IL HB2439

Authorizes the Department of Commerce and Economic Opportunity to create and award capacity building grants to municipalities that meet specific economic decline criteria, subject to appropriation and Department of Revenue consultation.

Grants are available to municipalities whose equalized assessed value, total State sales tax disbursements, or both combined (adjusted for inflation) decreased at least 30% over the 10-year period preceding the grant issuance.

Department of Commerce and Economic Opportunity must adopt rules to implement and administer the grant program requirements.

Takes effect immediately upon becoming law.