IL HB4455

Establishes the Recovery Initiative to Support Employment (RISE) Grant Program within the Department of Commerce and Economic Opportunity.

Allocates $250,000,000 in American Rescue Plan Act funds as grants to eligible businesses to aid in employing persons who became unemployed due to COVID-19.

Provides $5,000 grants to businesses that retrain and hire qualified employees, employ fewer than 50 employees, and create at least one net new job.

Qualifies employees who became unemployed due to COVID-19 mandated business closures or self-employment loss, and excludes previously furloughed employees being reinstated.

Awards grants on a first-come, first-served basis with each business eligible for one initial grant, and eligible for a second grant after all applicants receive initial funding.