HB4342 Summary

• Appropriates $2,456,989,934 total to the Department of Commerce and Economic Opportunity for fiscal year beginning July 1, 2009, consisting of $55,217,300 in General Funds, $253,850,734 in Other State Funds, and $2,147,921,900 in Federal Funds

• Funds general administration, tourism operations and promotion, workforce development grants, technology and industrial competitiveness programs, regional economic development, and business development initiatives

• Includes major allocations for energy assistance programs ($110.7 million in supplemental low-income energy assistance), community development block grants ($234 million), and workforce training under American Recovery and Reinvestment Act provisions ($160+ million in federal stimulus funds)

• Appropriates specific grants including $3.5 million to Chicago State University for the Chicagoland Regional College Program and $500,000 reappropriated to Southern Illinois Economic Development Authority

• Takes effect July 1, 2009