IL HB5198

Requires the Department of Commerce and Economic Opportunity (DCEO) to establish entrepreneurship assistance centers at career education agencies and nonprofit organizations, subject to appropriation

Centers will train minority group members, women, individuals with disabilities, dislocated workers, and veterans in entrepreneurship principles to prepare them for self-employment and starting minority or women-owned businesses

Services provided must include orientation and screening, business concept analysis, market analysis, management counseling, business and financial planning assistance, and referrals to financing sources and incubator facilities

Each center must be incorporated as a nonprofit, operated by a board representing business, education, finance, and government leaders, and establish an advisory group with at least half representing the clientele served

DCEO must submit annual reports to the Governor and General Assembly beginning January 1, 2022, evaluating center performance including demographics served, coordination with other programs, funding leveraged, and number of new business start-ups