Illinois General Assembly - Bill Status for HB4374

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Creates the Commission on the Future of Economic Development of the African American Community within the Department of Commerce and Economic Opportunity. Provides that the Commission's purpose is to maintain and develop the economy within the African American community and to provide opportunities for this community that will enhance and expand the quality of their lives. Requires that the Commission consult with appropriate legislative committees about the State's economic development needs and opportunities in the African American community. Requires that the Commission submit to the Governor and General Assembly a comprehensive statewide economic development strategy for the African American community with a report on progress from the previous comprehensive strategy by October 1 of each even-numbered year. Provides that the Commission shall consist of 12 voting members appointed by the Governor, with representatives from specified economic fields. Provides that the Commission meet at least 4 times a year. Provides that the Commission make recommendations to the Department of Commerce and Economic Opportunity concerning the award of grants from amounts appropriated to the Department from the African American Community Economic Development Fund. Amends the State Finance Act. Creates the African American Community Economic Development Fund. Amends the Riverboat Gambling Act. Provides that $20,000,000 be transferred annually from the State Gaming Fund into the African American Community Economic Development Fund.

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