IL HB4955

Creates the Employee Ownership Development Act, establishing an Employee Ownership Development Account within the State Treasurer's investment portfolio to provide capital for employee ownership projects in Illinois

Limits the Account to no more than 5% of the State Treasurer's investment portfolio, with investments directed toward employee stock ownership plans, worker cooperatives, and employee ownership trusts

Requires recipient funds to invest a minimum of 1.5 times the capital received from the State in employee ownership projects, with no more than 15% invested in out-of-state firms lacking an Illinois project pipeline

Establishes the Employee Ownership Development Fund as a non-appropriated trust fund to receive earnings and pay program expenses including consulting, due diligence, and monitoring costs

Mandates annual reporting to the General Assembly on total investments, number of projects financed, geographic distribution, workers who became employee-owners, and financial performance