IL SB3725

Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act to allow private sponsorship funding for the University of Illinois System Diverse Supplier Development Program (DSDP) to count toward state contract diversity goals

Sponsorship dollars must be distributed directly and evenly to DSDP graduates upon program completion as business advancement funding, with no administrative fees deducted

DSDP graduates must hold certification in good standing with both the Business Enterprise Program and the Illinois Commission on Equity and Inclusion to receive funds

Sponsors seeking goal credit must have already met their existing contract diversity goals or obtained an approved waiver, and cannot count sponsorship dollars toward multiple contracts

DSDP must submit an annual report to the Commission on Equity and Inclusion by January 1 detailing sponsorship amounts, contributing entities, and funding distributed to graduates