summary
Introduced
02/04/2026
02/04/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department of Commerce and Economic Opportunity shall establish the Small Business Stabilization Grant Program to provide grants to eligible small businesses experiencing financial hardship. Effective immediately.
AI Summary
This bill establishes the Small Business Stabilization Grant Program, administered by the Department of Commerce and Economic Opportunity (DCEO), to provide financial assistance to eligible small businesses facing economic difficulties. The program will offer grants, capped at $25,000 per business and contingent on available funding, which can be used for essential operational costs like payroll, rent, utilities, and equipment. Priority will be given to businesses with fewer than 10 employees and those located in economically distressed areas of the state, and the DCEO is authorized to create necessary rules to implement this program, which will take effect immediately.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026 (on 03/13/2026)
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