Ill. Admin. Code tit. 92 § 5.10

Current through Register Vol. 48, No. 49, December 6, 2024

Section 5.10 - Program Overview

a) Section 2705-610 of the Department of Transportation Law of the Civil Administrative Code of Illinois (Law) [20 ILCS 2705/2705-610 ] establishes a low-interest loan program for disadvantaged business enterprises (DBEs) certified by the Department for participation on Department-procured construction and construction-related contracts. (Section 2705-610(c) of the Law.) The Department is authorized to provide forassistance to DBEs with project financing costs for those firms that are ready, willing, and able to participate on Departmentconstruction contracts. The Department's disparity study recommends and supports a financing program to address this barrier faced by DBEs. (Section 2705-610(a) of the Law)

b) The funds for this program are appropriated annually by the Illinois General Assembly from the Working Capital Revolving Loan Fund established as a special fund in the State treasury. (Section 2705-610(d) of the Law)

Ill. Admin. Code tit. 92, § 5.10