IL HB2304

Establishes a Training in the Building Trades Program administered by the Department of Commerce and Economic Opportunity to award grants to community-based organizations for training persons aged 18-35 interested in building trades, including youth who have aged out of foster care.

Requires training programs to provide formal education in trade fundamentals taught by union journeymen paid prevailing wages, plus hands-on experience rehabilitating vacant and abandoned residential property in economically depressed areas.

Authorizes selected organizations to establish entrepreneurship programs providing capital and business management training for eligible participants to launch their own contracting, real estate, property management, or other building trades businesses.

Allows community-based organizations to partner with financial institutions or property owners to acquire and rehabilitate abandoned residential property, with proceeds from resale used to reimburse rehabilitation costs and fund the Training in the Building Trades Fund.

Creates the Training in the Building Trades Fund as a special state treasury fund to receive appropriations and sale proceeds from property rehabilitations, with all moneys expended exclusively for the training program.