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Giannoulias Wants Tech Jobs Bill Passed
State Treasurer Alexi Giannoulias is calling on the Illinois House to pass a bill that will help create jobs.

Giannoulias says the Technology Development Account would also help small tech businesses expand. He's pushing the House to pass a Senate bill that would replenish funds in that account.

The TDA allows the treasurer to invest in Illinois venture capital firms that use the funds to attract, assist or retain technology businesses in the state.

Giannoulias says in some cases, with borrowing from traditional institutions in today's economy limited, the TDA is the only option for entrepreneurs looking to start a small business.


The TDA was funded by the General Assembly in 2004 with an initial allocation of $50 million. The account was expanded to $75 million in 2006 and only $6.5 million remains in that account. Funds come from the state investment portfolio rather than general revenue. The Senate bill would allow the treasurer to direct up to 2 percent of the state's investment portfolio to TDA.

The legislation passed unanimously in the Senate but is pending approval in the House.

Giannoulias says his office will be reaching out to House leaders to let them know how important the bill is.
04 15 10 by Newsroom
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