Bill Text: IL HB4969 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall make grants to units of local government and school districts for the redevelopment of unused public buildings into commercial and retail space to be rented at below-market rates to start-up businesses and existing small businesses. Provides that a portion of the space redeveloped with grants and financial assistance provided under this provision is to be set aside for start-up businesses and existing small businesses owned by minorities, women, and persons with disabilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HB4969 Detail]
Download: Illinois-2017-HB4969-Introduced.html
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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Department of Commerce and Economic | ||||||||||||||||||||||||
5 | Opportunity Law of the
Civil Administrative Code of Illinois is | ||||||||||||||||||||||||
6 | amended by adding Section 605-1025 as follows:
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7 | (20 ILCS 605/605-1025 new) | ||||||||||||||||||||||||
8 | Sec. 605-1025. Grants to redevelop unused public | ||||||||||||||||||||||||
9 | buildings. To make grants and provide financial assistance to | ||||||||||||||||||||||||
10 | units of local government and school districts for the | ||||||||||||||||||||||||
11 | rehabilitation and redevelopment of unused public buildings | ||||||||||||||||||||||||
12 | into commercial and retail space to be rented at below-market | ||||||||||||||||||||||||
13 | rates to start-up businesses and existing small businesses. The | ||||||||||||||||||||||||
14 | Department shall by rule provide for a portion of the | ||||||||||||||||||||||||
15 | commercial and retail space rehabilitated and redeveloped with | ||||||||||||||||||||||||
16 | grants and financial assistance provided under this Section to | ||||||||||||||||||||||||
17 | be set aside for start-up businesses and existing small | ||||||||||||||||||||||||
18 | businesses owned by minorities, women, and persons with | ||||||||||||||||||||||||
19 | disabilities.
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