IL HB3267

Creates a disadvantaged business enterprise (DBE) revolving loan and grant program within the Illinois Department of Transportation to provide working capital financing for DBEs participating in DOT construction and construction-related contracts.

Establishes a Working Capital Revolving Loan Fund with up to $3,000,000 in aggregate annual transfers from the Road Fund for 5 years, with a maximum fund balance cap of $6,000,000.

Loans are limited to 55% of the contract value, carry interest, and must be repaid by final DOT payment upon project completion; each DBE may receive a maximum of 3 loans and must fully repay previous loans before obtaining new ones.

Designates a Fund Control Agent to manage loans and verify payments through an escrow account, with authority to intercept contractor payments to deduct unpaid loan repayments before releasing funds to subcontractors.

Program authority expires June 1, 2018, with any remaining fund balance transferred to the Road Fund on January 1, 2019; Department must report annually on program utilization, loan approvals, disbursements, repayments, and borrower delinquencies.