IL HB4872

Amends the Illinois Municipal Code to allow municipalities to receive waivers from required matching payments for State grants if they meet financial hardship criteria.

Eligible municipalities must have a population under 25,000 and meet at least one of the following conditions: over 13% of residents below federal poverty guidelines, a negative fund balance within the past 5 years, or debt at least twice the retail market value of real and personal property plus municipal accounts.

Municipalities seeking a waiver must submit documentation to the Governor's Office of Management and Budget in a form and manner prescribed by that office.

The waiver applies only if the municipality meets all other requirements for grant approval.

Effective date: July 1, 2025.