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IL HB4993

IL HB4993
DCEO-CHAMBER OF COMMERCE GRANT


summary

Introduced
01/26/2022
In Committee
03/25/2022
Crossed Over
02/24/2022
Passed
Dead
04/08/2022

Introduced Session

102nd General Assembly

Bill Summary

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Requires the Department of Commerce and Economic Opportunity to establish a grant program for local chambers of commerce. Provides that the Department shall allocate $5,000,000 as grants to eligible chambers of commerce in amounts equivalent to 2 months of lost revenue, or 1/6th of the annual lost revenue, between 2019 and 2020 from funds appropriated under the American Rescue Plan Act. Provides that eligible chambers of commerce must have less than 1,500 paid members. Provides for the adoption of rules.

AI Summary

This bill requires the Illinois Department of Commerce and Economic Opportunity to establish a grant program for local chambers of commerce. The bill allocates $5 million from the Coronavirus State Fiscal Recovery Fund under the American Rescue Plan Act to provide grants to eligible chambers of commerce in amounts equivalent to 2 months or 1/6th of their lost revenue between 2019 and 2020. To be eligible, chambers of commerce must have less than 1,500 paid members. The bill also requires the Department to adopt rules for the implementation of this program.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (25)

Last Action

Added as Alternate Co-Sponsor Sen. Ram Villivalam (on 01/04/2023)

bill text


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