IL SB1613

Establishes the COVID-19 Small Business Relief Program administered by the Department of Commerce and Economic Opportunity to provide financial assistance to businesses forced to close or unable to operate viably under Tier 3 of the Governor's Restoring Illinois plan.

Authorizes the Department to provide grants, expense reimbursements, or subsidies to qualifying businesses or qualified partners using appropriations from the State Coronavirus Urgent Remediation Emergency Fund and federal coronavirus relief funds.

Allows the Department to adopt emergency rules to implement the program, including application procedures, grant agreements, certifications, and payment methodologies.

Grants the Department authority to enter into agreements with federal agencies, local governments, financial institutions, and nonprofit organizations to carry out the program.

Emergency rulemaking authority for the program expires on January 1, 2026, and funding must comply with Section 5001 of the federal CARES Act and related federal guidance.