IL SB2946

Removes the 10% cap on State Treasurer investments in any single Illinois venture capital fund created under the Technology Development Act.

Allows distributions from TDA II-Recipient Funds (up to the commitment amount and total distributions received) to be reinvested without counting against the 5% portfolio cap.

Expands the definition of "technology business" to include incubators, accelerators, innovation research, technology transfer, and educational programs providing training and support to entrepreneurs.

Authorizes the Technology Development Fund to provide grants to technology businesses to foster, accelerate, and scale technology innovation in Illinois, in addition to existing grants for school computer purchases.

Takes effect immediately upon becoming law.