IL HB1227

Requires contractors bidding on Illinois state contracts to submit affidavits disclosing any historical participation in slaveholding or the slave trade by the company or its predecessor entities, parent companies, or subsidiaries during the enslavement era (early 1600s through 1865)

Creates the Redress Fund in the State treasury, funded by contributions from contractors found to have participated in slavery-related activities, with money to be used for educational support and economic development in areas affected by Jim Crow policies and redlining

Mandates the Illinois Office of Equity to appoint an Administrator who will review disclosures, publish public reports within 90 days, and hold public hearings where contractor representatives must answer questions from officials and the public

Establishes enforcement mechanisms including debarment from current bids and contract termination for contractors who fail to submit required affidavits, submit false statements, or fail to contribute to the Redress Fund within specified timeframes

Requires all disclosure information, reports, and public hearing recordings to be accessible through an "Enslavement Disclosure and Redress" link on the State of Illinois website, with hard copies maintained at University of Illinois campus libraries