Synopsis As Introduced Creates the Aerospace Competitiveness Act. Establishes the Illinois Council on Aerospace and provides for its membership. The purpose of the Council is to emulate national and international best practices that will: (1) improve coordination and responsiveness of the State's aerospace training, education, research, and development programs to meet industry needs; (2) enhance the State's economic climate for the industry; and (3) ensure that Illinois remains the best place in the world to design and manufacture aircraft and grow jobs in the aerospace industry. Sets forth the responsibilities of the Council and provides for funding and reports. Amends the State Finance Act to create the Illinois Aerospace Council Fund.