IL SB1982

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

Requires businesses to demonstrate at least a 25% reduction in gross income from 2019 to 2020 (or in any quarter during that period) to be eligible.

Awards $5,000 grants to eligible businesses on a first-come, first-served basis, with each business limited to receiving only one grant.

Requires the Department of Commerce and Economic Opportunity to publish the names of grant recipients on its website.

Directs the Department to adopt rules necessary to implement the grant program.