IL HB4376

Reduces the required matching funds for convention and tourism bureaus receiving Local Tourism Fund grants from 40% to 25% of the grant amount, effective Fiscal Year 2027 and thereafter.

Amends the Department of Commerce and Economic Opportunity Law, Hotel Operators' Occupation Tax Act, and Illinois Sports Facilities Authority Act regarding fund distributions.

Maintains the existing matching fund requirements for prior fiscal years: 25% for FY2021-2024, 30% for FY2025, and 40% for FY2026.

Takes effect immediately upon becoming law.