Illinois HB4376 amends tourism and hotel tax distribution, adjusting fund allocations and grant requirements.
Illinois HB4376 modifies the distribution of hotel and tourism taxes, reallocating funds to various state funds and adjusting grant requirements for local tourism bureaus. The bill specifies that 55% of hotel tax revenue goes to the Chicago Travel Industry Promotion Fund, while 45% goes to the International Tourism Fund. It also changes the matching fund requirements for grants to local tourism bureaus, reducing the required match from 40% to 25% starting in Fiscal Year 2027.
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