Synopsis As Introduced Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Requires the Department of Commerce and Economic Opportunity to develop a program to make grants to local development organizations. Provides that under this program, a county or municipality may apply to the Department for a grant to be awarded to a local development organization in that county or municipality for the purpose of fostering local or regional economic development. Provides that these grants are subject to appropriation and sets forth the purposes for which the grants may be used. Authorizes the Department to make rules concerning the program. Effective on January 1, 2005.