IL HB1860

Allocates 25% of federal COVID-19 relief funds received by Illinois to grants for businesses with fewer than 50 employees.

Eligible businesses must employ less than 50 people and demonstrate at least a 25% reduction in gross income from 2019 to 2020, or show such a reduction in any quarter during that period.

Department of Commerce and Economic Opportunity shall award $5,000 grants to eligible businesses on a first-come, first-served basis, with each business limited to one grant.

Department must publish the names of all grant-awarded businesses on its website.

Department of Commerce and Economic Opportunity shall adopt rules necessary to implement the grant program.