IL HB1775

Creates the Black Wall Street Program administered by the Department of Commerce and Economic Opportunity to provide $5,000,000 loans to municipalities with at least 70% African American population for establishing Black Wall Street Business Districts

Designates 8 municipalities to receive loans in the program's first year: Harvey, Dolton, Calumet City, Ford Heights, Chicago Heights, Peoria, East St. Louis, and Chicago's Westside; limits new selections to 10 municipalities per year thereafter

Requires participating municipalities to pass an ordinance declaring intent to create a Business District and establish a Black Wall Street Investment Board to administer loan funds disbursed to African American business entities and individuals

Establishes a Black Wall Street Investment Hub to provide microloans, business plan support, and training in business development, marketing, customer service, and advertising to African American entrepreneurs

Creates the Black Wall Street Fund in the State treasury and requires the Department to maintain a public database of qualified African American contractors and engineers