Illinois HB2363 authorizes the Department of Commerce and Economic Opportunity to award grants to municipalities with declining economic indicators.
Illinois HB2363 amends the Department of Commerce and Economic Opportunity Law to authorize the Department, in consultation with the Department of Revenue, to create and award capacity building grants to municipalities. These grants are intended for municipalities whose equalized assessed value, total State sales tax disbursements, or both combined, decreased by at least 30% over the preceding 10 years. The Department is required to adopt rules to implement and administer the grant program. The Act takes effect immediately upon becoming law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.