90th General Assembly
Summary of HB2533
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Short description: 
DCCA-GRANTS-ECON DEVELOPMENT                                               

Synopsis of Bill as introduced:
        Amends the Civil Administrative Code of Illinois.  Provides  that      
   the  Department  of Commerce and Community Affairs, in its discretion,      
   may  establish  a  program  of  grants  to  be  matched  by   economic      
   development  entities  in  the  State  to  finance  and  promote local      
   economic development.   Authorizes  the  Department  to  make  grants,      
   subject  to  appropriations by the General Assembly, from the Economic      
   Development Matching Grants Program Fund, a special  fund  created  in      
   the  State  treasury,  to  nonprofit  organizations and local units of      
   government  whose  primary  objectives   are   to   promote   Illinois      
   communities   as  sites  for  industrial  and  business  location  and      
   expansion.  Provides that the applicant's proposed project must have a      
   definable impact on business and industrial  attraction,  recruitment,      
   or  retention.   Provides  factors  to be considered in choosing grant      
   recipients.  Provides that State grant dollars shall be evenly matched      
   by the applicant.  Provides that moneys appropriated to the program of      
   grants shall be  deposited  into  the  Economic  Development  Matching      
   Grants  Program Fund and shall not lapse into the General Revenue Fund      
   at the end of a fiscal year.  Provides that these grants shall  be  in      
   addition   to   any  other  grant  programs  currently  in  place  and      
   administered by the Department.  Provides that  the  Department  shall      
   adopt rules to implement this program. Amends the State Finance Act to      
   create   the   Economic  Development  Matching  Grants  Program  Fund.      
   Effective immediately.                                                      
Last action on Bill: PUBLIC ACT.............................. 90-0660

   Last action date: 98-07-30

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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