be held in escrow accounts managed by a Fund Control Agent who verifies payments and authorizes disbursements to subcontractors and material suppliers.

Limits loan repayment terms to one year after project completion and prohibits use of funds for refinancing debt, non-current taxes, or payments to owners; program authority expires June 1, 2022, with remaining funds transferred to the Road Fund by January 1, 2023.