IL HB4568

Authorizes the Department of Commerce and Economic Opportunity (DCEO), in consultation with the Department of Revenue, to create and award capacity building grants to eligible municipalities.

Eligibility criteria requires municipalities to have experienced at least a 30% decrease in equalized assessed value, total State sales tax disbursements, or both combined over the preceding 10 years (adjusted for inflation).

Grants are subject to appropriation by the legislature.

DCEO is directed to adopt rules to implement and administer the grant program.