Pritzker Signs Economic Equity Package

Gov. J.B. Pritzker signed a package of four bills Tuesday that made up the “economic access, equity and opportunity” pillar of the Illinois Legislative Black Caucus.

Speaking at a bill-signing ceremony at the Union Baptist Church in Springfield, Pritzker said the legislative package would go a long way toward addressing the harms caused by “systemic racism” that has prevented people of color from gaining full access to jobs, housing, state contracting and credit

“Together these four bills mark significant progress in our efforts to close the racial gaps and eliminate barriers that have for too long unfairly held Black and brown Illinoisans back,” he said. {snip}

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{snip} Among them was Senate Bill 1480, which restricts the ability of employers to use a person’s criminal history in making hiring decisions.

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Also included in the package was Senate Bill 1608, which raises the goal for state contracting with minority-owned businesses to 30%, instead of 20%. It also establishes a new Commission on Equity and Inclusion within the Department of Central Management Services, to monitor and make recommendations for enforcing diversity requirements in state contracting.

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The new law also creates the Illinois Community Reinvestment Act, which sets new standards for the Illinois Department of Financial and Professional Regulation to examine low- and moderate-income lending by state-chartered banks, credit unions and non-bank mortgage lenders.

Another bill that was part of the package was Senate Bill 1792, which, among other things, caps the effective interest rate lenders can charge on payday loans and other small-dollar consumer loans at 36%, the same limit that applies under federal law to loans made to active duty service members.

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The final bill in the package was Senate Bill 1980, which prohibits public housing authorities from considering a person’s criminal history when deciding whether to rent or lease a housing unit to an applicant, unless it’s required by federal law.

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