Illinois HB4973 amends the Illinois Promotion Act to authorize grants and loans for tourism attraction development and establishes the Tourism.
HB4973 amends the Illinois Promotion Act to authorize the Department of Commerce and Economic Opportunity to issue competitive grants and loans for tourism attraction development. The bill creates the Tourism Incentive Grant Program Fund, a special fund in the State treasury, to which $5,000,000 will be transferred annually from the General Revenue Fund starting July 1, 2026. The Department is authorized to issue competitive grants with initial terms of 10 years to attract or retain conventions, meetings, sporting events, and trade shows in Illinois.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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