IL HB4616

Increases the operating budget threshold for special attention from entities with budgets under $1,000,000 to under $2,000,000 located in depressed areas.

Expands eligible uses of Charitable Trust Stabilization Fund moneys to include grants for operational purposes only, removing the requirement to fund start-up purposes.

Removes provisions requiring the State Treasurer to transfer $1,000,000 from the General Revenue Fund to the Charitable Trust Stabilization Fund and the subsequent return transfer three years later.

Takes effect immediately upon becoming law.