HB2486 Summary

• Amends the Illinois Enterprise Zone Act to give priority for industrial development bonds to small businesses manufacturing medical provisions, processing food, or producing goods identified under gubernatorial disaster proclamations.

• Exempts qualifying businesses producing medical provisions, food infrastructure, or essential supplies from state statutory and regulatory restrictions more stringent than federal law, with exemptions expiring January 1, 2026 unless the Governor submits a report recommending continuation.

• Provides small businesses producing critical supplies a 10-year exemption from stricter state regulations (or until capital investment depreciates to zero), with ability to claim damages for undue business disruption and right to challenge state enforcement.

• Creates the Illinois Known Drug Safety and Efficacy Opportunity Board to develop antiviral compounds, establish pilot manufacturing facilities for pharmaceutical products, and award grants to universities and community colleges for life sciences workforce development.

• Creates the Illinois Food Processing and Distribution Board to identify alternative food processing sources, issue grants to small businesses for food processing capacity, and target expansion in underserved areas including Cook County food deserts.