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

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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

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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
HB2986 LRB102 13840 RJF 19191 b
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.