HB2986 102ND GENERAL ASSEMBLY

LRB102 13840 RJF 19191 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2986

Introduced 2/19/2021, by Rep. Camille Y. Lilly

SYNOPSIS AS INTRODUCED:

20 ILCS 605/605-1055 new

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that, subject to appropriation, the Department of Commerce and Economic Opportunity, in consultation with the Department of Revenue, is authorized to create and award capacity building grants to municipalities whose equalized assessed value, total State sales tax disbursements, or both combined, decreased at least 30% over the 10 years preceding the issuance of the grant. Provides for the adoption of rules.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois is amended by adding Section 605-1055 as follows:

(20 ILCS 605/605-1055 new)

Sec. 605-1055. Capacity building grants. Subject to appropriation, the Department of Commerce and Economic Opportunity, in consultation with the Department of Revenue, is authorized to create and award capacity building grants to municipalities whose equalized assessed value, total State sales tax disbursements, or both combined, subject to inflation, decreased at least 30% over the 10 years preceding the issuance of the grant. The Department shall adopt rules to implement and administer the requirements of this Section.