Kifowit-Sponsored Bill Cutting Fees for Entrepreneurs Advances in House

SPRINGFIELD, Ill. – Entrepreneurs would receive financial assistance in opening their first businesses under legislation being sponsored by state Rep. Stephanie Kifowit, D-Oswego, creating an Entrepreneur Learner’s Permit pilot program.

“Small businesses accounted for 67 percent of new jobs in recent years. When we help small businesses succeed, we are helping our whole economy succeed,” Kifowit said. “The Entrepreneur Learner’s Permit program will give many entrepreneurs in our community the resources they need to open their own business and be successful.”

Kifowit’s Senate Bill 1462 creates a new Entrepreneur Learner’s Permit program to encourage and assist first-time entrepreneurs by reimbursing them for State fees associated with forming a business. Under her measure, applicants would apply for the permit through the Department of Commerce and Economic Development. Currently, entrepreneurs must pay several fees for licensing and permits. The pilot program would run for one year, then DCEO would evaluate the program’s effectiveness and report to the governor and General Assembly by Feb. 1, 2019.

“Cutting fees for first-time business owners is a simple way we can promote economic development and create jobs in our community,” Kifowit said. “This program is one more way we can help lift-up the middle class and lower fees on small businesses.”

Senate Bill 1462 passed the House Economic Opportunity Committee last week and now awaits further consideration on the House floor.