U OF I-INTELLECTUAL PROPERTY Senate SponsorsSen. Chapin Rose House Sponsors(Rep. Jay Hoffman) 1/9/2019SenateSession Sine Die 110 ILCS 305/100 newAmends the University of Illinois Act. Provides that notwithstanding any other provisions of law, the University may form one or more limited liability companies to own any current or future intellectual property attributable to the University pursuant to the Limited Liability Company Act. Requires the State to maintain a 51% ownership interest in any limited liability company formed. Allows the intellectual property to be held as a tenancy-in-common with all entities that hold an ownership interest in a company. Requires the payment of distributions. 2/16/2018SenateFiled with Secretary by Sen. Chapin Rose 2/16/2018SenateFirst Reading 2/16/2018SenateReferred to Assignments 2/27/2018SenateAssigned to Higher Education 4/11/2018SenateDo Pass Higher Education; 010-000-000 4/11/2018SenatePlaced on Calendar Order of 2nd Reading April 12, 2018 4/19/2018SenateSecond Reading 4/19/2018SenatePlaced on Calendar Order of 3rd Reading April 23, 2018 4/24/2018SenateThird Reading - Passed; 052-000-000 4/24/2018HouseArrived in House 4/25/2018HouseChief House Sponsor Rep. Jay Hoffman 4/25/2018HouseFirst Reading 4/25/2018HouseReferred to Rules Committee 5/21/2018HouseAssigned to Executive Committee 5/21/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018 5/31/2018HouseRule 19(a) / Re-referred to Rules Committee 1/9/2019SenateSession Sine Die