IL HB2363

Authorizes the Department of Commerce and Economic Opportunity (DCEO) to create and award capacity building grants to struggling municipalities

Eligible municipalities must have experienced at least a 30% decrease in equalized assessed value, total State sales tax disbursements, or both combined over the preceding 10 years (adjusted for inflation)

DCEO must consult with the Department of Revenue in administering the grant program

Grant funding is subject to appropriation by the General Assembly

Takes effect immediately upon becoming law