Illinois HB 1775: EDUCATION-TECH

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB1775

Introduced 1/28/2025, by Rep. Thaddeus Jones 

SYNOPSIS AS INTRODUCED:

New Act

30 ILCS 105/5.1030 new

 Creates the Black Wall Street Program Act. Requires the Department of Commerce and Economic Opportunity to create and administer the Black Wall Street Program to provide loans and financial assistance to designated communities for the creation of Black Wall Street Business Districts. Specifies further requirements concerning Program eligibility and the disbursement of loan funds under the Program. Requires each municipality receiving a loan under the Program to establish a municipal investment program by which loan funds are disbursed to qualified African American business entities and persons for the purpose of establishing Black Wall Street Business Districts. Allows for the use of loan funds to invest in, issue, or sell bonds for the purpose of the construction of Black Wall Street Business Districts and all related matters. Requires the Department to compile and make available to the public a database of qualified African American contractors and engineers. Requires the Department to create and administer a Black Wall Street Investment Hub for the purposes of providing specified assistance to African American business entities and persons in establishing Black Wall Street businesses. Provides for the adoption of administrative rules. Creates the Black Wall Street Fund as a special fund in the State treasury for specified purposes. Defines terms. Makes conforming changes.

LRB104 09397 HLH 19456 b

A BILL FOR

HB1775LRB104 09397 HLH 19456 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the Gener