AT THE CAPITOL-
Rooting Out Systemic
Corruption
This year, Senator Kotowski is once again sponsoring the
Public Corruption Profit Forfeiture Act (Senate Bill 2551). Under the terms of this act, public
officials convicted of corruption must surrender all of their profits from
corrupt activity—and their campaign funds—to the state. This money will then be distributed to
various law enforcement agencies to help them recoup their costs from
investigating corruption. Kotowski
is pushing this first-in-the-nation, sweeping measure to assure Illinois
citizens that anyone who breaches the public trust will suffer severe penalties. It has already passed the Senate
Criminal Law Committee and will soon be voted on by the full Senate.
“We need to send a message, once and
for all, that the people of Illinois will not tolerate corrupt public
officials,” Kotowski said. “People
should be able to trust their elected representatives, and anyone who abuses
that sacred trust should have to suffer the consequences.”
Restoring the Economy
and Putting People to Work
On February 4th, Senator Kotowski convened a
special hearing of the Senate Commerce Committee to highlight the benefits of
venture capital and private equity investing in start-up and existing Illinois
companies. The goal of the hearing
was to emphasize how the state can partner with private companies to create and
protect existing jobs.
Venture capital investment is when a company or
individual—or in this case the State of Illinois—invests in promising start-up
companies. At the hearing, the senators heard from many successful businesses
that have benefited from state investment.
According to Kotowski, Illinois should put more of its
investment money into venture capital for two reasons. First, the state receives a good return
on its investment. Second, supporting
Illinois start-up companies contributes to job growth and economic
development. Kotowski cited Illinois’
last investment in venture capital—the Technology Development Account (TDA)—as
a good example. By matching public
and private investments in high-growth-potential Illinois businesses, the State
government attracted $540 million dollars for 34 in-state companies. These investments have created more
than 3,800 jobs.
“Encouraging the development of innovative Illinois-based
businesses should be one of the state’s primary goals,” Kotowski said. “These businesses create high-paying,
long-lasting jobs. They also help
support a healthy Illinois economy, improving the quality of life for
everyone.”
This year, Kotowski is sponsoring or co-sponsoring several
measures to keep and create jobs:
Senate
Bill 3655 creates a second TDA account to encourage increased investment in Illinois
start-up businesses. Since the
treasurer would already be investing this money in other funds, this initiative
involves no new state spending.
Senate Bill 3654 creates Emerging Technology grants for companies developing
the cutting edge of technology and offers tax incentives to investors.
Senate Bill 2534 raises the limit on the state’s New Markets Development Tax
Credit program. This program
provides time-spaced tax credits to companies in economically depressed areas
so that the state does not bear any financial burden until after the businesses
have established themselves.
AT HOME-
Focusing on Park
Ridge
Senator Kotowski has worked with the Illinois Department of
Transportation (IDOT), the governor’s office, local mayors and others to secure
$2.3 million for road repairs and enhancements in the 33rd District. This month, Kotowski would like to
highlight state funds that will be received by Park Ridge. For example, the state will provide
funding for emergency repairs to Main Street, valued at $400,000 to fix
potholes and repair road surfaces.
He also advocated for a $320,000 Illinois Transportation Enhancement
Program Grant to upgrade portions of Uptown, Touhy Avenue, and Northwest
Highway. This money will help
local businesses enhance the value of the community by making the downtown area
more attractive and accessible.
“I am doing everything in my power to ensure that the 33rd
District is receiving its fair share of state road repair funding,” Kotowski
said. “Improving downtown Park
Ridge will bring businesses more customers and provide a more welcoming
environment for families to shop and buy goods.”
There
are several months of session yet to go, and I’m sure that we will consider
many important issues. I will do
my best to keep you updated, and I always welcome your input.
Best Wishes,
Dan Kotowski,
State Senator, 33rd District
