(20 ILCS 665/8a) (from Ch. 127, par. 200-28a)
Sec. 8a. Tourism grants and loans.
(1) The Department is authorized to make grants and loans, subject to
appropriations by the General Assembly for this purpose from the Tourism
Promotion Fund,
to counties, municipalities, other units of local government, local promotion groups, not-for-profit
organizations, or
for-profit businesses for the development or improvement of tourism
attractions in Illinois. Individual grants and loans shall not
exceed
$1,000,000
and shall not exceed 50% of the entire amount of the actual expenditures for
the development or improvement of a tourist attraction. Agreements for
loans made by the Department pursuant to this subsection may contain
provisions regarding term, interest rate, security as may be required by
the Department and any other provisions the Department may require to
protect the State's interest.
(2) From appropriations to the Department from the State CURE fund for this purpose, the Department shall establish Tourism Attraction grants for purposes outlined in subsection (1). Grants under this subsection shall not exceed $1,000,000 but may exceed 50% of the entire amount of the actual expenditure for the development or improvement of a tourist attraction, including, but not limited to, festivals. Expenditures of such funds shall be in accordance with the permitted purposes under Section 9901 of the American Rescue Plan Act of 2021 and all related federal guidance.
(3) Subject to appropriation, the Department is authorized to issue competitive grants with initial terms of up to 5 years for the purpose of administering an incentive program that will attract or retain conventions, meetings, sporting events, and trade shows in Illinois with the goal of increasing business or leisure travel. (Source: P.A. 102-16, eff. 6-17-21; 102-287, eff. 8-6-21; 102-813, eff. 5-13-22; 103-8, eff. 6-7-23.)
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