Bill Text: IL HB2986 | 2021-2022 | 102nd General Assembly | Introduced


Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB2986 Detail]

Download: Illinois-2021-HB2986-Introduced.html


102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2986

Introduced , 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.
LRB102 13840 RJF 19191 b
FISCAL NOTE ACT MAY APPLY

A BILL FOR

HB2986LRB102 13840 RJF 19191 b
1 AN ACT concerning State government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Department of Commerce and Economic
5Opportunity Law of the Civil Administrative Code of Illinois
6is amended by adding Section 605-1055 as follows:
7 (20 ILCS 605/605-1055 new)
8 Sec. 605-1055. Capacity building grants. Subject to
9appropriation, the Department of Commerce and Economic
10Opportunity, in consultation with the Department of Revenue,
11is authorized to create and award capacity building grants to
12municipalities whose equalized assessed value, total State
13sales tax disbursements, or both combined, subject to
14inflation, decreased at least 30% over the 10 years preceding
15the issuance of the grant. The Department shall adopt rules to
16implement and administer the requirements of this Section.
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