Economic Opportunity and Equity

SJR 16, titled "SMES/MSMES-YOUTH," is a legislative measure that encourages young people to consider career opportunities within the small to mid-sized manufacturing sector.

Reaffirms a dedication to supporting the efforts of small and midsize manufacturers across Illinois. Urges the small and the midsize manufacturing industries and other relevant stakeholders to form a task force to develop meaningful recommendations for addressing the needs of small and midsize manufacturers in Illinois. Reaffirms a commitment to championing initiatives that ensure the success of small and midsize manufacturers in Illinois.

Amends the Illinois Economic Opportunity Act. Provides that a Community Action Board shall consist of no less than 9 members (rather than 15 members) and no more than 51 members. Makes other changes.

Amends the Data Governance and Organization to Support Equity and Racial Justice Act. Provides that, when the State Board of Education and specified Departments report demographic data, they shall use the same classifications as the Governor's Office of Equity, or other classifications as designated by the Governor, to develop a common set of racial and ethnic classifications for use by the Board and Department. Provides that the demographic classifications established shall be reviewed and updated as necessary every 5 years. Provides for exemptions from this reporting requirement. Provides that the Governor's Office of Equity shall establish a project implementation team to oversee the implementation of the Act. Provides that the Governor's Office of Equity or other entity as the Governor may designate shall work in conjunction with the Department of Innovation and Technology to identify and provide advice on common technological processes and procedures. Makes other changes.

Amends the Illinois Community Reinvestment Act. Provides that the Secretary of Financial and Professional Regulation shall retain qualified persons to design and conduct one or more disparity studies to prepare and report findings and conclusions to the Secretary to: (1) identify and delineate geographies in Illinois exhibiting significant disparities by protected characteristics with respect to: access to financial products or services, including, but not limited to, physical branches of covered financial institutions; and lending and investments by covered financial institutions; and (2) identify policies, procedures, patterns, or practices that have or may have disparate impact or discriminatory effects. Provides that the Secretary shall implement the findings, conclusions, and other results from the study into the examination process as detailed in rule. Provides that the Secretary shall update the disparity studies at least every 4 years, but may require it to be updated more frequently at the Secretary's discretion. Provides that the Secretary may use specified fees to pay for the disparity studies, as necessary. Defines the term "protected characteristic". Effective immediately.